Micron Technology (NASDAQ:MU) Trading Up 4.8% – Still a Buy?

Micron Technology, Inc. (NASDAQ:MU)’s share price shot up 4.8% during mid-day trading on Wednesday . The company traded as high as $814.95 and last traded at $803.63. 53,835,862 shares traded hands during trading, an increase of 28% from the average session volume of 42,086,742 shares. The stock had previously closed at $766.58.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Bank of America raised its Micron price target to $950 and kept a Buy rating, reinforcing the view that AI memory demand still has room to run. BofA Sees More Room for Micron’s AI Rally
• Positive Sentiment: Micron is being highlighted as a core AI beneficiary alongside Nvidia, with analysts arguing the market is still early in the AI cycle. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI ‘Parking Lot’— It Is ‘Not Late’ To Get In
• Positive Sentiment: Micron was also boosted by broader semiconductor strength tied to improving U.S.-China tech sentiment and a risk-on move in chip stocks. These Chip Stocks Are Rising as CEOs Join Trump at China Summit
• Neutral Sentiment: Some commentary warns the chip trade may be getting crowded after a huge run, with concentration in tech at levels not seen since the 2000 bubble. Wall Street’s Top Chartist Warns US Tech Stocks Now At Highest Concentration Since the 2000 Bubble
• Negative Sentiment: One article flagged Micron as vulnerable to profit-taking after its steep rally, suggesting some investors may be locking in gains. Micron Investors Face a High-Stakes Moment After the Latest Rally

Analysts Set New Price Targets

Several analysts have weighed in on MU shares. Citigroup decreased their price objective on shares of Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. The Goldman Sachs Group boosted their target price on Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, March 19th. KeyCorp increased their price target on Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Summit Insights downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Five 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $495.63.

Micron Technology Stock Performance

The stock has a market cap of $906.28 billion, a price-to-earnings ratio of 37.94 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $456.87 and a 200-day simple moving average of $360.05.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a dividend of $0.15 per share. 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. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology’s payout ratio is currently 2.83%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the sale, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 104,000 shares of company stock worth $45,458,400 over the last three months. 0.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Micron Technology by 1.9% during 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 period. State Street Corp lifted its stake in shares of Micron Technology by 2.1% in the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock valued at $15,061,310,000 after purchasing an additional 1,090,644 shares during the period. Capital International Investors lifted its stake in shares of Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock valued at $3,910,198,000 after purchasing an additional 155,860 shares during the period. Norges Bank bought a new position in shares of Micron Technology in the 4th quarter worth $6,433,456,000. Finally, Morgan Stanley grew its stake in shares of Micron Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after purchasing an additional 794,289 shares during the period. 80.84% of the stock is owned by institutional investors.

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.