Micron Technology (NASDAQ:MU) Hits New 12-Month High After Analyst Upgrade

Key Points

• Micron Technology's stock reached a new 52-week high at $160.59 after Susquehanna upgraded its price target from $160.00 to $200.00.
• Insider sales included Director Mary Pat McCarthy selling 2,404 shares and CEO Sanjay Mehrotra selling 7,319 shares, but institutional investors have increased their holdings, owning 80.84% of the company.
• The semiconductor manufacturer reported earnings of $1.91 EPS for its last quarter, surpassing analysts' expectations, with a revenue of $9.30 billion.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday after Susquehanna raised their price target on the stock from $160.00 to $200.00. Susquehanna currently has a positive rating on the stock. Micron Technology traded as high as $160.59 and last traded at $159.99, with a volume of 18729880 shares traded. The stock had previously closed at $158.82.

A number of other research analysts have also recently weighed in on the company. Piper Sandler lifted their price objective on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price objective on shares of Micron Technology in a research report on Monday, August 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Micron Technology in a research report on Monday, August 11th. CLSA began coverage on Micron Technology in a report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target on the stock. Finally, Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $159.65.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the sale, the director owned 20,146 shares of the company's stock, valued at $2,330,287.82. The trade was a 10.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,319 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $158.29, for a total value of $1,158,524.51. Following the completion of the sale, the chief executive officer directly owned 340,148 shares in the company, valued at approximately $53,842,026.92. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,946 shares of company stock worth $34,242,567. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Several large investors have recently modified their holdings of MU. Norges Bank bought a new position in shares of Micron Technology during the 2nd quarter valued at approximately $1,980,700,000. Nuveen LLC bought a new position in shares of Micron Technology during the 1st quarter valued at approximately $369,191,000. Slate Path Capital LP purchased a new position in Micron Technology during the 2nd quarter valued at $317,751,000. Vanguard Group Inc. boosted its holdings in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after acquiring an additional 2,049,163 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in 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 valued at $922,467,000 after acquiring an additional 2,038,641 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Up 0.7%

The stock has a fifty day moving average of $122.14 and a 200-day moving average of $104.54. 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 company has a market cap of $179.05 billion, a PE ratio of 28.83 and a beta of 1.47.

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

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio is currently 8.29%.

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.

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