Micron Technology (NASDAQ:MU) Trading 8% Higher Following Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price was up 8% during mid-day trading on Monday after Morgan Stanley raised their price target on the stock to $338.00. Morgan Stanley currently has an overweight rating on the stock. Micron Technology traded as high as $226.11 and last traded at $223.93. Approximately 32,605,385 shares were traded during trading, an increase of 37% from the average daily volume of 23,781,945 shares. The stock had previously closed at $207.37.

MU has been the topic of several other research reports. Susquehanna lifted their price target on shares of Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, September 17th. Wall Street Zen upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Stifel Nicolaus upped their target price on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Wolfe Research raised their price target on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Finally, KeyCorp boosted their price objective on Micron Technology from $160.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $216.11.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 3,743 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $233.39, for a total transaction of $873,578.77. Following the completion of the transaction, the chief executive officer owned 396,578 shares in the company, valued at $92,557,339.42. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark J. Murphy sold 126,000 shares of Micron Technology stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $225.31, for a total value of $28,389,060.00. Following the completion of the sale, the chief financial officer directly owned 219,693 shares in the company, valued at $49,499,029.83. This trade represents a 36.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 409,756 shares of company stock worth $85,308,033 in the last quarter. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wealthspire Advisors LLC boosted its position in Micron Technology by 27.8% in the 2nd quarter. Wealthspire Advisors LLC now owns 14,754 shares of the semiconductor manufacturer’s stock valued at $1,818,000 after buying an additional 3,208 shares during the period. Achmea Investment Management B.V. bought a new stake in shares of Micron Technology during the second quarter valued at approximately $3,759,000. WealthBridge Capital Management LLC purchased a new stake in shares of Micron Technology in the second quarter valued at approximately $210,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Micron Technology by 6.2% in the second quarter. KLP Kapitalforvaltning AS now owns 403,105 shares of the semiconductor manufacturer’s stock valued at $49,683,000 after purchasing an additional 23,600 shares during the period. Finally, Cornerstone Investment Partners LLC grew its stake in Micron Technology by 1.6% in the second quarter. Cornerstone Investment Partners LLC now owns 773,768 shares of the semiconductor manufacturer’s stock worth $95,367,000 after purchasing an additional 12,061 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The firm has a fifty day simple moving average of $201.36 and a 200 day simple moving average of $145.13. The company has a market capitalization of $251.73 billion, a PE ratio of 29.50, a P/E/G ratio of 0.51 and a beta of 1.62.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.17. The business had revenue of $11.32 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, October 3rd. Micron Technology’s dividend payout ratio is presently 6.06%.

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.