Micron Technology, Inc. (NASDAQ:MU – Get Free Report)’s share price dropped 1.4% during trading on Tuesday . The stock traded as low as $854.35 and last traded at $935.89. Approximately 71,250,326 shares traded hands during trading, an increase of 61% from the average daily volume of 44,266,234 shares. The stock had previously closed at $949.28.
More Micron Technology News
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Multiple reports say the AI memory supercycle is still intact, with Micron benefiting from tight DRAM/HBM supply, long-term customer agreements, and persistent demand from data-center buildouts. MarketWatch – Micron and other memory makers are driving a supercycle for this corner of the chip sector
- Positive Sentiment: Analysts remain broadly upbeat, with recent price-target hikes from Wells Fargo and Cantor Fitzgerald reinforcing the view that earnings could keep surprising to the upside if AI-related memory shortages persist. Benzinga – Micron Technology had its price target raised by Wells Fargo & Company
- Positive Sentiment: Recent commentary also points to Micron as a direct winner from Nvidia’s expanded memory partnerships, which has helped fuel renewed buying in memory stocks after last week’s selloff. Yahoo Finance – Why are Micron (MU) shares soaring today?
- Neutral Sentiment: Micron’s June 24 earnings report is now the key near-term catalyst; investors expect it to validate the AI-memory narrative, but it could also become a high bar if results or guidance merely meet expectations. TipRanks – Micron’s Q3 Earnings on June 24: Options Market Signals a Huge 20% Swing Ahead
- Negative Sentiment: Some analysts are warning that MU has already priced in a lot of the good news, arguing investors may want to wait for a pullback because expectations are stretched after a huge year-to-date rally. 247WallSt – Up 174% Year-to-Date: 1 Major Reason to Hold Off on Micron Technology Stock at $950
- Negative Sentiment: There is also fresh bearish positioning, including the launch of the first 2x inverse ETF on Micron, which highlights skepticism that the recent surge can continue without a cooling-off period. GlobeNewswire – Defiance Launches MUZ: The First 2X Short ETF for Micron Technology, Inc.
Wall Street Analysts Forecast Growth
MU has been the subject of several recent analyst reports. UBS Group boosted their target price on Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. 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 research report on Thursday, March 19th. Erste Group Bank cut Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Raymond James Financial boosted their target price on Micron Technology from $530.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, TD Cowen boosted their target price on Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $690.97.
Micron Technology Stock Performance
The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The company has a 50 day simple moving average of $629.16 and a 200-day simple moving average of $444.45. The stock has a market cap of $1.06 trillion, a P/E ratio of 44.19 and a beta of 2.16.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The firm had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The company’s revenue was up 196 compared to the same quarter last year. On average, equities analysts expect that Micron Technology, Inc. will post 58.79 earnings per share for the current fiscal year.
Micron Technology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology’s dividend payout ratio is presently 2.83%.
Insider Buying and Selling
In other news, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 37,439 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $960.38, for a total value of $35,955,666.82. Following the completion of the sale, the chief executive officer directly owned 387,064 shares of the company’s stock, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 146,000 shares of company stock worth $85,486,715. Insiders own 0.24% of the company’s stock.
Institutional Investors Weigh In On Micron Technology
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after acquiring an additional 1,954,644 shares during the last quarter. 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 acquiring an additional 1,090,644 shares during the last quarter. 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 acquiring an additional 155,860 shares during the last quarter. Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter valued at about $6,433,456,000. Finally, Morgan Stanley raised its position in Micron Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock valued at $4,679,771,000 after purchasing an additional 794,289 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.
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.
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