Micron Technology (NASDAQ:MU) Hits New 1-Year High After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) shares reached a new 52-week high during mid-day trading on Thursday after Barclays raised their price target on the stock from $140.00 to $175.00. Barclays currently has an overweight rating on the stock. Micron Technology traded as high as $160.59 and last traded at $159.99, with a volume of 18729880 shares traded. The stock had previously closed at $158.82.

Other analysts have also issued research reports about the company. Wedbush upped their price objective on Micron Technology from $165.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley upped their price objective on Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Cantor Fitzgerald increased their target price on Micron Technology from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. increased their target price on Micron Technology from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. Finally, Erste Group Bank initiated coverage on Micron Technology in a research note on Thursday, August 14th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.50.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director owned 20,146 shares of the company’s stock, valued at $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,319 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $158.29, for a total value of $1,158,524.51. Following the sale, the chief executive officer directly owned 340,148 shares in the company, valued at $53,842,026.92. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,946 shares of company stock valued at $34,242,567 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer’s stock valued at $12,803,168,000 after purchasing an additional 1,973,294 shares in the last quarter. State Street Corp boosted its holdings in shares of Micron Technology by 2.7% in the 2nd quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer’s stock valued at $6,331,795,000 after purchasing an additional 1,349,713 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Micron Technology by 1.2% in the 2nd 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. Norges Bank acquired a new stake in shares of Micron Technology in the 2nd quarter valued at $1,980,700,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

The stock has a fifty day simple moving average of $123.82 and a two-hundred day simple moving average of $105.58. The stock has a market cap of $182.11 billion, a price-to-earnings ratio of 29.32 and a beta of 1.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter last year, the business posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology’s dividend payout ratio (DPR) is 8.29%.

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.