Micron Technology (NASDAQ:MU) Given New $180.00 Price Target at TD Cowen

Key Points

• TD Cowen raised its price target for Micron Technology from $150.00 to $180.00, indicating a potential upside of 6.58% based on the company's recent closing price.
• Micron Technology reported a strong earnings performance for the last quarter, with $1.91 EPS surpassing the consensus estimate of $1.57 and revenues of $9.30 billion exceeding expectations.
• Insider activity showed significant stock sales by executives, with CFO Mark J. Murphy selling 34,000 shares, indicating a potential decrease in their ownership commitment.

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective lifted by equities researchers at TD Cowen from $150.00 to $180.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a "buy" rating on the semiconductor manufacturer's stock. TD Cowen's target price would suggest a potential upside of 8.08% from the stock's current price.

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Micron Technology in a report on Thursday, July 10th. They issued a "neutral" rating and a $130.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price target on shares of Micron Technology in a research note on Monday, August 11th. Mizuho boosted their price objective on shares of Micron Technology from $155.00 to $182.00 and gave the company an "outperform" rating in a report on Tuesday, September 16th. Piper Sandler lifted their price target on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Stifel Nicolaus boosted their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.54.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $3.81 during trading on Friday, reaching $166.54. The company had a trading volume of 16,072,807 shares, compared to its average volume of 22,765,398. The firm's fifty day moving average is $123.82 and its 200 day moving average is $105.77. The firm has a market capitalization of $186.37 billion, a PE ratio of 30.00 and a beta of 1.47. Micron Technology has a twelve month low of $61.54 and a twelve month high of $170.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,319 shares of Micron Technology stock in a transaction dated 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 transaction, the chief executive officer owned 340,148 shares in the company, valued at approximately $53,842,026.92. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,946 shares of company stock valued at $34,242,567. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently modified their holdings of MU. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 1.9% in the 2nd 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 grew its position in Micron Technology by 2.7% in the second quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer's stock worth $6,331,795,000 after acquiring an additional 1,349,713 shares during the period. Geode Capital Management LLC grew its position in Micron Technology by 1.2% in the second quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer's stock worth $3,152,974,000 after acquiring an additional 314,489 shares during the period. Norges Bank purchased a new position in shares of Micron Technology during the second quarter worth $1,980,700,000. Finally, Goldman Sachs Group Inc. raised its stake in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after buying an additional 2,038,641 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Company Profile

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.