Micron Technology (NASDAQ:MU) Price Target Raised to $1,100.00 at Raymond James Financial

Key Points

• Raymond James Financial raised its price target on Micron Technology from $530 to $1,100 and kept an outperform rating, implying modest upside from the current share price.
• Micron’s stock was already surging, trading up 6.2% to about $1,031 and near its 52-week high, as investors reacted to strong momentum in the semiconductor name.
• The company’s latest earnings beat expectations, with EPS of $12.20 and revenue of $23.86 billion, well above analyst estimates, reinforcing bullish sentiment around Micron’s growth.

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective increased by research analysts at Raymond James Financial from $530.00 to $1,100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the semiconductor manufacturer's stock. Raymond James Financial's price target would indicate a potential upside of 6.66% from the company's current price.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus upped their target price on Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Wedbush boosted their target price on shares of Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a report on Friday, March 13th. KeyCorp boosted their price objective on Micron Technology from $450.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. JPMorgan Chase & Co. lifted their target price on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $621.97.

Micron Technology Stock Up 6.2%

MU stock traded up $60.28 during midday trading on Monday, reaching $1,031.28. 12,284,793 shares of the company's stock traded hands, compared to its average volume of 43,208,215. The company has a market cap of $1.16 trillion, a price-to-earnings ratio of 48.95 and a beta of 2.15. The firm's fifty day moving average price is $557.48 and its 200-day moving average price is $412.42. Micron Technology has a 52 week low of $94.40 and a 52 week high of $1,038.94. 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 (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping analysts' consensus estimates of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm's revenue was up 196 compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. As a group, sell-side analysts forecast that Micron Technology will post 58.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the sale, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares of the company's stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 106,000 shares of company stock valued at $47,032,460. 0.24% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

A number of large investors have recently made changes to their positions in MU. Generation Capital Management LLC purchased a new position in Micron Technology during the third quarter worth about $238,000. Wealthfront Advisers LLC increased its holdings in Micron Technology by 9.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock valued at $15,962,000 after purchasing an additional 8,489 shares during the last quarter. Westpac Banking Corp increased its holdings in Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock valued at $3,863,000 after purchasing an additional 16,509 shares during the last quarter. Avanda Investment Management Pte. Ltd. purchased a new stake in Micron Technology in the third quarter valued at approximately $418,000. Finally, Wellington Management Group LLP lifted its stake in Micron Technology by 19.9% during the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock worth $1,196,427,000 after purchasing an additional 1,188,296 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Several recent pieces highlight Micron as a major winner from the AI memory shortage, with analysts and commentators arguing that demand for storage and memory chips is still outpacing supply. Micron and 6 Other Stocks Set to Win Big From the AI Bottleneck
• Positive Sentiment: Micron is being framed as one of the standout AI beneficiaries after its market value briefly crossed the $1 trillion mark, reinforcing the market’s confidence in the company’s growth story. Micron Technology, Inc. (MU) joins the $1 Trillion Club
• Positive Sentiment: Article headlines and commentary suggest Micron could deliver another strong quarter, with expectations for a blowout result on June 24 adding to investor optimism. Prediction: Micron Stock Will Skyrocket After June 24
• Positive Sentiment: Recent reporting also underscores that data-center spending is accelerating, which should support Micron’s memory-chip demand and future revenue growth. The 1 Metric That Tells Me This Tech Stock Is About to Rip Higher -- and It Just Flashed
• Neutral Sentiment: Some coverage notes that Nvidia’s push into PC chips could reshape the broader semiconductor landscape, but Micron is not a direct winner from that move and the impact on MU is indirect. Top 5 Stocks That Will Profit From Nvidia's PC Market Invasion of Intel Territory
• Negative Sentiment: A few articles warn that Micron’s rally may be getting overheated or vulnerable to a pullback after its huge run, suggesting some investors are becoming more cautious at current levels. Micron’s trillion-dollar rally points to a bigger AI problem
• Negative Sentiment: There are also signs of mixed sentiment from hedge-fund reporting, including articles noting that some prominent funds have been selling Micron shares. Micron Technology (MU): Renaissance Technologies Is Selling This Stock

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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