Wolfe Research Issues Positive Forecast for Micron Technology (NASDAQ:MU) Stock Price

Micron Technology (NASDAQ:MU) had its target price increased by Wolfe Research from $160.00 to $180.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

Other analysts have also recently issued reports about the company. Mizuho raised their target price on Micron Technology from $155.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Monday, August 11th. Bank of America raised their target price on Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. CLSA started coverage on Micron Technology in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of Micron Technology in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.65.

Micron Technology Trading Up 0.7%

Shares of NASDAQ MU opened at $159.99 on Wednesday. The stock’s 50 day moving average price is $122.14 and its two-hundred day moving average price is $104.54. Micron Technology has a 52-week low of $61.54 and a 52-week high of $160.59. The stock has a market capitalization of $179.05 billion, a P/E ratio of 28.83 and a beta of 1.47. 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 posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same period in the prior year, the company earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, analysts anticipate that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Manish H. Bhatia sold 80,000 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company’s stock, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares in the company, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,946 shares of company stock valued at $34,242,567 in the last quarter. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently added to or reduced their stakes in the company. Mission Wealth Management LP grew its position in Micron Technology by 195.2% during the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock worth $1,360,000 after buying an additional 10,348 shares in the last quarter. Centre Asset Management LLC acquired a new stake in Micron Technology during the first quarter worth about $7,720,000. Czech National Bank grew its position in Micron Technology by 6.4% during the first quarter. Czech National Bank now owns 255,908 shares of the semiconductor manufacturer’s stock worth $22,236,000 after buying an additional 15,485 shares in the last quarter. TB Alternative Assets Ltd. lifted its stake in Micron Technology by 331.3% during the first quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer’s stock worth $6,933,000 after purchasing an additional 61,288 shares during the period. Finally, Stock Yards Bank & Trust Co. bought a new position in Micron Technology during the first quarter worth about $228,000. 80.84% of the stock is owned by institutional investors and hedge funds.

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.