Micron Technology (NASDAQ:MU) Trading 1.1% Higher – Still a Buy?

Micron Technology, Inc. (NASDAQ:MU)’s stock price rose 1.1% during mid-day trading on Wednesday . The stock traded as high as $959.00 and last traded at $948.80. 42,377,412 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 45,974,387 shares. The stock had previously closed at $938.38.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Micron’s long-term fundamentals remain strong, with recent coverage highlighting record quarterly revenue, AI-driven demand, very high margins, and management’s upbeat outlook. Seeking Alpha: Micron Earnings
• Positive Sentiment: The company’s new long-term memory supply deal with Ford improves revenue visibility and shows demand from automakers is still strong. TheStreet: Micron’s Ford deal
• Positive Sentiment: Several analysts and market commentators still see upside, arguing the recent selloff has made Micron more attractive after a pullback from recent highs. Benzinga: UBS says chip stocks are far from bubble territory

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MU shares. JPMorgan Chase & Co. increased their price objective on Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Sanford C. Bernstein set a $1,300.00 target price on shares of Micron Technology in a research report on Monday, June 22nd. Erste Group Bank upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Citigroup lifted their price target on shares of Micron Technology from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Stifel Nicolaus boosted their price objective on shares of Micron Technology from $550.00 to $1,500.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $1,263.76.

Micron Technology Stock Performance

The business’s fifty day moving average price is $895.82 and its 200-day moving average price is $565.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. The stock has a market cap of $1.07 trillion, a PE ratio of 21.48 and a beta of 2.14.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, beating the consensus estimate of $21.39 by $3.72. The firm had revenue of $41.46 billion during the quarter, compared to analysts’ expectations of $35.91 billion. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The firm’s quarterly revenue was up 345.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 earnings per share. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, equities research analysts forecast that Micron Technology, Inc. will post 72.94 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Monday, July 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Monday, July 6th. Micron Technology’s dividend payout ratio (DPR) is presently 1.36%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 28,506 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $1,149.28, for a total transaction of $32,761,375.68. Following the completion of the sale, the chief executive officer directly owned 355,997 shares of the company’s stock, valued at approximately $409,140,232.16. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated 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 transaction, the executive vice president directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 187,300 shares of company stock worth $162,779,604. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Micron Technology in the fourth quarter valued at $6,433,456,000. AQR Capital Management LLC increased its position in Micron Technology by 411.9% during 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 acquiring an additional 2,918,535 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 acquiring an additional 2,625,169 shares during the period. Amundi lifted its holdings in shares of Micron Technology by 65.0% in the 4th quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock worth $1,424,025,000 after acquiring an additional 1,965,319 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after acquiring an additional 1,954,644 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

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.