Micron Technology (NASDAQ:MU) Stock Price Up 6.8% After Analyst Upgrade

Shares of Micron Technology, Inc. (NASDAQ:MU) rose 6.8% during trading on Monday after Needham & Company LLC raised their price target on the stock from $500.00 to $1,550.00. Needham & Company LLC currently has a buy rating on the stock. Micron Technology traded as high as $1,213.56 and last traded at $1,211.38. Approximately 51,145,444 shares traded hands during trading, an increase of 14% from the average session volume of 44,748,703 shares. The stock had previously closed at $1,133.99.

MU has been the subject of a number of other reports. Raymond James Financial lifted their price objective on shares of Micron Technology from $530.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Stifel Nicolaus increased their target price on Micron Technology from $550.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Thursday. Sanford C. Bernstein set a $1,300.00 price target on Micron Technology in a report on Monday. Wedbush lifted their price target on Micron Technology from $500.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Wolfe Research boosted their price objective on Micron Technology from $550.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of “Buy” and a consensus target price of $974.80.

Insider Activity

In related news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the sale, the director directly owned 17,139 shares of the company’s stock, valued at $13,488,907.17. This represents a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 146,000 shares of company stock worth $85,486,715. Insiders own 0.24% of the company’s stock.

Key Headlines Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Micron announced a strategic agreement with Anthropic that includes memory and storage supply, AI infrastructure design collaboration, enterprise adoption of Claude, and a strategic investment in Anthropic’s latest funding round, reinforcing Micron’s role in AI infrastructure. Reuters article
• Positive Sentiment: Wall Street sentiment remains upbeat heading into earnings, with multiple firms lifting targets; Needham reportedly raised its price target to $1,550, while other recent targets also cluster in the $1,200-$1,500 range. Benzinga article
• Positive Sentiment: Investors are betting on a big earnings beat, with coverage pointing to a near quadrupling of revenue year over year and a roughly 10x jump in EPS, driven by surging AI memory demand. Invezz article
• Positive Sentiment: Momentum traders are also supportive, with articles noting Micron hitting record highs and broader memory-chip stocks rallying into the earnings release. Schaeffer’s article
• Neutral Sentiment: Options traders are bracing for a large post-earnings move, with some estimates implying about a 14% swing, underscoring how much of the current rally is tied to the upcoming report. TipRanks article
• Negative Sentiment: After a massive run-up, some commentary warns that expectations are stretched and that even a solid quarter may not be enough if guidance disappoints or memory pricing cools. Barron’s article

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MU. High Note Wealth LLC raised its stake in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Micron Technology in the 1st quarter valued at $27,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Micron Technology by 4,800.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Finally, Bayban bought a new position in shares of Micron Technology during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

The company has a market cap of $1.37 trillion, a PE ratio of 57.19 and a beta of 2.15. The business’s 50-day moving average is $748.09 and its 200 day moving average is $495.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.