Micron Technology (NASDAQ:MU) Given New $275.00 Price Target at Citigroup

Micron Technology (NASDAQ:MU) had its price target hoisted by Citigroup from $240.00 to $275.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently issued reports on MU. Summit Insights upgraded shares of Micron Technology to a “strong-buy” rating in a report on Tuesday, September 23rd. Bank of America boosted their target price on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Susquehanna boosted their target price on shares of Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, September 17th. Wells Fargo & Company boosted their target price on shares of Micron Technology from $170.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, Wedbush boosted their target price on shares of Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Five analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $201.89.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $220.10 on Monday. The stock has a market cap of $247.06 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 0.50 and a beta of 1.56. Micron Technology has a 12 month low of $61.54 and a 12 month high of $224.98. The stock’s 50 day moving average price is $161.36 and its 200 day moving average price is $123.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.86. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. The firm’s revenue was up 46.1% on a year-over-year basis. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Equities research analysts anticipate that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Insider Activity at Micron Technology

In related news, CAO Scott R. Allen sold 8,800 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $210.02, for a total value of $1,848,176.00. Following the completion of the sale, the chief accounting officer owned 40,237 shares of the company’s stock, valued at $8,450,574.74. This trade represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of Micron Technology stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly owned 96,031 shares of the company’s stock, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,256 shares of company stock worth $25,564,625. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Micron Technology by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer’s stock valued at $12,803,168,000 after acquiring an additional 1,973,294 shares in the last quarter. State Street Corp lifted its position in Micron Technology by 2.7% in the 2nd quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer’s stock valued at $6,331,795,000 after acquiring an additional 1,349,713 shares in the last quarter. Geode Capital Management LLC lifted its position in Micron Technology by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer’s stock valued at $3,152,974,000 after acquiring an additional 314,489 shares in the last quarter. Norges Bank bought a new stake in Micron Technology in the 2nd quarter valued at $1,980,700,000. Finally, Goldman Sachs Group Inc. lifted its position in Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after acquiring an additional 2,038,641 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

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.