Micron Technology (NASDAQ:MU) Given New $1,500.00 Price Target at TD Cowen

Key Points

• TD Cowen sharply raised its price target on Micron Technology from $660 to $1,500 and maintained a buy rating, implying about 40% upside from the prior close.
• Other analysts have also turned more bullish, with several lifting targets and the overall consensus still at Buy; MarketBeat shows a consensus price target of $788.13.
• Micron shares were up 8.9% on the day to $1,068.82, after a strong earnings report and continued investor enthusiasm around AI-driven memory demand and tighter chip supply.

Micron Technology (NASDAQ:MU - Get Free Report) had its target price boosted by TD Cowen from $660.00 to $1,500.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. TD Cowen's price target points to a potential upside of 40.34% from the stock's previous close.

A number of other research analysts also recently commented on the company. Needham & Company LLC raised their price target on Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Sanford C. Bernstein raised their price target on Micron Technology from $330.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 18th. Susquehanna raised their price target on Micron Technology from $600.00 to $1,750.00 and gave the stock a "positive" rating in a research note on Friday, May 29th. Morgan Stanley raised their price target on Micron Technology from $520.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Finally, Stifel Nicolaus increased their price objective on Micron Technology from $360.00 to $550.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $788.13.

Micron Technology Trading Up 8.9%

MU traded up $87.21 during mid-day trading on Monday, hitting $1,068.82. 19,484,361 shares of the stock were exchanged, compared to its average volume of 44,261,633. The firm's fifty day moving average is $677.58 and its two-hundred day moving average is $465.20. Micron Technology has a 1-year low of $103.38 and a 1-year high of $1,089.29. 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 company has a market cap of $1.21 trillion, a PE ratio of 50.59 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 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 company had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. During the same quarter in the prior year, the business earned $1.56 EPS. Micron Technology's revenue was up 196 on a year-over-year basis. Equities analysts forecast that Micron Technology will post 59.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the business'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 sale, the director directly owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Micron Technology in the fourth quarter worth about $6,433,456,000. AQR Capital Management LLC lifted its stake in shares of Micron Technology by 411.9% in the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer's stock worth $606,873,000 after acquiring an additional 2,918,535 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Micron Technology by 1,340.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer's stock worth $805,148,000 after acquiring an additional 2,625,169 shares in the last quarter. Amundi lifted its stake in shares of Micron Technology by 65.0% in the fourth quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer's stock worth $1,424,025,000 after acquiring an additional 1,965,319 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock worth $30,427,016,000 after acquiring an additional 1,954,644 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology News Roundup

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts are getting more bullish on Micron’s outlook, with higher price targets tied to stronger DRAM pricing, AI-driven demand, and long-term earnings power. Micron Price Target Raised at RBC on Stronger Memory Cycle, AI Demand
• Positive Sentiment: Micron is benefiting from a broader surge in AI memory stocks, with memory-chip shortage concerns and an improving memory cycle helping lift the shares. Micron Stock Surges as Memory-Chip Shortage Bites
• Positive Sentiment: Micron’s upcoming Q3 report is expected to show the payoff from its recent run-up, as investors anticipate strong results from AI-related demand and favorable industry conditions. Micron Q3 Preview: Expecting Historical Run-Up To Translate To Extraordinary Results
• Positive Sentiment: Micron is drawing attention as a possible way to gain more AI exposure, including leveraged ETF ideas, reflecting strong investor enthusiasm for the stock. Looking for More Exposure to Micron Stock (MU) Ahead of June 24 Earnings? These 2 ETFs Offer a 2x Play
• Neutral Sentiment: Micron remains one of the market’s most-watched stocks, with recent articles largely focusing on whether the AI rally can continue rather than on any new company-specific setback. Is Trending Stock Micron Technology, Inc. (MU) a Buy Now?
• Negative Sentiment: Some commentary warns the stock may be extremely overbought after a huge rally, raising the risk of a sharp pullback if earnings or guidance disappoint. Micron stock turns most overbought in 30 years: Time to sell?
• Negative Sentiment: A key risk heading into earnings is whether Micron can meet its ambitious record-revenue outlook, making the June 24 report a major catalyst for volatility. Micron Reports Earnings June 24. Here's the One Number That May Make or Break the 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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