Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Micron Technology's price target was raised from $150.00 to $175.00 by Citigroup, suggesting a potential upside of 15.81% from its previous close.
• The company's stock has a current average rating of "Moderate Buy" with an average price target of $148.50, with various analysts issuing "buy" and "strong buy" ratings.
• Micron's stock traded up 7.9% on Thursday, reaching $151.11, and the company reported strong earnings of $1.91 per share, exceeding estimates.

Micron Technology (NASDAQ:MU - Free Report) had its price objective hoisted by Citigroup from $150.00 to $175.00 in a research note published on Thursday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the semiconductor manufacturer's stock.

Several other research firms have also recently commented on MU. Susquehanna upped their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Thursday, June 26th. The Goldman Sachs Group began coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 target price for the company. TD Cowen upped their target price on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wedbush upped their target price on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Finally, Piper Sandler upped their target price on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.76.

Micron Technology Stock Performance

Shares of NASDAQ MU traded up $6.66 during trading hours on Thursday, hitting $157.23. 32,223,879 shares of the stock were exchanged, compared to its average volume of 18,134,322. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company's 50 day moving average is $119.94 and its 200 day moving average is $103.21. The firm has a market capitalization of $175.96 billion, a P/E ratio of 28.33 and a beta of 1.47. Micron Technology has a one year low of $61.54 and a one year high of $158.28.

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, topping the consensus estimate 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 earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts expect that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director owned 20,146 shares in the company, valued at $2,330,287.82. This trade represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,946 shares of company stock worth $33,962,819 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 have recently made changes to their positions in the company. Valeo Financial Advisors LLC increased its position in shares of Micron Technology by 15.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,750 shares of the semiconductor manufacturer's stock worth $1,325,000 after purchasing an additional 1,447 shares in the last quarter. Silicon Valley Capital Partners increased its position in shares of Micron Technology by 56.1% during the 2nd quarter. Silicon Valley Capital Partners now owns 5,583 shares of the semiconductor manufacturer's stock worth $688,000 after purchasing an additional 2,006 shares in the last quarter. WT Wealth Management acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $260,000. SevenBridge Financial Group LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $232,000. Finally, Orion Porfolio Solutions LLC increased its position in shares of Micron Technology by 8.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 58,300 shares of the semiconductor manufacturer's stock worth $7,185,000 after purchasing an additional 4,583 shares in 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.