Micron Technology (NASDAQ:MU) Price Target Raised to $240.00

Key Points

• Citigroup raised Micron Technology's price target from $200 to $240, signaling potential upside of over 25% from its previous close.
• The semiconductor manufacturer reported quarterly earnings of $2.86 EPS, meeting analyst expectations, with revenue increasing by 46.1% compared to the previous year.
• Five analysts have given Micron a Strong Buy rating while the majority rate it as a Buy, reflecting strong confidence in the company's performance.

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective boosted by Citigroup from $200.00 to $240.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor manufacturer's stock. Citigroup's price objective indicates a potential upside of 25.04% from the company's previous close.

MU has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Erste Group Bank began coverage on shares of Micron Technology in a research report on Thursday, August 14th. They set a "buy" rating for the company. Raymond James Financial lifted their price objective on shares of Micron Technology from $150.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Summit Insights raised shares of Micron Technology to a "strong-buy" rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Micron Technology in a research report on Tuesday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Buy" and a consensus price target of $196.00.

Micron Technology Trading Up 2.6%

NASDAQ MU opened at $191.94 on Thursday. The firm has a 50 day simple moving average of $147.72 and a 200-day simple moving average of $115.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. Micron Technology has a one year low of $61.54 and a one year high of $201.00. The firm has a market cap of $215.45 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 0.41 and a beta of 1.56.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS for the quarter, meeting the consensus estimate of $2.86. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $11.32 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same quarter last year, the firm posted $1.18 earnings per share. The business's revenue for the quarter was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Equities research analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares of the company's stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,956 shares of company stock valued at $22,841,025. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently modified their holdings of the business. First Command Advisory Services Inc. increased its stake in Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 153 shares during the period. Howard Hughes Medical Institute acquired a new position in Micron Technology in the 2nd quarter valued at $30,000. AlphaQuest LLC increased its stake in Micron Technology by 13,250.0% in the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer's stock valued at $33,000 after buying an additional 265 shares during the period. WealthCollab LLC increased its stake in Micron Technology by 4,500.0% in the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 270 shares during the period. Finally, AllSquare Wealth Management LLC increased its stake in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

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.

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