Micron Technology (NASDAQ:MU) Trading Up 10.2% Following Earnings Beat

Micron Technology, Inc. (NASDAQ:MU) was up 10.2% on Thursday following a better than expected earnings announcement. The company traded as high as $263.65 and last traded at $248.55. Approximately 63,946,205 shares changed hands during trading, an increase of 169% from the average daily volume of 23,804,475 shares. The stock had previously closed at $225.52.

The semiconductor manufacturer reported $4.78 earnings per share 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 firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the firm posted $1.79 earnings per share. The company’s revenue was up 56.7% on a year-over-year basis. Micron Technology has set its Q2 2026 guidance at 8.220-8.620 EPS.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Monday, December 29th will be given a $0.115 dividend. The ex-dividend date is Monday, December 29th. This represents a $0.46 annualized dividend and a yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is currently 6.06%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MU shares. Morgan Stanley boosted their price target on Micron Technology from $338.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday. Wedbush set a $320.00 target price on shares of Micron Technology in a research report on Thursday. Needham & Company LLC upped their price target on shares of Micron Technology from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Micron Technology in a research note on Thursday. Finally, Wall Street Zen upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 23rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $282.61.

Insider Transactions at Micron Technology

In other news, CAO Scott R. Allen sold 8,800 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $210.02, for a total transaction of $1,848,176.00. Following the transaction, the chief accounting officer directly owned 40,237 shares of the company’s stock, valued at $8,450,574.74. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 3,743 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $233.39, for a total value of $873,578.77. Following the completion of the transaction, the chief executive officer owned 396,578 shares in the company, valued at approximately $92,557,339.42. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 369,852 shares of company stock worth $79,364,303. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Orleans Capital Management Corp LA bought a new stake in Micron Technology during the 2nd quarter worth approximately $256,000. Cary Street Partners Financial LLC grew its position in shares of Micron Technology by 25.0% during the 2nd quarter. Cary Street Partners Financial LLC now owns 26,132 shares of the semiconductor manufacturer’s stock valued at $3,221,000 after purchasing an additional 5,233 shares in the last quarter. Wealthspire Advisors LLC grew its position in shares of Micron Technology by 27.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 14,754 shares of the semiconductor manufacturer’s stock valued at $1,818,000 after purchasing an additional 3,208 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Micron Technology by 6.2% in the second quarter. KLP Kapitalforvaltning AS now owns 403,105 shares of the semiconductor manufacturer’s stock worth $49,683,000 after purchasing an additional 23,600 shares during the period. Finally, WealthBridge Capital Management LLC purchased a new stake in shares of Micron Technology in the second quarter worth $210,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 10.2%

The company has a market cap of $279.40 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 0.33 and a beta of 1.54. The company has a 50 day moving average of $226.67 and a 200-day moving average of $163.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

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.