Micron Technology (NASDAQ:MU) Trading Up 4.5% on Analyst Upgrade

Shares of Micron Technology, Inc. (NASDAQ:MU) shot up 4.5% during trading on Wednesday after Citigroup raised their price target on the stock from $275.00 to $300.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $264.75 and last traded at $263.71. 21,508,684 shares changed hands during trading, a decline of 9% from the average session volume of 23,557,123 shares. The stock had previously closed at $252.42.

A number of other research analysts have also weighed in on MU. Barclays raised their price objective on Micron Technology from $195.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Bank of America raised their price target on Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Wells Fargo & Company lifted their price objective on Micron Technology from $220.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Rosenblatt Securities increased their target price on Micron Technology from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Micron Technology from $200.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $232.28.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 22,500 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $220.72, for a total value of $4,966,200.00. Following the completion of the sale, the chief executive officer owned 446,578 shares of the company’s stock, valued at approximately $98,568,696.16. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 82,000 shares of Micron Technology stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the transaction, the executive vice president directly owned 154,145 shares in the company, valued at $34,345,047.45. This trade represents a 34.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 392,352 shares of company stock worth $82,994,387. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. REAP Financial Group LLC purchased a new position in Micron Technology in the third quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Micron Technology during the 3rd quarter worth about $27,000. Cullen Frost Bankers Inc. raised its position in Micron Technology by 79.3% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 88 shares in the last quarter. First Command Advisory Services Inc. boosted its stake in shares of Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 153 shares during the period. Finally, Osterweis Capital Management Inc. grew its position in shares of Micron Technology by 205.5% during the third quarter. Osterweis Capital Management Inc. now owns 223 shares of the semiconductor manufacturer’s stock worth $37,000 after buying an additional 150 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 4.5%

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The company has a market cap of $296.50 billion, a PE ratio of 34.75, a P/E/G ratio of 0.52 and a beta of 1.54. The business’s 50 day moving average is $218.91 and its 200-day moving average is $157.06.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.17. The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The company’s revenue was up 46.1% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

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.