Micron Technology (NASDAQ:MU) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Micron Technology has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, indicating a more cautious outlook from analysts.
• Despite the downgrade, Micron has received positive updates from other analysts, with target prices being raised for the stock, suggesting continued optimism for its performance.
• Micron Technology reported a quarterly revenue of $9.30 billion and EPS of $1.91, surpassing consensus estimates, and is expected to post an average EPS of 6.08 for the current year.

Micron Technology (NASDAQ:MU - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Other analysts have also recently issued reports about the company. Morgan Stanley raised their target price on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. raised their target price on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Arete Research raised Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Wedbush raised their target price on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Finally, Robert W. Baird raised their target price on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $151.76.

Micron Technology Stock Up 4.4%

MU opened at $157.23 on Friday. The company has a market cap of $175.96 billion, a P/E ratio of 28.33 and a beta of 1.47. The business's 50-day moving average price is $119.94 and its 200-day moving average price is $103.21. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology has a 12 month low of $61.54 and a 12 month high of $158.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same quarter in the previous year, the business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities analysts expect that Micron Technology will post 6.08 EPS for the current year.

Insider Transactions at Micron Technology

In related news, 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 value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,946 shares of company stock worth $33,962,819 in the last quarter. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently bought and sold shares of the company. Mission Wealth Management LP lifted its position in Micron Technology by 195.2% during the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after purchasing an additional 10,348 shares during the period. Centre Asset Management LLC purchased a new position in Micron Technology in the first quarter valued at $7,720,000. Czech National Bank increased its holdings in Micron Technology by 6.4% in the first quarter. Czech National Bank now owns 255,908 shares of the semiconductor manufacturer's stock valued at $22,236,000 after buying an additional 15,485 shares in the last quarter. TB Alternative Assets Ltd. increased its stake in shares of Micron Technology by 331.3% during the first quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer's stock worth $6,933,000 after purchasing an additional 61,288 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new stake in shares of Micron Technology during the first quarter worth about $228,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.