Micron Technology (NASDAQ:MU) Reaches New 12-Month High – Still a Buy?

Micron Technology, Inc. (NASDAQ:MU) shares hit a new 52-week high on Monday . The stock traded as high as $818.67 and last traded at $772.7680, with a volume of 14465768 shares changing hands. The stock had previously closed at $746.81.

Micron Technology News Summary

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Micron announced it is shipping the 245TB Micron 6600 ION SSD, the highest-capacity commercially available SSD, underscoring demand for its storage products. Article Title
• Positive Sentiment: Micron began sampling a 256GB DDR5 RDIMM for AI and data-center workloads, supporting the bullish case for memory demand. Article Title
• Positive Sentiment: Samsung labor disruption concerns could tighten global DRAM and NAND supply, improving Micron’s pricing power and margin outlook. Article Title
• Positive Sentiment: Analysts reiterated bullish views on MU, with recent Buy/Outperform calls and targets near $1,000 or higher reflecting confidence in AI-driven earnings growth. Article Title
• Neutral Sentiment: Some commentary says Micron’s sharp rally has made the stock look stretched in the short term, so traders may see near-term volatility or consolidation. Article Title
• Neutral Sentiment: Broader chip-sector weakness and profit-taking hit memory names on Tuesday, which can pressure MU despite the longer-term bullish trend. Article Title

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MU shares. Summit Insights downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Susquehanna upped their target price on shares of Micron Technology from $345.00 to $525.00 and gave the company a “positive” rating in a research note on Monday, March 9th. Wells Fargo & Company upped their target price on shares of Micron Technology from $470.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Needham & Company LLC upped their target price on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, Royal Bank Of Canada upped their target price on shares of Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $495.63.

Micron Technology Stock Performance

The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $456.87 and its two-hundred day moving average is $360.05. The company has a market cap of $864.50 billion, a PE ratio of 36.19 and a beta of 1.91.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a dividend of $0.15 per share. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio is presently 2.83%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the sale, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 104,000 shares of company stock worth $45,458,400. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently bought and sold shares of MU. Norges Bank bought a new stake in Micron Technology in the 4th quarter valued at $6,433,456,000. AQR Capital Management LLC increased its holdings in Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after acquiring an additional 2,918,535 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Micron Technology by 1,340.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock valued at $805,148,000 after acquiring an additional 2,625,169 shares during the last quarter. Amundi increased its holdings in Micron Technology by 65.0% in the 4th quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock valued at $1,424,025,000 after acquiring an additional 1,965,319 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after acquiring an additional 1,954,644 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.