Micron Technology (NASDAQ:MU – Get Free Report) had its price objective hoisted by investment analysts at Citigroup from $1,150.00 to $1,300.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price objective suggests a potential upside of 20.38% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. TD Cowen reiterated a “buy” rating on shares of Micron Technology in a report on Wednesday, September 16th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $1,400.00 target price on shares of Micron Technology in a research report on Wednesday. BMO Capital Markets initiated coverage on Micron Technology in a report on Friday, August 21st. They issued an “outperform” rating and a $1,300.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Micron Technology from $1,500.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Morgan Stanley upped their price target on Micron Technology from $1,050.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $1,296.47.
View Our Latest Analysis on MU
Micron Technology Trading Down 1.5%
Micron Technology (NASDAQ:MU – Get Free Report) last released its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The firm had revenue of $41.46 billion during the quarter, compared to the consensus estimate of $35.91 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. Micron Technology’s revenue was up 345.8% compared to the same quarter last year. Analysts expect that Micron Technology will post 72.99 earnings per share for the current year.
Insider Buying and Selling at Micron Technology
In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total value of $38,756,000.00. Following the transaction, the chief executive officer directly owned 264,503 shares of the company’s stock, valued at $256,276,956.70. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lynn A. Dugle sold 1,300 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the transaction, the director owned 17,728 shares in the company, valued at approximately $20,394,823.04. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 177,204 shares of company stock worth $182,156,264. Corporate insiders own 0.24% of the company’s stock.
Institutional Investors Weigh In On Micron Technology
Hedge funds have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Micron Technology in the 1st quarter worth $27,000. Bullseye Investment Management LLC acquired a new stake in shares of Micron Technology during the second quarter valued at about $27,000. Bayban purchased a new stake in shares of Micron Technology during the fourth quarter worth about $29,000. Financial Life Planners purchased a new stake in shares of Micron Technology during the first quarter worth about $36,000. Finally, Portus Wealth Advisors LLC acquired a new position in shares of Micron Technology in the first quarter worth about $37,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Micron Technology News Summary
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Strong AI infrastructure spending and tight memory supplies continue to support the bullish case. Reports indicate that Micron’s HBM capacity is sold out through 2027, while long-term take-or-pay contracts could provide revenue visibility and help protect margins even if spot memory prices moderate. HBM Sold Out Through 2027
- Positive Sentiment: Analyst optimism ahead of earnings is supporting MU. Stifel maintained a Buy rating and cited the potential for higher memory prices and margins, while other coverage highlights upward earnings revisions and strong data-center demand. Why Is Micron Stock Gaining Today?
- Positive Sentiment: Micron is benefiting from broader strength across AI-memory stocks, including SanDisk, as investors anticipate another significant year-over-year earnings increase. The company’s latest reported quarter already substantially exceeded consensus revenue and EPS expectations.
- Neutral Sentiment: The September 30 earnings release is the key near-term catalyst. Expectations are elevated, and investors will focus on forward guidance, memory pricing, HBM demand, capital spending and the timing of new capacity.
- Neutral Sentiment: SK Hynix is reportedly exploring U.S. memory production through Intel’s Ohio site. This could improve the industry’s domestic supply chain, but it may also increase competitive capacity over time. SK Hynix Is Eyeing Intel’s Ohio Site
- Negative Sentiment: Michael Burry has reportedly added bearish positions involving Micron and other AI-linked stocks, warning that memory producers could face an intense sell-off as supply increases. The disclosure adds sentiment and valuation risk after MU’s substantial advance. Michael Burry Adds Fresh Shorts
- Negative Sentiment: Citi cautioned that memory-chip prices may not rise as quickly as investors expect, raising the risk of disappointment if earnings guidance does not justify the stock’s elevated expectations. Shares have consequently given back part of their sharp recent gains. Why Micron Stock Might Not Rise as Much as You Think
- Negative Sentiment: A potential labor dispute at Micron’s Taiwan operations, involving demands for a larger profit-sharing arrangement, could raise costs or disrupt production if it escalates. Micron Stock Climbs Despite Plant Labor Dispute
About Micron Technology
Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.
Micron’s products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.
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