Micron Technology (NASDAQ:MU) Sets New 12-Month High After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price reached a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $275.00 to $300.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $260.74 and last traded at $260.4070, with a volume of 10918576 shares. The stock had previously closed at $252.42.

A number of other brokerages have also commented on MU. Wolfe Research lifted their price objective on Micron Technology from $200.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. Erste Group Bank initiated coverage on shares of Micron Technology in a research note on Thursday, August 14th. They issued a “buy” rating on the stock. BNP Paribas Exane raised shares of Micron Technology from an “underperform” rating to an “outperform” rating and set a $270.00 price target for the company in a research note on Monday, October 13th. Weiss Ratings upgraded shares of Micron Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, November 1st. Finally, Morgan Stanley raised their price objective on shares of Micron Technology to $338.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $232.28.

Insider Activity

In other Micron Technology news, EVP Scott J. Deboer sold 82,000 shares of Micron Technology stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the transaction, the executive vice president directly owned 154,145 shares in the company, valued at approximately $34,345,047.45. The trade was a 34.72% 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, CFO Mark J. Murphy sold 126,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $225.31, for a total value of $28,389,060.00. Following the completion of the transaction, the chief financial officer directly owned 219,693 shares of the company’s stock, valued at approximately $49,499,029.83. The trade was a 36.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 392,352 shares of company stock worth $82,994,387 over the last quarter. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Micron Technology

Several hedge funds and other institutional investors have recently modified their holdings of MU. REAP Financial Group LLC acquired a new stake in Micron Technology in the 3rd quarter valued at approximately $25,000. First Command Advisory Services Inc. boosted its position in Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Micron Technology during the 3rd quarter worth approximately $27,000. Howard Hughes Medical Institute acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $30,000. Finally, AlphaQuest LLC lifted its position in shares of Micron Technology by 13,250.0% in the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 265 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

The company’s fifty day moving average is $220.54 and its 200 day moving average is $157.80. The firm has a market cap of $296.44 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 0.43 and a beta of 1.54. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.17. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The firm had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same period in the previous year, the business earned $1.18 EPS. The company’s revenue was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

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.