Micron Technology (NASDAQ:MU) Trading Up 5.6% Following Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) was up 5.6% during trading on Thursday after Wedbush raised their price target on the stock from $165.00 to $200.00. Wedbush currently has an outperform rating on the stock. Micron Technology traded as high as $170.45 and last traded at $168.89. Approximately 27,857,627 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 22,723,752 shares. The stock had previously closed at $159.99.

Several other research firms also recently commented on MU. Raymond James Financial increased their price objective on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, June 26th. UBS Group increased their price objective on Micron Technology from $155.00 to $185.00 and gave the company a “buy” rating in a report on Monday. KeyCorp increased their price objective on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, June 26th. JPMorgan Chase & Co. increased their price objective on Micron Technology from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. Finally, Susquehanna increased their price objective on Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.00.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 20,000 shares of the firm’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 owned 166,353 shares in the company, valued at approximately $20,812,423.83. This trade represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,946 shares of company stock valued at $34,242,567 in the last ninety days. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. 180 Wealth Advisors LLC increased its position in shares of Micron Technology by 1.9% in the second quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer’s stock worth $645,000 after purchasing an additional 99 shares during the period. SilverOak Wealth Management LLC grew its position in Micron Technology by 3.5% in the second quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer’s stock valued at $364,000 after acquiring an additional 100 shares during the last quarter. Beta Wealth Group Inc. grew its position in Micron Technology by 1.5% in the second quarter. Beta Wealth Group Inc. now owns 6,805 shares of the semiconductor manufacturer’s stock valued at $839,000 after acquiring an additional 102 shares during the last quarter. HMS Capital Management LLC grew its position in Micron Technology by 0.6% in the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock valued at $2,375,000 after acquiring an additional 107 shares during the last quarter. Finally, D.B. Root & Company LLC grew its position in Micron Technology by 3.7% in the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock valued at $262,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

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 stock has a 50-day simple moving average of $123.05 and a 200-day simple moving average of $105.09. The stock has a market cap of $189.01 billion, a P/E ratio of 30.43 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 analysts’ consensus estimates 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 analysts’ expectations of $8.83 billion. During the same quarter in the previous 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 earnings per share for the current year.

Micron Technology Announces Dividend

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