Micron Technology (NASDAQ:MU) Trading Up 4.1% – Should You Buy?

Micron Technology, Inc. (NASDAQ:MU)’s share price rose 4.1% on Wednesday . The company traded as high as $667.67 and last traded at $666.14. Approximately 54,137,959 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 40,936,797 shares. The stock had previously closed at $640.20.

Key Micron Technology News

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What’s Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. Sanford C. Bernstein increased their price objective on shares of Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Citigroup dropped their price target on Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Wells Fargo & Company increased their price target on Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Melius Research started coverage on shares of Micron Technology in a research report on Monday, April 27th. They issued a “buy” rating and a $700.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on shares of Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $478.24.

Micron Technology Price Performance

The stock has a market capitalization of $841.66 billion, a P/E ratio of 35.24 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The business’s 50 day moving average price is $435.84 and its 200 day moving average price is $348.07.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology’s dividend payout ratio is currently 2.83%.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the sale, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was 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 in the company, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 104,000 shares of company stock worth $45,458,400 in the last three months. 0.24% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

Hedge funds have recently bought and sold shares of the stock. REAP Financial Group LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at $25,000. High Note Wealth LLC raised its position 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 worth $25,000 after acquiring an additional 34 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in Micron Technology during the third quarter worth approximately $27,000. Elevation Wealth Partners LLC increased its stake in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 71 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Micron Technology in the 1st quarter valued at $27,000. Hedge funds and other 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.