Micron Technology (NASDAQ:MU) Shares Gap Up - Here's What Happened

Key Points

• Micron Technology shares gapped up in premarket trading, opening above the prior close as investors rotated back into chip stocks after a recent semiconductor selloff.
• Analysts remain broadly bullish, with firms like Wells Fargo, UBS, Deutsche Bank, and Barclays raising price targets and maintaining buy/overweight ratings; the consensus target is about $1,268.93.
• The company’s fundamentals were strong in its latest earnings report, beating estimates on EPS and revenue and benefiting from AI-driven memory demand, while Micron also said memory chip supply may stay tight beyond 2027.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $848.95, but opened at $885.57. Micron Technology shares last traded at $885.0190, with a volume of 6,670,581 shares trading hands.

Micron Technology News Summary

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

• Positive Sentiment: Micron shares are rebounding in premarket trading as investors rotate back into chip stocks after last week’s semiconductor selloff, suggesting some dip-buying is supporting the stock. What's Going on With Micron Technology Stock Monday?
• Positive Sentiment: Morgan Stanley said the recent decline in U.S. memory stocks looks like a buying opportunity, arguing that data center memory shortages remain intense and support the demand outlook for Micron. Selloff of U.S. memory stocks creates a compelling entry point: analyst
• Positive Sentiment: Micron said memory chip supply is likely to stay tight beyond 2027, reinforcing the bullish case that pricing and demand can remain favorable for longer than many investors expected. Micron Says Memory Chip Supply Will Remain Tight Beyond 2027
• Positive Sentiment: Micron’s strong earnings and raised guidance continue to underpin optimism, with bullish commentary focused on AI-related memory demand and the company’s pricing power. Should You Buy Micron Technology Stock While It's Below $1,000?
• Neutral Sentiment: Micron remains highly volatile because the recent selloff reflects broader concerns that the AI and semiconductor trade may have gotten overheated, so traders are still reassessing how much upside is already priced in. Micron (MU) Stock Tumbles Amid Sector Selloff — Why Analysts Remain Bullish
• Neutral Sentiment: Some coverage frames Micron’s move mainly as part of a wider memory-chip and AI-stock rotation, meaning the stock may be trading more on sector sentiment than company-specific news right now. Stock Market Today: Dow Rises On Peace Hopes; Nvidia, Micron, Sandisk Rebound
• Negative Sentiment: Micron has recently fallen sharply, with some reports noting a roughly 30% drop over the past month as investors worry the memory shortage may not last as long as hoped. Micron Stock Set to Snap Losing Streak After SK Hynix Memory Price Warning

Analysts Set New Price Targets

Several brokerages have weighed in on MU. Wells Fargo & Company upped their target price on shares of Micron Technology from $1,220.00 to $1,525.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. UBS Group lifted their price target on shares of Micron Technology from $535.00 to $1,625.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Sanford C. Bernstein set a $1,300.00 price target on Micron Technology in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Micron Technology from $1,500.00 to $1,550.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, Barclays lifted their price objective on Micron Technology from $1,175.00 to $2,000.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Four research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $1,268.93.

Micron Technology Stock Performance

The company has a current ratio of 3.42, a quick ratio of 2.98 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $982.35 billion, a PE ratio of 19.73 and a beta of 2.14. The stock's 50 day moving average price is $949.46 and its two-hundred day moving average price is $602.10.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $21.39 by $3.72. The firm had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.Micron Technology's revenue was up 345.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 72.93 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Monday, July 6th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology's dividend payout ratio (DPR) is presently 1.36%.

Insider Buying and Selling

In other Micron Technology news, Director Lynn A. Dugle sold 1,300 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the transaction, the director directly owned 17,728 shares in the company, valued at approximately $20,394,823.04. This represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 2,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the sale, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 163,300 shares of company stock worth $152,667,204 in the last ninety days. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of MU. Vanguard Group Inc. grew its stake 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 lifted its stake in shares of Micron Technology by 2.1% during the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer's stock worth $15,061,310,000 after purchasing an additional 1,090,644 shares during the period. Norges Bank purchased a new position in shares of Micron Technology during the 4th quarter worth $6,433,456,000. Morgan Stanley boosted 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 worth $4,679,771,000 after purchasing an additional 794,289 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Micron Technology by 1.9% during the fourth quarter. Northern Trust Corp now owns 10,654,349 shares of the semiconductor manufacturer's stock worth $3,040,858,000 after purchasing an additional 194,550 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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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