Micron Technology (NASDAQ:MU) Trading Up 6.6% Following Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s stock price was up 6.6% during mid-day trading on Monday after Raymond James Financial raised their price target on the stock from $530.00 to $1,100.00. Raymond James Financial currently has an outperform rating on the stock. Micron Technology traded as high as $1,046.97 and last traded at $1,035.50. Approximately 45,874,303 shares changed hands during trading, an increase of 5% from the average daily volume of 43,486,664 shares. The stock had previously closed at $971.00.

Other research analysts also recently issued reports about the company. Bank of America increased their price objective on Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 price target on shares of Micron Technology in a research note on Monday, March 16th. Phillip Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada lifted their target price on Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a research note on Monday, March 16th. Finally, DA Davidson initiated coverage on Micron Technology in a research note on Monday, May 11th. They set a “buy” rating and a $1,000.00 target price for the company. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of “Buy” and an average target price of $621.97.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 106,000 shares of company stock valued at $47,032,460 over the last 90 days. 0.24% of the stock is currently owned by insiders.

More Micron Technology News

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

• Positive Sentiment: Memory and storage stocks are extending their parabolic rally as AI demand keeps pressure on chip supply, lifting Micron along with peers like Western Digital and SanDisk. Micron Rises 7%, Western Digital Climbs and SanDisk Climb 4% as Memory Stocks Extend Parabolic Run
• Positive Sentiment: Raymond James raised its price target on Micron to $1,100 from $530 and reiterated an outperform rating, reinforcing the bullish case for further gains. Micron Technology had its price target raised by Raymond James Financial, Inc.
• Positive Sentiment: Susquehanna also lifted its Micron target to $1,750 from $600, signaling that some analysts think the AI memory boom still has room to run. Micron Gains Wall Street Support as Memory Demand Builds
• Positive Sentiment: Several articles point to Micron as a major winner from AI bottlenecks and rising data-center spending, keeping investor sentiment strong ahead of its next earnings report. Micron and 6 Other Stocks Set to Win Big From the AI Bottleneck
• Neutral Sentiment: Micron’s upcoming June 24 earnings report remains a key catalyst, with investors expecting another strong quarter after the company’s recent beat-and-raise pattern. Will Micron (MU) Beat Estimates Again in Its Next Earnings Report?
• Negative Sentiment: After Micron’s massive rally, some commentary notes that the average Wall Street target may now imply downside from current levels, suggesting valuation risk if AI enthusiasm cools. Micron Rally Splits Wall Street Targets
• Negative Sentiment: Some broader AI-stock commentary warns that soaring valuations could make the trade vulnerable to a pullback if investors start questioning whether the rally has become too expensive. Are AI stocks getting too expensive?

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently made changes to their positions in MU. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at about $27,000. High Note Wealth LLC boosted its holdings in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Elevation Wealth Partners LLC boosted its holdings in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in shares of Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. Finally, Bayban purchased a new stake in shares of Micron Technology in the fourth quarter worth approximately $29,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 6.6%

The stock has a market capitalization of $1.17 trillion, a PE ratio of 48.89 and a beta of 2.15. The firm has a 50 day moving average price of $557.48 and a 200 day moving average price of $412.42. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

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

Micron Technology Increases Dividend

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

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.