KeyCorp Boosts Micron Technology (NASDAQ:MU) Price Target to $600.00

Micron Technology (NASDAQ:MU) had its target price increased by research analysts at KeyCorp from $450.00 to $600.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s price objective points to a potential upside of 35.63% from the company’s previous close.

A number of other brokerages have also recently weighed in on MU. TD Cowen lifted their target price on Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday. Mizuho raised their price objective on Micron Technology from $390.00 to $480.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Morgan Stanley lifted their price objective on Micron Technology from $350.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $360.00 target price on shares of Micron Technology in a report on Monday, March 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Micron Technology from $220.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $425.62.

Micron Technology Trading Down 4.2%

NASDAQ:MU traded down $19.34 during trading hours on Thursday, reaching $442.39. 17,041,496 shares of the company were exchanged, compared to its average volume of 36,011,410. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.78. The firm has a market cap of $497.92 billion, a price-to-earnings ratio of 42.32 and a beta of 1.50. Micron Technology has a 52-week low of $61.54 and a 52-week high of $471.34. The stock has a 50 day simple moving average of $398.74 and a 200 day simple moving average of $279.79.

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 $8.50 by $3.70. The company had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $18.90 billion. Micron Technology had a net margin of 28.15% and a return on equity of 22.71%. The business’s quarterly revenue was up 196.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 EPS. As a group, analysts predict that Micron Technology will post 6.08 EPS for the current year.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 25,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $429.89, for a total value of $10,747,250.00. Following the transaction, the executive vice president owned 248,021 shares in the company, valued at approximately $106,621,747.69. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Manish H. Bhatia sold 26,623 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $391.04, for a total value of $10,410,657.92. Following the completion of the transaction, the executive vice president directly owned 323,486 shares of the company’s stock, valued at $126,495,965.44. This represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 23,200 shares of company stock valued at $7,821,723 and sold 73,623 shares valued at $27,307,408. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after acquiring an additional 1,954,644 shares in the last quarter. State Street Corp raised its stake in shares of Micron Technology by 2.1% in the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock valued at $15,061,310,000 after purchasing an additional 1,090,644 shares in the last quarter. Capital International Investors raised its stake in shares of Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock valued at $3,910,198,000 after purchasing an additional 155,860 shares in the last quarter. Norges Bank bought a new position in shares of Micron Technology during the fourth quarter worth about $6,433,456,000. Finally, Morgan Stanley grew its stake in Micron Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after purchasing an additional 794,289 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology News Summary

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

• Positive Sentiment: Record Q2 results — Micron reported fiscal Q2 revenue of $23.86B and EPS $12.20, materially above expectations, and management issued very strong quarterly guidance that signals continued AI-driven demand, supporting the long-term growth thesis. Micron revenue almost triples, tops estimates as demand for memory soars
• Positive Sentiment: Analyst upgrades and higher price targets — Multiple firms raised ratings/targets (Needham to $500, Deutsche Bank to $550, Bernstein and Sanford Bernstein raised targets), which provides near-term support and explains part of the intraday buying pressure. Benzinga: analyst price target coverage
• Positive Sentiment: Product/production ramp — Micron is ramping HBM4 and PCIe Gen6 SSD production for AI customers (e.g., Nvidia), reinforcing its strategic position in the AI memory bottleneck and underpinning upside potential. Micron’s New HBM4 And PCIe Gen6 SSDs Test Lofty AI Valuation
• Neutral Sentiment: Dividend increase — Micron raised its quarterly dividend to $0.15 (30.4% increase), a signal of confidence and modest income support, but it’s a small yield relative to the stock’s valuation and growth profile.
• Negative Sentiment: Hefty capex guidance spooks investors — Management signaled a “meaningful” step-up in capital expenditures to expand advanced memory capacity. Investors are worried this will weigh on near-term free cash flow and margins, prompting a sell-the-news reaction despite the beat. Micron shares slip as hefty spending plans eclipse strong AI-fueled earnings
• Negative Sentiment: Supply/power and geopolitical concerns — Analysts and commentators flagged supply constraints, power/energy bottlenecks and recent Middle East energy disruptions as risks that could limit capacity expansion and prolong volatility in margins and delivery timing. Those risk headlines contributed to after-hours/premarket weakness. Why Are Micron Technology Shares Trading Lower On Thursday?

About Micron Technology

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.