Micron Technology (NASDAQ:MU) Upgraded by Zacks Research to “Strong-Buy” Rating

Micron Technology (NASDAQ:MU) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on MU. JPMorgan Chase & Co. upped their target price on Micron Technology from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, August 12th. Susquehanna lifted their price target on Micron Technology from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Thursday, June 26th. Erste Group Bank began coverage on shares of Micron Technology in a research report on Thursday, August 14th. They set a “buy” rating on the stock. Citigroup upped their price objective on Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Finally, Barclays lifted their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.24.

Micron Technology Trading Down 4.0%

MU opened at $117.21 on Tuesday. The company’s 50 day moving average is $118.45 and its 200-day moving average is $99.68. The company has a market cap of $131.17 billion, a P/E ratio of 21.12 and a beta of 1.37. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology has a 1-year low of $61.54 and a 1-year high of $129.85.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities research analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Transactions at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock worth $34,679,277 over the last quarter. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds have recently made changes to their positions in MU. Brighton Jones LLC grew its position in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after acquiring an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock valued at $7,214,000 after purchasing an additional 13,985 shares during the period. Jump Financial LLC raised its holdings in shares of Micron Technology by 43.3% in the fourth quarter. Jump Financial LLC now owns 5,975 shares of the semiconductor manufacturer’s stock valued at $503,000 after acquiring an additional 1,804 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Micron Technology by 5.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 22,139 shares of the semiconductor manufacturer’s stock valued at $1,863,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Micron Technology by 28.8% during the 4th quarter. Stifel Financial Corp now owns 366,127 shares of the semiconductor manufacturer’s stock valued at $30,816,000 after acquiring an additional 81,954 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.