Micron Technology (NASDAQ:MU) Trading Up 1.1% – Still a Buy?

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $959.00 and last traded at $948.80. 42,377,412 shares changed hands during trading, a decline of 8% from the average daily volume of 45,974,387 shares. The stock had previously closed at $938.38.

More Micron Technology News

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

• Positive Sentiment: Micron’s long-term fundamentals remain strong, with recent coverage highlighting record quarterly revenue, AI-driven demand, very high margins, and management’s upbeat outlook. Seeking Alpha: Micron Earnings
• Positive Sentiment: The company’s new long-term memory supply deal with Ford improves revenue visibility and shows demand from automakers is still strong. TheStreet: Micron’s Ford deal
• Positive Sentiment: Several analysts and market commentators still see upside, arguing the recent selloff has made Micron more attractive after a pullback from recent highs. Benzinga: UBS says chip stocks are far from bubble territory

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup upped their price target on Micron Technology from $1,200.00 to $1,400.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,500.00 target price on shares of Micron Technology in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Micron Technology from $1,500.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Summit Insights downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 19th. Finally, Morgan Stanley boosted their price target on shares of Micron Technology from $1,050.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of “Buy” and an average price target of $1,263.76.

Micron Technology Stock Performance

The company’s 50-day moving average price is $895.82 and its two-hundred day moving average price is $565.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. The stock has a market cap of $1.07 trillion, a PE ratio of 21.48 and a beta of 2.14.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $21.39 by $3.72. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The firm had revenue of $41.46 billion during the quarter, compared to analysts’ expectations of $35.91 billion. During the same period in the prior year, the business earned $1.91 EPS. The company’s revenue for the quarter was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 72.94 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th will be issued a $0.15 dividend. The ex-dividend date is Monday, July 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s payout ratio is currently 1.36%.

Insiders Place Their Bets

In other news, Director Lynn A. Dugle sold 1,300 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $1,150.43, for a total transaction of $1,495,559.00. Following the completion of the sale, the director owned 17,728 shares of the company’s stock, valued at approximately $20,394,823.04. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction 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 approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 187,300 shares of company stock worth $162,779,604. 0.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. White Wing Wealth Management bought a new stake in shares of Micron Technology during the 2nd quarter valued at about $300,000. Teamwork Financial Advisors LLC increased its position in shares of Micron Technology by 50.5% during the second quarter. Teamwork Financial Advisors LLC now owns 5,506 shares of the semiconductor manufacturer’s stock valued at $6,356,000 after buying an additional 1,848 shares during the period. TrueWealth Advisors LLC raised its stake in Micron Technology by 9.5% in the second quarter. TrueWealth Advisors LLC now owns 1,310 shares of the semiconductor manufacturer’s stock worth $1,512,000 after buying an additional 114 shares in the last quarter. Puff Wealth Management LLC bought a new position in Micron Technology in the second quarter worth about $728,000. Finally, FNY Investment Advisers LLC lifted its holdings in Micron Technology by 3,298.0% in the second quarter. FNY Investment Advisers LLC now owns 1,699 shares of the semiconductor manufacturer’s stock worth $1,961,000 after buying an additional 1,649 shares during the period. 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.