Micron Technology (NASDAQ:MU) Given New $950.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target on Micron Technology from $500 to $950 while keeping a Buy rating, citing strong demand for AI server and data center memory chips. The new target implies about 19.8% upside from the prior close.
• Micron’s shares were trading sharply higher, up to $792.79 in Wednesday midday trading, near the stock’s 52-week high. The company also carries a strong analyst backdrop, with a consensus Buy rating and an average price target of $510.63.
• The article notes that Micron remains a major beneficiary of the AI infrastructure buildout, but some commentary warns the stock could become more volatile after its huge rally. Investors are also watching upcoming results as a key catalyst that could extend gains or trigger profit-taking.

Micron Technology (NASDAQ:MU - Get Free Report) had its price target increased by equities researchers at Bank of America from $500.00 to $950.00 in a research report issued on Wednesday. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. Bank of America's price target would suggest a potential upside of 19.83% from the company's previous close.

Several other analysts have also recently commented on MU. Weiss Ratings reiterated a "buy (b-)" rating on shares of Micron Technology in a research note on Thursday, January 29th. TD Cowen boosted their target price on shares of Micron Technology from $550.00 to $660.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Summit Insights downgraded shares of Micron Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 19th. UBS Group boosted their target price on shares of Micron Technology from $510.00 to $535.00 and gave the company a "buy" rating in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada boosted their price objective on shares of Micron Technology from $425.00 to $525.00 and gave the stock an "outperform" rating in a research note on Monday, March 16th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $510.63.

Micron Technology Price Performance

Shares of NASDAQ MU traded up $26.21 during midday trading on Wednesday, hitting $792.79. The company had a trading volume of 30,346,591 shares, compared to its average volume of 41,852,871. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology has a twelve month low of $90.93 and a twelve month high of $818.67. The business has a 50-day simple moving average of $456.87 and a two-hundred day simple moving average of $360.05. The firm has a market capitalization of $894.06 billion, a price-to-earnings ratio of 37.44 and a beta of 1.91.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares of the company's stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the transaction, the executive vice president directly owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 104,000 shares of company stock valued at $45,458,400 over the last ninety days. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock valued at $30,427,016,000 after acquiring an additional 1,954,644 shares in the last quarter. State Street Corp raised its stake in shares of Micron Technology by 2.1% during the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer's stock worth $15,061,310,000 after purchasing an additional 1,090,644 shares in the last quarter. Capital International Investors raised its stake in shares of Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock worth $3,910,198,000 after purchasing an additional 155,860 shares in the last quarter. Norges Bank bought a new stake in Micron Technology in the 4th quarter valued at $6,433,456,000. Finally, Morgan Stanley grew its holdings in Micron Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer's stock valued at $4,679,771,000 after buying an additional 794,289 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology News Summary

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

• Positive Sentiment: Bank of America raised its price target on Micron to $950 from $500 and kept a Buy rating, saying demand for high-performance memory chips used in AI servers and data centers continues to outpace supply. BofA Sees More Room for Micron's AI Rally
• Positive Sentiment: Multiple articles highlight Micron as a key beneficiary of the AI infrastructure buildout, with memory chips increasingly viewed as a bottleneck that could support pricing power, stronger margins, and further upside. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Positive Sentiment: Investors are also reacting to broader semiconductor tailwinds tied to U.S.-China tech talks and memory supply constraints, which could improve sentiment across the chip supply chain. Buy Micron, Nvidia Ahead Of Trump-Xi Summit
• Neutral Sentiment: Some commentary warns the stock may be entering a more volatile phase after a very sharp rally, with June quarter results now a key catalyst that could either extend momentum or trigger profit-taking. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: Several pieces note that Micron’s rapid gains have made the stock vulnerable to pullbacks if investors take profits or if the market starts questioning valuation after the parabolic move. What's Going On With Micron Technology Stock Tuesday?

About Micron Technology

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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