Micron Technology (NASDAQ:MU) Stock Price Up 8.7% on Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded up 8.7% during trading on Thursday after Wedbush raised their price target on the stock from $500.00 to $1,300.00. Wedbush currently has an outperform rating on the stock. Micron Technology traded as high as $1,149.43 and last traded at $1,133.99. 63,440,711 shares changed hands during trading, an increase of 42% from the average session volume of 44,673,184 shares. The stock had previously closed at $1,043.19.

A number of other equities analysts also recently commented on the stock. Wolfe Research lifted their price objective on shares of Micron Technology from $550.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $700.00 to $1,500.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Citigroup boosted their price objective on shares of Micron Technology from $840.00 to $1,200.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $400.00 to $900.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 10th. Finally, Royal Bank Of Canada raised their target price on shares of Micron Technology from $525.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday. Five equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $913.47.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This represents a 24.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 146,000 shares of company stock worth $85,486,715. 0.24% of the stock is currently owned by corporate insiders.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Wedbush boosted its price target on Micron to $1,300 from $500 and reiterated an outperform rating, reflecting confidence in more upside from AI memory demand and improved fundamentals. Benzinga report on Wedbush target hike
• Positive Sentiment: Deutsche Bank and Stifel both raised their price targets to $1,500, adding to the wave of bullish analyst revisions that helped fuel the stock’s latest move higher. Micron Technology (MU) Price Target Lifted by $675 at RBC Capital. Here is Why
• Positive Sentiment: Apple’s warning that price hikes may be “unavoidable” because of rising chip costs is being seen as another positive signal for Micron, reinforcing expectations that memory suppliers can pass through higher prices. Why Apple Price Hikes Are Sending Micron Stock Toward a Record High
• Positive Sentiment: Analysts continue to frame Micron as a top AI beneficiary, with commentary pointing to HBM demand, Nvidia-related supply wins, and strong earnings momentum ahead of results. Micron’s AI Run Gets Another Boost
• Neutral Sentiment: Several articles focused on Micron’s upcoming earnings release and elevated Wall Street expectations, suggesting the report could be a major catalyst but also a risk point if results disappoint. Micron (MU) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: A minority of coverage cautioned that Micron’s massive run may be leaving the stock vulnerable to profit-taking if expectations become too stretched heading into earnings. Micron: Peak Earnings Power Meets The Cycle Clock (Rating Downgrade)

Institutional Investors Weigh In On Micron Technology

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

Micron Technology Trading Up 8.7%

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 business has a fifty day moving average of $718.42 and a 200-day moving average of $482.57. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 53.54 and a beta of 2.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the previous year, the business posted $1.56 earnings per share. The firm’s quarterly revenue was up 196 compared to the same quarter last year. On average, equities analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

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.