Micron Technology (NASDAQ:MU) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Micron Technology shares hit a new 12-month high of $203.16 following an upgrade from Citigroup, which raised its price target from $200.00 to $240.00.
• Micron reported strong quarterly earnings of $2.86 EPS and a revenue increase of 46.1% year-over-year, surpassing analysts' expectations with revenues of $11.32 billion.
• The company recently declared a quarterly dividend of $0.115, reflecting a dividend yield of 0.2%, with a dividend payout ratio (DPR) of 6.06%.

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) reached a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock from $200.00 to $240.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $202.00 and last traded at $203.16, with a volume of 9432274 shares. The stock had previously closed at $191.94.

MU has been the subject of several other reports. Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. CLSA assumed coverage on Micron Technology in a research report on Wednesday, August 27th. They set an "outperform" rating and a $155.00 price target for the company. KGI Securities upgraded Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 24th. TD Cowen increased their price target on Micron Technology from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Finally, Wedbush increased their price objective on Micron Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Five analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Micron Technology has an average rating of "Buy" and an average price target of $196.00.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 21,563 shares of the business's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $188.47, for a total value of $4,063,978.61. Following the sale, the chief executive officer directly owned 272,648 shares of the company's stock, valued at approximately $51,385,968.56. The trade was a 7.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of the sale, the director directly owned 96,031 shares in the company, valued at approximately $14,950,106.08. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,956 shares of company stock valued at $22,841,025. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds have recently added to or reduced their stakes in MU. Norges Bank bought a new stake in Micron Technology during the 2nd quarter valued at $1,980,700,000. Nuveen LLC bought a new position in shares of Micron Technology during the first quarter valued at approximately $369,191,000. Slate Path Capital LP bought a new stake in shares of Micron Technology during the second quarter valued at approximately $317,751,000. Vanguard Group Inc. raised its stake in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Micron Technology by 23.8% during 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 and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Performance

The firm's 50 day simple moving average is $147.72 and its 200 day simple moving average is $115.92. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The firm has a market cap of $229.47 billion, a PE ratio of 26.77, a PEG ratio of 0.41 and a beta of 1.56.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS 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 business had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the prior year, the firm earned $1.18 EPS. The company'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, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's dividend payout ratio (DPR) is currently 6.06%.

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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