CLSA Begins Coverage on Micron Technology (NASDAQ:MU)

Key Points

• CLSA has initiated coverage on Micron Technology (NASDAQ: MU) with an **"outperform" rating** and a price target of **$155.00**, suggesting a **33.05% upside** potential from its current price.
• Multiple research firms have recently increased their price targets for Micron, with estimates reaching as high as **$185.00** from JPMorgan Chase, indicating strong analyst support for the stock.
• Micron Technology reported better-than-expected quarterly earnings of **$1.91 per share**, outperforming the consensus estimate, alongside revenues of **$9.30 billion** for the quarter.

Research analysts at CLSA began coverage on shares of Micron Technology (NASDAQ:MU - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set an "outperform" rating and a $155.00 price target on the semiconductor manufacturer's stock. CLSA's price objective would indicate a potential upside of 27.05% from the company's previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Piper Sandler boosted their target price on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Morgan Stanley boosted their target price on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target of $147.54.

Micron Technology Trading Up 3.6%

Shares of NASDAQ:MU traded up $4.25 during trading on Wednesday, reaching $122.00. The stock had a trading volume of 17,265,427 shares, compared to its average volume of 18,692,428. The firm's fifty day moving average is $118.26 and its 200 day moving average is $100.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology has a 52 week low of $61.54 and a 52 week high of $129.85. The stock has a market cap of $136.53 billion, a price-to-earnings ratio of 21.98 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities analysts forecast that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Activity

In other news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president owned 186,353 shares in the company, valued at $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. First Command Advisory Services Inc. raised its holdings in shares of Micron Technology by 225.0% in the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. Howard Hughes Medical Institute bought a new position in Micron Technology during the second quarter valued at about $30,000. AlphaQuest LLC grew its position in 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 buying an additional 265 shares during the period. WealthCollab LLC grew its position in 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 buying an additional 270 shares during the period. Finally, Hilltop National Bank bought a new position in Micron Technology during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Company Profile

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.