Micron Technology (NASDAQ:MU) Given New $185.00 Price Target at Cantor Fitzgerald

Micron Technology (NASDAQ:MU) had its price objective hoisted by Cantor Fitzgerald from $155.00 to $185.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research note on Monday, August 11th. Zacks Research raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Wedbush boosted their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. Piper Sandler boosted their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, June 26th. Finally, Raymond James Financial boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.16.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $157.77 on Monday. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $160.34. The company has a market cap of $176.56 billion, a PE ratio of 28.43 and a beta of 1.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a fifty day moving average price of $120.69 and a two-hundred day moving average price of $103.78.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Analysts expect that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Manish H. Bhatia sold 80,000 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the completion of the transaction, the executive vice president owned 166,353 shares in the company, valued at $20,812,423.83. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 268,446 shares of company stock valued at $33,055,075 in the last three months. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Micron Technology by 1.9% during the second quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer’s stock worth $12,803,168,000 after buying an additional 1,973,294 shares in the last quarter. State Street Corp grew its stake in Micron Technology by 2.7% during the second quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer’s stock worth $6,331,795,000 after buying an additional 1,349,713 shares in the last quarter. Geode Capital Management LLC grew its stake in Micron Technology by 1.2% during the second quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer’s stock worth $3,152,974,000 after buying an additional 314,489 shares in the last quarter. Norges Bank acquired a new stake in Micron Technology during the second quarter worth about $1,980,700,000. Finally, Goldman Sachs Group Inc. grew its stake in Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after buying an additional 2,038,641 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.