Micron Technology (NASDAQ:MU) Trading 19.3% Higher Following Analyst Upgrade
by Scott Moore · The Cerbat GemMicron Technology, Inc. (NASDAQ:MU – Get Free Report)’s share price rose 19.3% during trading on Tuesday after UBS Group raised their price target on the stock from $535.00 to $1,625.00. UBS Group currently has a buy rating on the stock. Micron Technology traded as high as $916.80 and last traded at $895.88. Approximately 74,962,490 shares traded hands during mid-day trading, an increase of 75% from the average daily volume of 42,921,926 shares. The stock had previously closed at $751.00.
MU has been the subject of several other reports. The Goldman Sachs Group upped their price objective on shares of Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Sanford C. Bernstein upped their price objective on shares of Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Mizuho upped their price objective on shares of Micron Technology to $800.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. TD Cowen upped their price objective 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. Finally, Citigroup upped their price objective on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Five equities 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 stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Buy” and an average price target of $554.80.
Read Our Latest Stock Report on MU
Insider Buying and Selling at Micron Technology
In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 106,000 shares of company stock valued at $47,032,460. 0.24% of the stock is owned by corporate insiders.
Key Stories Impacting Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: UBS raised its price target on Micron to a Wall Street-high $1,625, reinforcing the view that AI memory demand can support much higher earnings and valuation multiples. Benzinga
- Positive Sentiment: Barclays also boosted its target to $1,175 and kept an Overweight rating, adding to the bullish analyst momentum around MU. Finbold
- Positive Sentiment: Commentary across several outlets points to surging AI infrastructure spending, tight memory supply, and improving pricing power, which could lift Micron’s margins and earnings further. Zacks
- Neutral Sentiment: Micron’s market value crossing $1 trillion has drawn enormous attention and momentum buying, but it also raises valuation questions and has sparked debate about whether the rally is becoming overextended. GuruFocus
- Neutral Sentiment: Some articles highlight that Micron is now being compared with other AI winners and memory peers such as SK Hynix and Samsung, underscoring a broader sector rerating rather than a company-specific event alone. Barron's
- Negative Sentiment: At least one piece warns that Micron may be “priced for perfection,” suggesting the stock could be vulnerable if AI spending slows or memory prices normalize faster than expected. 24/7 Wall St.
Hedge Funds Weigh In On Micron Technology
Several institutional investors and hedge funds have recently made changes to their positions in MU. Brighton Jones LLC lifted its position in shares of Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after purchasing an additional 628 shares during the period. United Bank purchased a new stake in shares of Micron Technology in the 2nd quarter worth about $236,000. Schnieders Capital Management LLC. lifted its position in shares of Micron Technology by 67.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after purchasing an additional 6,867 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Micron Technology by 5.6% in the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after purchasing an additional 21,619 shares during the period. Institutional investors own 80.84% of the company’s stock.
Micron Technology Stock Performance
The company’s 50-day moving average price is $547.31 and its 200 day moving average price is $407.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a market capitalization of $1.04 trillion, a PE ratio of 43.60 and a beta of 1.91.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. During the same period last year, the company posted $1.56 EPS. Micron Technology’s revenue was up 196 on a year-over-year basis. On average, equities research analysts expect that Micron Technology, Inc. will post 57.82 earnings per share for the current fiscal year.
Micron Technology Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a dividend of $0.15 per share. 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. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology’s dividend payout ratio 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.