Micron Technology (NASDAQ:MU) Shares Up 4.5% on Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) shares shot up 4.5% 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 $264.75 and last traded at $263.71. 21,508,684 shares traded hands during trading, a decline of 9% from the average session volume of 23,557,123 shares. The stock had previously closed at $252.42.

A number of other brokerages also recently issued reports on MU. Erste Group Bank started coverage on Micron Technology in a research report on Thursday, August 14th. They set a “buy” rating for the company. Piper Sandler raised their price target on shares of Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Weiss Ratings upgraded shares of Micron Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, November 1st. KeyCorp upped their price objective on shares of Micron Technology from $160.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Finally, Summit Insights raised shares of Micron Technology to a “strong-buy” rating in a research note on Tuesday, September 23rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $232.28.

Insider Activity at Micron Technology

In related news, EVP Scott J. Deboer sold 82,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the transaction, the executive vice president owned 154,145 shares in the company, valued at $34,345,047.45. The trade was a 34.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark J. Murphy sold 126,000 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $225.31, for a total transaction of $28,389,060.00. Following the transaction, the chief financial officer directly owned 219,693 shares in the company, valued at approximately $49,499,029.83. This represents a 36.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 392,352 shares of company stock worth $82,994,387 over the last quarter. 0.24% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Micron Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 104,653,450 shares of the semiconductor manufacturer’s stock worth $17,510,615,000 after acquiring an additional 773,788 shares in the last quarter. State Street Corp increased its holdings in shares of Micron Technology by 0.6% during the third quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock valued at $8,643,613,000 after acquiring an additional 285,582 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 314,489 shares during the period. Capital International Investors lifted its holdings in shares of Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Micron Technology in the 2nd quarter worth $1,980,700,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 4.5%

The firm has a market cap of $296.44 billion, a price-to-earnings ratio of 34.74, a P/E/G ratio of 0.43 and a beta of 1.54. The firm’s 50-day moving average is $220.54 and its 200-day moving average is $157.80. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

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

Micron Technology Dividend Announcement

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

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.