Micron Technology (NASDAQ:MU) Price Target Raised to $240.00 at Citigroup

Micron Technology (NASDAQ:MU) had its target price upped by Citigroup from $200.00 to $240.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently issued reports on MU. BNP Paribas raised shares of Micron Technology from a “strong sell” rating to a “strong-buy” rating in a report on Monday. New Street Research reissued a “neutral” rating on shares of Micron Technology in a report on Tuesday. BNP Paribas Exane raised shares of Micron Technology from an “underperform” rating to an “outperform” rating and set a $270.00 price target on the stock in a report on Monday. Wedbush increased their price target on shares of Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Rosenblatt Securities increased their price target on shares of Micron Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of “Buy” and an average target price of $196.71.

Micron Technology Stock Up 5.5%

NASDAQ:MU opened at $202.53 on Thursday. The firm has a market capitalization of $227.33 billion, a P/E ratio of 26.68, a PEG ratio of 0.42 and a beta of 1.56. Micron Technology has a 1-year low of $61.54 and a 1-year high of $206.34. The company’s fifty day moving average price is $149.53 and its 200-day moving average price is $116.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.86. The firm had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business’s quarterly revenue was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, equities research analysts anticipate that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares of the company’s stock, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 21,563 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the completion of the transaction, the chief executive officer directly owned 272,648 shares in the company, valued at approximately $51,385,968.56. This represents a 7.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,956 shares of company stock valued at $22,841,025. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Command Advisory Services Inc. increased its position in Micron Technology by 225.0% during the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 153 shares during the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Micron Technology during the second quarter valued at about $30,000. AlphaQuest LLC increased its position in shares of Micron Technology by 13,250.0% during the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 265 shares during the last quarter. WealthCollab LLC increased its position in shares of Micron Technology by 4,500.0% during the second quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 270 shares during the last quarter. Finally, AllSquare Wealth Management LLC increased its position in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.