Micron Technology (NASDAQ:MU) Shares Up 4.2% - Here's What Happened

Key Points

• Micron Technology shares rose by 4.2%, reaching a last trading price of $206.71, following a drop in average session volume by 17% to 19.27 million shares.
• Analysts have notably increased their price targets for Micron, with Wells Fargo raising its target from $170 to $220, and BNP Paribas exane upgrading their rating to "outperform" with a target of $270.
• The company posted earnings of $2.86 EPS for the last quarter, which met expectations, alongside a revenue increase of 46.1% year-over-year, indicating strong business performance.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price shot up 4.2% during trading on Thursday . The company traded as high as $209.00 and last traded at $206.71. 19,274,434 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 23,354,139 shares. The stock had previously closed at $198.47.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Micron Technology from $170.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. BNP Paribas Exane upgraded shares of Micron Technology from an "underperform" rating to an "outperform" rating and set a $270.00 price objective on the stock in a research report on Monday, October 13th. TD Cowen boosted their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Wolfe Research boosted their target price on shares of Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Finally, Summit Insights raised shares of Micron Technology to a "strong-buy" rating in a research note on Tuesday, September 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $200.64.

Micron Technology Stock Performance

The stock has a market cap of $232.03 billion, a PE ratio of 27.23, a PEG ratio of 0.45 and a beta of 1.56. The stock has a fifty day simple moving average of $155.84 and a two-hundred day simple moving average of $120.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

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 was up 46.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd were given a $0.115 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.2%. Micron Technology's dividend payout ratio (DPR) is currently 6.06%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 21,563 shares of the firm's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the completion of the transaction, the chief executive officer owned 272,648 shares of the company's stock, valued at $51,385,968.56. This trade represents a 7.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president owned 131,580 shares of the company's stock, valued at $21,584,383.20. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,256 shares of company stock valued at $25,564,625. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently bought and sold shares of the business. G&S Capital LLC acquired a new stake in Micron Technology during the 3rd quarter worth about $1,658,000. Steinberganna Wealth Management bought a new stake in Micron Technology during the third quarter worth approximately $424,000. Ferguson Wellman Capital Management Inc. increased its position in Micron Technology by 5.5% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 150,593 shares of the semiconductor manufacturer's stock worth $25,197,000 after buying an additional 7,881 shares during the period. Investors Asset Management of Georgia Inc. GA ADV bought a new position in Micron Technology in the 3rd quarter worth approximately $260,000. Finally, Beaumont Financial Advisors LLC bought a new position in Micron Technology in the 3rd quarter worth approximately $231,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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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