Micron Technology, Inc. (NASDAQ:MU – Get Free Report)’s share price traded down 13.3% during mid-day trading on Friday . The company traded as low as $864.01 and last traded at $864.01. 75,015,331 shares changed hands during mid-day trading, an increase of 71% from the average session volume of 43,900,270 shares. The stock had previously closed at $996.00.
Micron Technology News Summary
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron was certified as an HBM4 memory supplier for Nvidia’s next-generation Vera Rubin AI platform, reinforcing its role in the AI memory supply chain and highlighting continued demand for high-bandwidth memory. Micron’s HBM4 Certification With Nvidia Puts AI Memory Margins In Focus
- Positive Sentiment: Wall Street sentiment remains broadly constructive, with recent analyst reports and price-target hikes pointing to expectations for strong AI-driven earnings and tight memory supply. Morgan Stanley raises Micron stock price target
- Positive Sentiment: Recent coverage continues to frame Micron as a major beneficiary of AI infrastructure spending, with some analysts still arguing the stock has upside despite its huge run-up. Micron (MU) Boasts Earnings & Price Momentum: Should You Buy?
- Neutral Sentiment: Mixed commentary around Micron’s valuation and its recent $1 trillion-plus market-cap rally is keeping investors cautious ahead of the next earnings report, even as the company’s fundamentals remain strong. Micron Stock Price Forecast — What Top Analysts Expect Ahead of June 24 Earnings
- Neutral Sentiment: Broader market weakness in chip stocks and a hotter-than-expected U.S. jobs report added to the risk-off tone, pressuring semiconductors across the board. Micron, Sandisk stocks slide as traders exit high-flying AI plays
- Negative Sentiment: Broadcom’s disappointing AI guidance triggered a sharp unwind in the “AI trade,” dragging Micron lower even though there was no company-specific negative news. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
- Negative Sentiment: Some analysts and commentators are warning that memory-chip prices may be nearing a peak, raising concerns that Micron’s blockbuster rally may have run too far too fast. Micron Stock Drops, Brace for the Memory-Price Peak
Wall Street Analysts Forecast Growth
MU has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Micron Technology from $520.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America upped their price objective on shares of Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Citigroup upped their price objective on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $500.00 target price on shares of Micron Technology in a report on Monday, March 16th. Five research 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. According to data from MarketBeat.com, Micron Technology has an average rating of “Buy” and an average target price of $641.97.
Micron Technology Trading Down 13.3%
The stock has a market cap of $974.37 billion, a P/E ratio of 40.79 and a beta of 2.16. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $617.28 and its 200 day moving average price is $437.99.
Micron Technology (NASDAQ:MU – Get Free Report) last announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. During the same quarter in the previous year, the business posted $1.56 EPS. The company’s quarterly revenue was up 196 on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 58.79 earnings per share for the current year.
Micron Technology Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a dividend of $0.15 per share. 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 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.
Insider Activity
In related news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, the director owned 17,139 shares in the company, valued at $13,488,907.17. The trade was a 10.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the transaction, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 146,000 shares of company stock worth $85,486,715. 0.24% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Micron Technology
A number of hedge funds have recently bought and sold shares of MU. Norges Bank bought a new position in Micron Technology in the 4th quarter worth about $6,433,456,000. AQR Capital Management LLC boosted its stake in Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock worth $606,873,000 after purchasing an additional 2,918,535 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Micron Technology by 1,340.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock worth $805,148,000 after purchasing an additional 2,625,169 shares in the last quarter. Amundi raised its position in Micron Technology by 65.0% in the 4th quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock worth $1,424,025,000 after buying an additional 1,965,319 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after buying an additional 1,954,644 shares during the last quarter. 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.
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