Micron Technology (NASDAQ:MU) Rating Increased to Outperform at BNP Paribas Exane

Key Points

• Analysts at BNP Paribas Exane upgraded Micron Technology from an "underperform" rating to "outperform," with a price target of $270.00, indicating a potential upside of 48.68%.
• Micron reported earnings of $2.86 per share for the last quarter, matching analysts' expectations, with revenue increasing 46.1% year-over-year.
• Multiple investment firms, including Rosenblatt Securities and Deutsche Bank, raised their price targets for Micron Technology, reflecting growing optimism in the stock with a consensus target price of $194.57.

Micron Technology (NASDAQ:MU - Get Free Report) was upgraded by analysts at BNP Paribas Exane from an "underperform" rating to an "outperform" rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has a $270.00 price target on the semiconductor manufacturer's stock. BNP Paribas Exane's price objective suggests a potential upside of 48.68% from the stock's current price.

A number of other equities research analysts have also issued reports on the stock. Rosenblatt Securities lifted their target price on shares of Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Morgan Stanley raised Micron Technology from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $160.00 to $220.00 in a report on Monday, October 6th. Wells Fargo & Company raised their price objective on shares of Micron Technology from $170.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Finally, Zacks Research upgraded Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of "Buy" and a consensus target price of $194.57.

Micron Technology Stock Down 5.6%

Shares of Micron Technology stock opened at $181.60 on Monday. The business has a 50-day moving average price of $142.80 and a 200 day moving average price of $114.16. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $201.00. The firm has a market cap of $203.84 billion, a P/E ratio of 23.93, a P/E/G ratio of 0.40 and a beta of 1.56. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, hitting analysts' consensus estimates of $2.86. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The company had revenue of $11.32 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same period in the prior year, the business posted $1.18 EPS. 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. On average, sell-side analysts forecast that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the transaction, the director directly owned 96,031 shares in the company, valued at $14,950,106.08. The trade was a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 131,580 shares in the company, valued at $21,584,383.20. The trade was a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,956 shares of company stock worth $22,841,025 over the last quarter. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

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

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