Micron Technology (NASDAQ:MU) Price Target Raised to $173.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised Micron Technology's price target from $145 to $173, maintaining a "buy" rating which suggests a potential upside of 4.27% from its current price.
• Other brokerages have also increased their targets, with Deutsche Bank now at $175 and UBS Group at $185, indicating strong overall market confidence in the stock.
• Micron Technology's stock has recently traded at $165.91, up 2.0%, with an earnings report revealing $1.91 EPS for the last quarter, exceeding expectations.

Micron Technology (NASDAQ:MU - Get Free Report) had its target price upped by equities researchers at Stifel Nicolaus from $145.00 to $173.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor manufacturer's stock. Stifel Nicolaus' price objective suggests a potential upside of 2.68% from the stock's previous close.

A number of other equities research analysts have also weighed in on MU. Barclays lifted their price objective on Micron Technology from $140.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday. Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Wall Street Zen downgraded shares of Micron Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Zacks Research upgraded Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, Susquehanna lifted their price objective on shares of Micron Technology from $160.00 to $200.00 and gave the company a "positive" rating in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $165.54.

Micron Technology Stock Up 2.3%

Shares of NASDAQ MU traded up $3.87 during trading on Monday, hitting $168.49. 5,862,903 shares of the company traded hands, compared to its average volume of 22,722,451. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The business's fifty day moving average is $124.74 and its 200 day moving average is $106.27. The firm has a market capitalization of $188.55 billion, a price-to-earnings ratio of 30.36 and a beta of 1.47. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $170.45.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. 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. Equities research analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. This represents a 22.53% 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, CEO Sanjay Mehrotra sold 13,798 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the transaction, the chief executive officer owned 325,148 shares in the company, valued at $52,739,005.60. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,946 shares of company stock worth $32,306,159 over the last ninety days. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Micron Technology by 1.9% in the second quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer's stock valued at $12,803,168,000 after acquiring an additional 1,973,294 shares during the period. State Street Corp raised its stake in shares of Micron Technology by 2.7% during the 2nd quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer's stock worth $6,331,795,000 after buying an additional 1,349,713 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Micron Technology by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer's stock worth $3,152,974,000 after buying an additional 314,489 shares during the last quarter. Norges Bank acquired a new position in shares of Micron Technology during the 2nd quarter worth $1,980,700,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after buying an additional 2,038,641 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

About Micron Technology

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.