Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares traded down 3% during mid-day trading on Thursday . The company traded as low as $635.42 and last traded at $646.6250. 46,545,143 shares traded hands during trading, an increase of 13% from the average session volume of 41,023,113 shares. The stock had previously closed at $666.59.
Key Headlines Impacting Micron Technology
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 Analysts Forecast Growth
A number of analysts recently issued reports on the company. TD Cowen lifted their price objective on Micron Technology from $550.00 to $660.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Bank of America boosted their price target on Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Cantor Fitzgerald boosted their price target on Micron Technology from $450.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Mizuho boosted their price target on Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. boosted their price target on Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $478.24.
Micron Technology Stock Up 15.4%
The business has a 50-day simple moving average of $435.84 and a two-hundred day simple moving average of $348.07. The company has a market cap of $841.66 billion, a price-to-earnings ratio of 35.24 and a beta of 1.91. 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 Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is presently 2.83%.
Insider Buying and Selling
In related news, EVP April S. Arnzen sold 40,000 shares of the business’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 of the company’s stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 104,000 shares of company stock valued at $45,458,400. Insiders own 0.24% of the company’s stock.
Hedge Funds Weigh In On Micron Technology
Large investors have recently made changes to their positions in the business. Brighton Jones LLC increased its stake in Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after acquiring an additional 976 shares during the period. Sivia Capital Partners LLC increased its stake in Micron Technology by 21.7% during the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock valued at $435,000 after acquiring an additional 628 shares during the period. United Bank bought a new position in Micron Technology during the second quarter valued at about $236,000. Schnieders Capital Management LLC. increased its stake in Micron Technology by 67.9% during the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after acquiring an additional 6,867 shares during the period. Finally, Sei Investments Co. increased its stake in Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock valued at $49,987,000 after acquiring an additional 21,619 shares during the period. Institutional investors and hedge funds 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.
Further Reading
- Five stocks we like better than Micron Technology
- Buffett Spent 60 Years Ignoring Tech and the Bill Is Coming Due
- Excited About Gold But Unsure of Its Trajectory? Try These 3 Approaches
- Dollar at a 3-Year Low: 3 Exporters Quietly Printing Money
- Water Infrastructure: Why This Boring Sector Could Get Exciting
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.
