Micron Technology (NASDAQ:MU) Trading 2.5% Higher After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s stock price was up 2.5% on Tuesday after Citigroup raised their price target on the stock from $425.00 to $840.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $725.95 and last traded at $698.74. Approximately 61,118,518 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 42,594,949 shares. The stock had previously closed at $681.54.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Susquehanna boosted their target price on shares of Micron Technology from $345.00 to $525.00 and gave the stock a “positive” rating in a report on Monday, March 9th. Cantor Fitzgerald boosted their target price on shares of Micron Technology from $450.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Sanford C. Bernstein boosted their target price on shares of Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. Finally, Wedbush boosted their target price on shares of Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $518.47.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 106,000 shares of company stock worth $47,032,460. 0.24% of the stock is owned by insiders.

Micron Technology News Roundup

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

• Positive Sentiment: Citigroup sharply raised its price target on Micron to $840 from $425 and kept a buy rating, while Mizuho also lifted its target to $800 with an outperform rating, reinforcing bullish Wall Street expectations for the stock. Article Title
• Positive Sentiment: Multiple articles highlighted Micron as a major beneficiary of the AI memory boom, with comments that HBM shortages, pricing power, and strong profit outlooks could support further upside. Article Title
• Positive Sentiment: Micron is also being framed by investors as one of the key names in the memory and storage trade, with hedge-fund and portfolio-manager activity drawing attention to the stock’s AI-linked growth story. Article Title
• Neutral Sentiment: Several reports discussed whether Micron is still attractive after its huge run, suggesting valuation is getting richer even as long-term demand expectations remain strong. Article Title
• Negative Sentiment: The stock has also been pressured recently by broader semiconductor weakness and concerns about memory-cycle volatility, China exposure, and potential demand risks tied to the AI trade. Article Title

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. REAP Financial Group LLC acquired a new position in Micron Technology in the 3rd quarter worth approximately $25,000. High Note Wealth LLC increased its holdings in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 34 shares during the period. Elevation Wealth Partners LLC increased its holdings in Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 71 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Micron Technology in the 1st quarter worth approximately $27,000. Finally, Steigerwald Gordon & Koch Inc. increased its holdings in Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 2.5%

The company’s fifty day moving average is $484.78 and its two-hundred day moving average is $374.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The company has a market cap of $787.99 billion, a price-to-earnings ratio of 32.99 and a beta of 1.91.

Micron Technology Increases Dividend

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

Micron Technology Company Profile

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.