Micron Technology (NASDAQ:MU) Shares Gap Up on Analyst Upgrade

Shares of Micron Technology, Inc. (NASDAQ:MU) gapped up prior to trading on Thursday after Wedbush raised their price target on the stock from $500.00 to $1,300.00. The stock had previously closed at $1,043.19, but opened at $1,108.06. Wedbush currently has an outperform rating on the stock. Micron Technology shares last traded at $1,120.9220, with a volume of 13,331,494 shares trading hands.

MU has been the subject of several other reports. Melius Research assumed coverage on Micron Technology in a research note on Monday, April 27th. They issued a “buy” rating and a $700.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Micron Technology in a research report on Tuesday, May 12th. Mizuho boosted their price objective on shares of Micron Technology to $800.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Bank of America boosted their price objective on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, TD Cowen boosted their price objective on shares of Micron Technology from $660.00 to $1,500.00 and gave the company a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $913.47.

Insider Buying and Selling at Micron Technology

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

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Wedbush raised its price target on Micron Technology (MU) to $1,300 from $500 and kept an Outperform rating, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Stifel reportedly initiated or reiterated a $1,500 price target, joining other bullish firms such as Deutsche Bank and TD Cowen that see further upside in Micron as AI memory demand remains strong. Stifel’s $1,500 Target Bets Micron Has Further to Run
• Positive Sentiment: Multiple articles highlight strong demand for high-bandwidth memory (HBM) and DRAM, with Micron seen as a key supplier benefiting from AI infrastructure spending and improving pricing power. Nvidia Supplier Advances Next AI Memory
• Positive Sentiment: Apple’s comments that iPhone price increases may be “unavoidable” were cited as another tailwind for memory-chip makers like Micron, since it supports the idea that component costs are staying elevated. Micron Stock Surges Toward Record High. Thank Apple.
• Neutral Sentiment: Several previews and opinion pieces ahead of Micron’s June 24 earnings report say expectations are high, with analysts anticipating strong revenue and EPS growth; the report itself is likely to be the next major catalyst. Micron stock in focus: can HBM demand unlock another 60% rally?
• Neutral Sentiment: Broader tech sentiment improved as markets rebounded, helping support semiconductor shares like MU along with the rest of the sector. SpaceX, Apple, and More Stocks That Explain Today’s Market
• Negative Sentiment: One article flagged that Micron’s huge rally may be stretched and suggested some investors may want to take profits after the stock’s outsized run, which could cap near-term gains. Take Profits: Top Investor Thinks the Time Has Come to Leave Micron Stock

Institutional Trading of Micron Technology

A number of institutional investors have recently bought and sold shares of the company. Heritage Trust Co raised its holdings in shares of Micron Technology by 9.7% in the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock worth $4,289,000 after acquiring an additional 1,323 shares during the last quarter. Westpac Banking Corp raised its holdings in shares of Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock worth $3,863,000 after acquiring an additional 16,509 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock worth $1,196,427,000 after acquiring an additional 1,188,296 shares during the last quarter. Fulton Bank N.A. raised its holdings in shares of Micron Technology by 79.1% in the 4th quarter. Fulton Bank N.A. now owns 16,183 shares of the semiconductor manufacturer’s stock worth $4,619,000 after acquiring an additional 7,147 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Micron Technology in the 4th quarter worth about $1,316,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 8.1%

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 company has a market cap of $1.27 trillion, a price-to-earnings ratio of 53.24 and a beta of 2.16. The stock’s fifty day moving average is $718.42 and its two-hundred day moving average is $482.57.

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