Micron Technology (NASDAQ:MU) Shares Gap Up Following Analyst Upgrade

Key Points

• Micron Technology shares jumped premarket after Citigroup raised its price target sharply from $425 to $840 and kept a buy rating. The stock opened at $734.96 after closing at $698.74, reflecting continued momentum in the name.
• Broader analyst sentiment remains bullish, with multiple firms recently lifting targets or upgrading ratings, including Needham, Sanford C. Bernstein, KeyCorp, and Phillip Securities. MarketBeat data shows a consensus Buy rating and an average target price of $518.47.
• Investor interest is being supported by AI and memory-chip demand themes, with commentary pointing to stronger pricing, server memory demand, and Micron’s role as a major AI beneficiary. At the same time, some analysts warn the memory market remains cyclical and volatile despite the upbeat outlook.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares gapped up before the market opened on Wednesday after Citigroup raised their price target on the stock from $425.00 to $840.00. The stock had previously closed at $698.74, but opened at $734.96. Citigroup currently has a buy rating on the stock. Micron Technology shares last traded at $712.4750, with a volume of 10,165,002 shares trading hands.

Other research analysts have also issued research reports about the company. Phillip Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Monday, February 2nd. Needham & Company LLC increased their price target on Micron Technology from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. Sanford C. Bernstein raised their price target on Micron Technology from $330.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. William Blair began coverage on Micron Technology in a research note on Thursday, January 22nd. They issued an "outperform" rating on the stock. Finally, KeyCorp upped their price objective on Micron Technology from $450.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of "Buy" and an average target price of $518.47.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction that occurred 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 owned 125,737 shares in the company, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 106,000 shares of company stock valued at $47,032,460 over the last quarter. Company insiders own 0.24% of the company's stock.

Micron Technology News Roundup

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

• Positive Sentiment: Micron shares are rising on the possibility that a Samsung labor dispute could disrupt supply and further strengthen memory-chip pricing. Micron Stock Rises as Memory-Chip Rival Faces Threat of Strike
• Positive Sentiment: Analysts at Citi and Mizuho raised their price targets on Micron, reinforcing the view that the stock still has meaningful upside after its recent rally. Why Micron Stock Just Popped Again
• Positive Sentiment: Several pieces argue that Micron remains a major AI beneficiary, with higher-capacity server memory and enterprise storage demand supporting a longer-term earnings and margin story. How Micron (MU) Is Targeting AI Data Centers With Higher-Capacity Server Memory
• Positive Sentiment: Market commentary also points to a broader AI memory supercycle, with strong revenue growth across the sector suggesting pricing power is improving for Micron and peers. Micron’s AI Profit Boom And US$150b Bet Reshape Memory Cycle Narrative
• Neutral Sentiment: Some analysts caution that memory stocks remain cyclical and that valuation and macro risks could still create volatility even with strong AI-driven demand. Micron Stock Drops But There's Still Reason to Back Memory Chips
• Negative Sentiment: Micron was heavily sold earlier this week on worries about memory demand, valuation after a big run, and semiconductor-sector weakness, which helps explain the recent volatility. Stock Market Today, May 18: Micron Falls as Memory Concerns Test AI Rally

Hedge Funds Weigh In On Micron Technology

A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Micron Technology by 21.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock valued at $435,000 after acquiring an additional 628 shares during the period. United Bank bought a new position in Micron Technology in the 2nd quarter valued at $236,000. Schnieders Capital Management LLC. increased its stake in Micron Technology by 67.9% in the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock worth $2,093,000 after purchasing an additional 6,867 shares during the period. Finally, Sei Investments Co. increased its stake in Micron Technology by 5.6% in the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock worth $49,987,000 after purchasing an additional 21,619 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

The firm has a market capitalization of $797.40 billion, a P/E ratio of 33.48 and a beta of 1.91. The firm has a 50-day moving average price of $491.35 and a two-hundred day moving average price of $378.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a $0.15 dividend. 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 a boost from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's payout ratio is 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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