Micron Technology (NASDAQ:MU) Shares Up 10.8% on Analyst Upgrade

Key Points

• Micron Technology shares jumped 10.8% after TD Cowen hiked its price target from $660 to $1,500 and kept a Buy rating, helping push the stock to an intraday high of $1,097.47.
• Analyst sentiment remains broadly bullish, with several firms raising targets on expectations for AI-driven memory demand and a stronger memory pricing cycle. MarketBeat data shows a consensus Buy rating and an average target price of $788.13.
• Recent commentary highlights both upside and risk: Micron has benefited from tight DRAM/NAND supply and strong earnings, but some observers warn the stock is overbought and could be volatile heading into earnings.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price rose 10.8% during trading 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 $1,097.47 and last traded at $1,087.99. Approximately 44,132,515 shares were traded during trading, a decline of 1% from the average daily volume of 44,494,410 shares. The stock had previously closed at $981.61.

A number of other equities analysts also recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Micron Technology in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Mizuho boosted their price objective on Micron Technology to $800.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Wedbush boosted their price objective on Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a research report on Friday, March 13th. Finally, DA Davidson initiated coverage on Micron Technology in a research report on Monday, May 11th. They set a "buy" rating and a $1,000.00 price objective for the company. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of "Buy" and a consensus target price of $788.13.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares of the company's stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 146,000 shares of company stock worth $85,486,715 in the last three months. 0.24% of the stock is owned by company insiders.

Key Micron Technology News

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

• Positive Sentiment: TD Cowen sharply raised its price target on Micron to $1,500 and kept a Buy rating, citing AI-driven memory demand and pricing strength that could extend through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: RBC also lifted its target on Micron, saying a stronger memory cycle and AI demand justify a higher valuation, adding to the bullish analyst backdrop. Micron Price Target Raised at RBC on Stronger Memory Cycle, AI Demand
• Positive Sentiment: Multiple articles highlighted ongoing AI-memory shortages and broad semiconductor strength, supporting the view that Micron’s DRAM and NAND pricing could remain firm. Micron Stock Surges as Memory-Chip Shortage Bites
• Neutral Sentiment: Micron is approaching earnings with elevated expectations, and some commentary notes the stock is extremely overbought after a huge run, which could make the next report a volatility event rather than a one-way move. Micron stock turns most overbought in 30 years: Time to sell?
• Neutral Sentiment: Option-market data shows very bearish positioning and unusually high implied volatility, suggesting traders are bracing for a large move and pricing in event risk around earnings and geopolitics. Micron: Why Option Market Prices Key Risks Differently
• Negative Sentiment: Some bearish/contrarian pieces warn that MU’s huge rally has made the stock vulnerable to a pullback if earnings or guidance fail to meet lofty expectations. Micron Q3 Preview: Am I Buying More? No; Am I Done? Not At All (Rating Downgrade)

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MU. High Note Wealth LLC raised its position in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Elevation Wealth Partners LLC raised its position in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock worth $27,000 after acquiring an additional 71 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Micron Technology in the first quarter worth $27,000. Steigerwald Gordon & Koch Inc. raised its position in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Finally, Bayban purchased a new position in Micron Technology in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

The company has a 50-day simple moving average of $677.58 and a 200-day simple moving average of $465.20. The stock has a market cap of $1.23 trillion, a PE ratio of 51.37 and a beta of 2.16. 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 (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.Micron Technology's revenue was up 196 compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology's dividend payout ratio is currently 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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