Micron Technology (NASDAQ:MU) Sets New 52-Week High on Analyst Upgrade

Shares of Micron Technology, Inc. (NASDAQ:MU) reached a new 52-week high on Saturday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $131.41 and last traded at $131.37, with a volume of 28358729 shares trading hands. The stock had previously closed at $124.21.

Several other analysts have also recently issued reports on MU. Susquehanna upped their price objective on Micron Technology from $150.00 to $160.00 and gave the stock a “positive” rating in a report on Thursday, June 26th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. KGI Securities cut Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Raymond James Financial boosted their target price on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, June 26th. Finally, CLSA began coverage on Micron Technology in a research report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.54.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president directly owned 148,167 shares of the company’s stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total value of $2,502,200.00. Following the completion of the transaction, the executive vice president directly owned 166,353 shares in the company, valued at $20,812,423.83. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,884 shares of company stock valued at $32,363,889. Insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after purchasing an additional 1,130,680 shares during the period. Mission Wealth Management LP grew its holdings in Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock valued at $1,360,000 after purchasing an additional 10,348 shares during the period. Centre Asset Management LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $7,720,000. ProShare Advisors LLC grew its holdings in Micron Technology by 16.9% in the fourth quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer’s stock valued at $138,945,000 after purchasing an additional 238,687 shares during the period. Finally, Czech National Bank lifted its position in shares of Micron Technology by 6.4% in the first quarter. Czech National Bank now owns 255,908 shares of the semiconductor manufacturer’s stock valued at $22,236,000 after acquiring an additional 15,485 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

The firm has a market cap of $147.02 billion, a PE ratio of 23.67 and a beta of 1.47. The firm has a 50-day moving average price of $117.85 and a two-hundred day moving average price of $101.70. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same quarter last year, the business posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.