Micron Technology (NASDAQ:MU) Reaches New 1-Year High After Analyst Upgrade

Key Points

• Micron Technology shares reached a new 52-week high at $156.26 after Citigroup raised its price target for the stock from $150 to $175, with a current buy rating.
• Several other firms, including JPMorgan and Piper Sandler, have also increased their price targets on Micron Technology, reflecting strong support with an average rating of "Moderate Buy."
• The company's recent quarterly earnings report showed an EPS of $1.91, exceeding analysts' estimates, and it declared a quarterly dividend of $0.115, representing an annual yield of 0.3%.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday after Citigroup raised their price target on the stock from $150.00 to $175.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $156.26 and last traded at $150.57, with a volume of 52376371 shares trading hands. The stock had previously closed at $140.00.

Several other research firms have also recently commented on MU. JPMorgan Chase & Co. upped their price target on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Piper Sandler upped their price target on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. KGI Securities cut Micron Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. CLSA assumed coverage on Micron Technology in a research note on Wednesday, August 27th. They set an "outperform" rating and a $155.00 price target for the company. Finally, Cantor Fitzgerald upped their price target on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $151.76.

Insiders Place Their Bets

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total value of $2,502,200.00. Following the completion of the transaction, the executive vice president owned 166,353 shares in the company, valued at $20,812,423.83. This trade represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,446 shares of company stock valued at $32,908,469. Company insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

A number of large investors have recently made changes to their positions in the stock. Silicon Valley Capital Partners boosted its stake in shares of Micron Technology by 56.1% during the second quarter. Silicon Valley Capital Partners now owns 5,583 shares of the semiconductor manufacturer's stock valued at $688,000 after acquiring an additional 2,006 shares during the last quarter. WT Wealth Management acquired a new stake in shares of Micron Technology during the second quarter valued at $260,000. SevenBridge Financial Group LLC acquired a new stake in shares of Micron Technology during the second quarter valued at $232,000. Orion Porfolio Solutions LLC boosted its stake in shares of Micron Technology by 8.5% during the second quarter. Orion Porfolio Solutions LLC now owns 58,300 shares of the semiconductor manufacturer's stock valued at $7,185,000 after acquiring an additional 4,583 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Micron Technology by 1,193.4% during the second quarter. Thrivent Financial for Lutherans now owns 611,383 shares of the semiconductor manufacturer's stock valued at $75,359,000 after acquiring an additional 564,113 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Up 7.6%

The business has a 50 day moving average of $119.23 and a 200 day moving average of $102.77. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $168.51 billion, a price-to-earnings ratio of 27.13 and a beta of 1.47.

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

Micron Technology Announces Dividend

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

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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