Micron Technology (NASDAQ:MU) Receives Buy Rating from DA Davidson

Key Points

• DA Davidson reiterated a Buy rating on Micron Technology and set a $1,000 price target, implying about 24.79% upside from the then-current share price.
• Other Wall Street firms remain broadly bullish on Micron, with several recent upgrades and raised targets. MarketBeat’s data shows an overall Buy consensus and an average price target of $495.63.
• Micron shares were trading up 7.3% in the article, reflecting strong investor interest amid a broader rally driven by AI-related memory demand and supply shortages.

Micron Technology (NASDAQ:MU - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at DA Davidson in a research report issued on Monday,Benzinga reports. They presently have a $1,000.00 target price on the semiconductor manufacturer's stock. DA Davidson's price objective suggests a potential upside of 24.79% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. Citigroup lowered their target price on Micron Technology from $510.00 to $425.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. Cantor Fitzgerald raised their price objective on Micron Technology from $450.00 to $700.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Phillip Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Micron Technology in a research note on Thursday, January 29th. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $495.63.

Micron Technology Trading Up 7.3%

Shares of Micron Technology stock traded up $54.53 on Monday, hitting $801.34. 48,632,632 shares of the company traded hands, compared to its average volume of 41,370,742. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The company has a market cap of $903.69 billion, a PE ratio of 37.95 and a beta of 1.91. The stock's 50 day moving average price is $435.84 and its 200-day moving average price is $348.07. Micron Technology has a 52 week low of $90.93 and a 52 week high of $818.67.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the sale, the executive vice president directly owned 224,021 shares of the company's stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 104,000 shares of company stock worth $45,458,400 in the last quarter. 0.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock worth $30,427,016,000 after acquiring an additional 1,954,644 shares during the period. State Street Corp grew its holdings in Micron Technology by 2.1% during the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer's stock valued at $15,061,310,000 after purchasing an additional 1,090,644 shares in the last quarter. Capital International Investors increased its stake in Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock worth $3,910,198,000 after buying an additional 155,860 shares during the period. Norges Bank purchased a new stake in Micron Technology during the 4th quarter worth approximately $6,433,456,000. Finally, Morgan Stanley increased its holdings in shares of Micron Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer's stock valued at $4,679,771,000 after purchasing an additional 794,289 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology News Roundup

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts say the AI memory “super-cycle” still has room to run, with Micron benefiting from surging data-center demand, severe supply shortages, and expectations for much higher earnings and cash flow. Micron Exploded From $97 To $747: Here's Why It's Likely Not Over 'Yet'
• Positive Sentiment: Deutsche Bank raised its price target on Micron to $1,000 while keeping a Buy rating, reinforcing the bullish view that the stock can continue to outperform. Wall Street sets Micron stock price target for the next 12 months
• Positive Sentiment: Multiple reports say the memory-chip rally is being driven by AI infrastructure spending, with Micron viewed as a key beneficiary alongside peers such as Western Digital and SanDisk. Why These 3 High-Flying Memory & Storage Stocks Will Rise Further
• Positive Sentiment: Commentary from CNBC, Barron’s, and MarketWatch highlights that Micron is benefiting from a memory-chip shortage and what some analysts call a “virtuous cycle” in the industry, which supports stronger pricing and margins. Micron shares are rising again despite weak overall market. Why memory chip rally seems unstoppable
• Neutral Sentiment: Micron is one of the market’s most closely watched stocks right now, with heavy retail and institutional attention adding to volatility but not changing the underlying business outlook by itself. Micron Technology, Inc. (MU) Is a Trending Stock: Facts to Know Before Betting on It

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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