Micron Technology (NASDAQ:MU) Stock Price Down 7.7% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU)’s share price traded down 7.7% during trading on Thursday . The company traded as low as $971.68 and last traded at $996.00. 53,430,820 shares were traded during trading, an increase of 23% from the average session volume of 43,594,883 shares. The stock had previously closed at $1,079.57.

More Micron Technology News

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

• Positive Sentiment: Micron continues to benefit from powerful AI and high-performance computing demand, with multiple recent articles highlighting tight memory supply, strong pricing, and long-term AI memory contracts that could support earnings visibility. Micron Locks In Long Term AI Memory Deals As Valuation Stretches
• Positive Sentiment: Wall Street sentiment remains upbeat, with Morgan Stanley lifting its price target to $1,050 and UBS reportedly even more bullish, reinforcing the view that Micron can keep benefiting from the AI memory cycle. Micron Technology (MU) Is One Of The Best AI Infrastructure Stocks, According To Hedge Funds
• Positive Sentiment: Several recent market pieces point to Micron as a major AI infrastructure winner, with hedge-fund interest, bullish analyst upgrades, and growing investor enthusiasm around memory-chip scarcity all supporting the stock. Micron Stock Soars 271% YTD: Is the Memory Chip Maker Still a Buy?
• Neutral Sentiment: Congressional and insider trading updates showed a mix of small purchases from lawmakers and continued heavy executive selling, which investors may interpret as a mixed but not decisive signal. Hedge Fund and Insider Trading News: Bill Ackman, Ray Dalio, Warren Buffett, Schonfeld Strategic Advisors, Voss Capital, ExodusPoint Capital, Micron Technology Inc (MU), Dell Technologies Inc (DELL), and More
• Negative Sentiment: Semiconductor shares are under pressure after Broadcom’s softer AI outlook sparked a sector-wide selloff, and Micron is moving lower in sympathy despite no direct negative news on the company. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Some analysts are warning that memory-chip pricing may be nearing a peak, creating concern that the current rally could be getting stretched after Micron’s huge run-up. Micron Stock Drops, Brace for the Memory-Price Peak

Analyst Ratings Changes

A number of research firms have issued reports on MU. TD Cowen raised their price target on shares of Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Barclays increased their price objective on shares of Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Summit Insights downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price objective on shares of Micron Technology in a report on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $641.97.

Micron Technology Trading Down 7.7%

The company’s 50 day moving average price is $595.64 and its two-hundred day moving average price is $429.72. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a market capitalization of $1.12 trillion, a PE ratio of 47.03 and a beta of 2.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. Micron Technology’s revenue was up 196 compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 EPS. As a group, analysts expect that Micron Technology, Inc. will post 58.62 earnings per share for the current year.

Micron Technology Increases Dividend

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

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 146,000 shares of company stock worth $85,486,715 in the last quarter. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. REAP Financial Group LLC purchased a new stake in Micron Technology in the 3rd quarter valued at about $25,000. High Note Wealth LLC boosted its position in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 34 shares during the period. Elevation Wealth Partners LLC grew its position in Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 71 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $27,000. Finally, Steigerwald Gordon & Koch Inc. grew its stake in Micron Technology by 4,800.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.