Micron Technology (NASDAQ:MU) Stock Price Up 2.2% on Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) shares shot up 2.2% on Wednesday after Citigroup raised their price target on the stock from $840.00 to $1,200.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $1,093.67 and last traded at $1,043.19. 45,109,622 shares changed hands during trading, an increase of 1% from the average session volume of 44,514,180 shares. The stock had previously closed at $1,020.76.

A number of other research firms also recently weighed in on MU. Susquehanna boosted their price target on shares of Micron Technology from $600.00 to $1,750.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Melius Research started coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a “buy” rating and a $700.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Micron Technology in a research note on Tuesday, May 12th. KeyCorp upped their target price on shares of Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, Bank of America upped their target price on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $831.80.

Insider Activity at Micron Technology

In other news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 146,000 shares of company stock worth $85,486,715 over the last ninety days. 0.24% of the stock is owned by corporate insiders.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Deutsche Bank and Citigroup raised their price targets on Micron, citing tight supply, stronger memory pricing, and durable AI infrastructure demand. Benzinga analyst target update
• Positive Sentiment: Analysts expect Micron’s upcoming quarterly results to show higher earnings and revenue, with several previews arguing that guidance could be an important catalyst if management confirms continued strength in memory markets. Zacks earnings preview
• Positive Sentiment: Multiple pieces point to Micron benefiting from explosive AI memory demand, especially for HBM and DRAM, with some commentary suggesting the rally could still have room to run and that a stock split could eventually be considered after the shares crossed the $1,000 level. Motley Fool stock split article
• Neutral Sentiment: Some analysts and commentators are warning that Micron is now priced for very high expectations, with articles arguing the stock may be entering a “peak earnings power” phase and that future gains could depend on buybacks, capital returns, or a stock split rather than just earnings growth. Seeking Alpha downgrade article
• Negative Sentiment: There is also caution around Micron’s huge run-up and elevated valuation, with bearish notes pointing to cyclical risk and the possibility that sentiment could cool if memory pricing or AI demand normalizes. Seeking Alpha cycle risk article

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. High Note Wealth LLC boosted its holdings in shares of Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 34 shares during the period. Elevation Wealth Partners LLC boosted its holdings in shares of Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 71 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Micron Technology in the first quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. boosted its holdings in Micron Technology by 4,800.0% during 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 acquired a new position in Micron Technology during the fourth quarter worth $29,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

The company’s fifty day moving average is $705.11 and its 200 day moving average is $476.85. The firm has a market cap of $1.18 trillion, a price-to-earnings ratio of 49.25 and a beta of 2.16. 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 announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 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 business had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. The firm’s revenue was up 196 on a year-over-year basis. On average, equities research analysts predict that Micron Technology, Inc. will post 59.23 EPS for the current year.

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.