Micron Technology (NASDAQ:MU) Price Target Raised to $200.00 at Wedbush

Key Points

• Wedbush has raised its price target for Micron Technology's stock from $165.00 to $200.00, indicating a potential upside of 18.36% from its current price and maintaining an "outperform" rating.
• The company recently reported a quarterly earnings per share (EPS) of $1.91, exceeding analysts' estimates by $0.34, with revenue of $9.30 billion against expectations of $8.83 billion.
• Micron's stock has shown strong interest from analysts, with two strong buy ratings, twenty-two buy ratings, and five hold ratings contributing to a consensus rating of "Moderate Buy."

Micron Technology (NASDAQ:MU - Free Report) had its price target hoisted by Wedbush from $165.00 to $200.00 in a research note released on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the semiconductor manufacturer's stock.

MU has been the subject of several other research reports. Wall Street Zen cut shares of Micron Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Wells Fargo & Company increased their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Bank of America increased their target price on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, Mizuho raised their price target on shares of Micron Technology from $155.00 to $182.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.50.

Micron Technology Stock Performance

MU stock traded down $6.16 during mid-day trading on Thursday, reaching $162.73. 37,222,841 shares of the stock traded hands, compared to its average volume of 19,869,376. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology has a 52 week low of $61.54 and a 52 week high of $170.45. The business has a 50-day moving average of $123.82 and a two-hundred day moving average of $105.66. The firm has a market capitalization of $182.12 billion, a PE ratio of 29.32 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results 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 net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the prior year, the company earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities analysts predict that Micron Technology will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Insider Activity at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,946 shares of company stock valued at $34,242,567. Insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $26,000. First Command Advisory Services Inc. increased its holdings in shares of Micron Technology by 225.0% in the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the first quarter valued at approximately $33,000. Finally, AlphaQuest LLC increased its holdings in shares of Micron Technology by 13,250.0% in the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer's stock valued at $33,000 after purchasing an additional 265 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.