Micron Technology (NASDAQ:MU) Shares Up 2.2% After Analyst Upgrade

Key Points

• Micron Technology's stock rose by 2.2% following an analyst upgrade from Barclays, which increased its price target from $195 to $240.
• Several analysts have rated Micron with an overall average rating of "Buy" and an average price target of $200.64, with Citigroup and BNP Paribas also raising their price targets significantly.
• Insider trading activity included the CFO selling 34,000 shares, representing an 11.41% decrease in his position, while institutional investors increased their holdings in the company.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) traded up 2.2% during mid-day trading on Monday after Barclays raised their price target on the stock from $195.00 to $240.00. Barclays currently has an overweight rating on the stock. Micron Technology traded as high as $214.75 and last traded at $206.77. 22,651,790 shares traded hands during trading, a decline of 3% from the average session volume of 23,441,180 shares. The stock had previously closed at $202.38.

Other equities analysts have also issued reports about the stock. Citigroup increased their price objective on shares of Micron Technology from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday. BNP Paribas raised shares of Micron Technology from a "strong sell" rating to a "strong-buy" rating in a report on Monday, October 13th. Wells Fargo & Company lifted their price target on shares of Micron Technology from $170.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Zacks Research raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Finally, TD Cowen lifted their target price on shares of Micron Technology from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $200.64.

Insider Buying and Selling

In related news, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the transaction, the director owned 96,031 shares of the company's stock, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MU. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Micron Technology by 2.4% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 237,200 shares of the semiconductor manufacturer's stock worth $39,688,000 after purchasing an additional 5,600 shares during the last quarter. Smith Salley Wealth Management grew its holdings in Micron Technology by 462.1% in the 3rd quarter. Smith Salley Wealth Management now owns 17,082 shares of the semiconductor manufacturer's stock valued at $2,858,000 after buying an additional 14,043 shares during the last quarter. Forefront Wealth Partners LLC raised its stake in Micron Technology by 9.2% during the 3rd quarter. Forefront Wealth Partners LLC now owns 5,134 shares of the semiconductor manufacturer's stock valued at $859,000 after purchasing an additional 433 shares during the last quarter. Ascent Group LLC raised its position in shares of Micron Technology by 180.3% during the third quarter. Ascent Group LLC now owns 13,915 shares of the semiconductor manufacturer's stock valued at $2,328,000 after buying an additional 8,951 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Micron Technology by 80.3% during the third quarter. Sivia Capital Partners LLC now owns 6,362 shares of the semiconductor manufacturer's stock valued at $1,065,000 after buying an additional 2,834 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

The stock's 50-day moving average price is $151.20 and its 200 day moving average price is $118.00. The firm has a market cap of $232.09 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 0.45 and a beta of 1.56. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS for the quarter, meeting the consensus estimate of $2.86. The company had revenue of $11.32 billion during the quarter, compared to analysts' expectations of $11.05 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business's revenue for the quarter was up 46.1% on a year-over-year basis. During the same period last year, the firm earned $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Equities research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology's payout ratio is 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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