Micron Technology (NASDAQ:MU) Given New $350.00 Price Target at JPMorgan Chase & Co.

Micron Technology (NASDAQ:MU) had its target price lifted by JPMorgan Chase & Co. from $220.00 to $350.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald lifted their target price on shares of Micron Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James Financial lifted their price objective on Micron Technology from $190.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group boosted their target price on Micron Technology from $205.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday. KeyCorp set a $350.00 target price on Micron Technology in a research report on Thursday. Finally, Itau BBA Securities assumed coverage on Micron Technology in a research note on Tuesday, October 7th. They set an “outperform” rating and a $249.00 price target for the company. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $282.61.

Micron Technology Trading Up 10.2%

NASDAQ:MU opened at $248.55 on Thursday. The stock has a market cap of $279.40 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 0.33 and a beta of 1.54. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $264.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The stock’s 50-day moving average is $226.67 and its two-hundred day moving average is $163.42.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 17th. The semiconductor manufacturer reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $1.01. Micron Technology had a net margin of 28.15% and a return on equity of 23.56%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same period in the prior year, the firm earned $1.79 earnings per share. The firm’s revenue was up 56.7% compared to the same quarter last year. Micron Technology has set its Q2 2026 guidance at 8.220-8.620 EPS. As a group, equities research analysts forecast that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Monday, December 29th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, December 29th. Micron Technology’s dividend payout ratio is 6.06%.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 82,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $222.81, for a total value of $18,270,420.00. Following the transaction, the executive vice president directly owned 154,145 shares of the company’s stock, valued at approximately $34,345,047.45. This trade represents a 34.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 22,500 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $220.72, for a total value of $4,966,200.00. Following the sale, the chief executive officer directly owned 446,578 shares of the company’s stock, valued at $98,568,696.16. The trade was a 4.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 369,852 shares of company stock worth $79,364,303. Insiders own 0.24% of the company’s stock.

Institutional Trading of Micron Technology

Several large investors have recently modified their holdings of the company. AIA Group Ltd raised its holdings in Micron Technology by 82.9% in the 3rd quarter. AIA Group Ltd now owns 113,646 shares of the semiconductor manufacturer’s stock worth $19,015,000 after acquiring an additional 51,494 shares during the period. Painted Porch Advisors LLC acquired a new stake in shares of Micron Technology in the third quarter valued at about $77,000. Strategic Investment Solutions Inc. IL grew its position in shares of Micron Technology by 77.3% in the third quarter. Strategic Investment Solutions Inc. IL now owns 484 shares of the semiconductor manufacturer’s stock valued at $81,000 after purchasing an additional 211 shares during the last quarter. Severin Investments LLC bought a new position in shares of Micron Technology in the third quarter worth about $475,000. Finally, Allworth Financial LP lifted its position in shares of Micron Technology by 19.9% during the 3rd quarter. Allworth Financial LP now owns 31,079 shares of the semiconductor manufacturer’s stock worth $5,200,000 after purchasing an additional 5,155 shares during 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.