Micron Technology (NASDAQ:MU) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Micron Technology shares hit a new 52-week high after TD Cowen boosted its price target from $660 to $1,500 and kept a buy rating. The stock traded as high as $1,092.07 on heavy volume.
• Other analysts also turned more bullish on Micron, with firms like Morgan Stanley and Raymond James sharply raising targets amid expectations for strong AI-driven memory demand. Overall, analysts still rate the stock a Buy, with a consensus price target of $788.13.
• Company insiders sold shares recently, including CEO Sanjay Mehrotra, who sold 37,439 shares in late May. Despite the insider selling, institutional investors continue to hold the vast majority of the stock.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares hit a new 52-week high on Monday after TD Cowen raised their price target on the stock from $660.00 to $1,500.00. TD Cowen currently has a buy rating on the stock. Micron Technology traded as high as $1,092.07 and last traded at $1,090.2550, with a volume of 31608154 shares changing hands. The stock had previously closed at $981.61.

Several other equities analysts also recently commented on MU. Rosenblatt Securities reiterated a "buy" rating and set a $500.00 price target on shares of Micron Technology in a report on Monday, March 16th. Bank of America increased their price target on Micron Technology from $400.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Morgan Stanley increased their price target on Micron Technology from $520.00 to $1,050.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. Raymond James Financial increased their price target on Micron Technology from $530.00 to $1,100.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Finally, Wedbush increased their price target on Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a report on Friday, March 13th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $788.13.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 37,439 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $960.38, for a total value of $35,955,666.82. Following the completion of the transaction, the chief executive officer directly owned 387,064 shares of the company's stock, valued at $371,728,524.32. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 146,000 shares of company stock valued at $85,486,715 over the last ninety days. 0.24% of the stock is owned by insiders.

More Micron Technology News

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

• Positive Sentiment: Micron received a major bullish boost after TD Cowen raised its price target to $1,500 and reiterated a buy rating, highlighting strong AI-driven memory demand. Benzinga
• Positive Sentiment: Multiple reports say chip and memory stocks are surging as the AI trade stays strong and memory-chip shortages support a prolonged industry upcycle. Investopedia
• Positive Sentiment: Analysts and market commentary continue to frame Micron as a key beneficiary of AI memory demand, with elevated price targets and strong expectations heading into June 24 earnings. Zacks
• Neutral Sentiment: Investors are also watching social-media chatter and momentum indicators, with some noting Micron’s run-up has left the stock extended and potentially overbought near record highs. Quiver Quantitative
• Neutral Sentiment: One article argues Micron’s post-Broadcom drop may have been overdone, suggesting dip buyers were rewarded as the broader AI-chip rally resumed. Benzinga
• Negative Sentiment: Some recent commentary warns that Micron’s rapid climb may be too stretched, with one piece arguing the stock is now highly overbought and vulnerable to a pullback. Finbold

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp raised its holdings in shares of Micron Technology by 2.1% in the fourth quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer's stock valued at $15,061,310,000 after buying an additional 1,090,644 shares during the last quarter. Capital International Investors raised its holdings in shares of Micron Technology by 0.7% in the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock valued at $3,910,198,000 after buying an additional 155,860 shares during the last quarter. Norges Bank bought a new position in shares of Micron Technology in the fourth quarter valued at about $6,433,456,000. Finally, Morgan Stanley raised its holdings in shares of Micron Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer's stock valued at $4,679,771,000 after buying an additional 794,289 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

The stock has a fifty day moving average of $677.58 and a 200-day moving average of $465.20. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.23 trillion, a P/E ratio of 51.44 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. During the same period in the previous year, the business posted $1.56 earnings per share. The firm's revenue for the quarter was up 196 compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is an increase from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio (DPR) is presently 2.83%.

Micron Technology Company Profile

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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