Wells Fargo & Company Issues Positive Forecast for Micron Technology (NASDAQ:MU) Stock Price

Micron Technology (NASDAQ:MU) had its price target upped by Wells Fargo & Company from $300.00 to $335.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

MU has been the topic of a number of other reports. BNP Paribas raised shares of Micron Technology from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, October 13th. Cantor Fitzgerald increased their target price on shares of Micron Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday. CLSA started coverage on shares of Micron Technology in a research report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $300.00 price objective on shares of Micron Technology in a research report on Monday. Finally, Susquehanna raised their price objective on Micron Technology from $200.00 to $300.00 and gave the stock a “positive” rating in a research note on Monday, December 8th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $282.61.

Micron Technology Stock Up 10.2%

NASDAQ:MU opened at $248.55 on Thursday. 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 has a 12-month low of $61.54 and a 12-month high of $264.75. The stock’s fifty day simple moving average is $226.67 and its 200-day simple moving average is $163.42. The firm has a market capitalization of $279.40 billion, a P/E ratio of 23.63, a P/E/G ratio of 0.33 and a beta of 1.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 17th. The semiconductor manufacturer reported $4.78 earnings per share for the quarter, beating the consensus estimate of $3.77 by $1.01. Micron Technology had a return on equity of 23.56% and a net margin of 28.15%.The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The company’s quarterly 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. Equities research analysts expect that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 22,500 shares of Micron Technology stock in a transaction dated 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 owned 446,578 shares of the company’s stock, valued at $98,568,696.16. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Scott J. Deboer sold 82,000 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $222.81, for a total value of $18,270,420.00. Following the completion of the sale, the executive vice president owned 154,145 shares in the company, valued at approximately $34,345,047.45. This trade represents a 34.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 369,852 shares of company stock worth $79,364,303 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 104,653,450 shares of the semiconductor manufacturer’s stock valued at $17,510,615,000 after purchasing an additional 773,788 shares during the last quarter. State Street Corp grew its position in Micron Technology by 0.6% in 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 purchasing an additional 285,582 shares in the last quarter. Geode Capital Management LLC grew its position in Micron Technology by 1.2% in the second quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer’s stock valued at $3,152,974,000 after purchasing an additional 314,489 shares in the last quarter. Capital International Investors lifted its position in Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after buying an additional 155,860 shares in the last quarter. Finally, Norges Bank bought a new stake in Micron Technology during the 2nd quarter worth about $1,980,700,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.