Micron Technology (NASDAQ:MU) Shares Gap Up on Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) gapped up before the market opened on Thursday after Citigroup raised their price target on the stock from $150.00 to $175.00. The stock had previously closed at $140.00, but opened at $147.72. Citigroup currently has a buy rating on the stock. Micron Technology shares last traded at $151.30, with a volume of 12,201,097 shares changing hands.

MU has been the topic of a number of other reports. Mizuho raised their price target on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 5th. KeyCorp raised their price target on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. CLSA started coverage on Micron Technology in a report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 price target on the stock. Robert W. Baird raised their price target on Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Finally, TD Cowen lifted their target price on Micron Technology from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.76.

Insider Buying and Selling at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total value of $2,502,200.00. Following the transaction, the executive vice president directly owned 166,353 shares in the company, valued at approximately $20,812,423.83. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,446 shares of company stock valued at $32,908,469. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $26,000. First Command Advisory Services Inc. increased its position in shares of Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 153 shares during the period. Howard Hughes Medical Institute acquired a new position in shares of Micron Technology in the 2nd quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $33,000. Finally, AlphaQuest LLC increased its position in shares of Micron Technology by 13,250.0% in the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 265 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Performance

The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $119.23 and a 200-day moving average of $102.77. The stock has a market capitalization of $168.51 billion, a price-to-earnings ratio of 27.13 and a beta of 1.47.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio is presently 8.29%.

About Micron Technology

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.