Micron Technology (NASDAQ:MU) Shares Up 6% - Should You Buy?

Key Points

• Micron Technology's share price increased by 6% to $219.02, with trading volume rising to over 25 million shares, exceeding its average.
• Multiple analysts have raised their target prices for Micron, with Barclays setting a new high of $240.00, reflecting strong market confidence.
• The company reported quarterly earnings of $2.86 per share, meeting expectations, with revenue of $11.32 billion, marking a year-over-year increase of 46.1%.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price shot up 6% on Friday . The company traded as high as $219.82 and last traded at $219.02. 25,718,706 shares were traded during mid-day trading, an increase of 10% from the average session volume of 23,381,293 shares. The stock had previously closed at $206.71.

Analysts Set New Price Targets

MU has been the topic of a number of research reports. Barclays boosted their target price on shares of Micron Technology from $195.00 to $240.00 and gave the stock an "overweight" rating in a research report on Monday. KeyCorp boosted their target price on shares of Micron Technology from $160.00 to $215.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Piper Sandler boosted their target price on shares of Micron Technology from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Erste Group Bank initiated coverage on shares of Micron Technology in a research report on Thursday, August 14th. They set a "buy" rating on the stock. Finally, Susquehanna boosted their target price on shares of Micron Technology from $160.00 to $200.00 and gave the stock a "positive" rating in a research report on Wednesday, September 17th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of "Buy" and a consensus target price of $200.64.

Micron Technology Price Performance

The stock has a market cap of $245.84 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 0.44 and a beta of 1.56. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The company's fifty day simple moving average is $157.46 and its 200-day simple moving average is $121.07.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.86. The firm had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business's revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Activity

In other news, CEO Sanjay Mehrotra sold 19,761 shares of the business's stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $203.12, for a total value of $4,013,854.32. Following the sale, the chief executive officer owned 469,078 shares in the company, valued at approximately $95,279,123.36. The trade was a 4.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of the sale, the director owned 96,031 shares in the company, valued at $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,256 shares of company stock worth $25,564,625 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at $27,000. First Command Advisory Services Inc. boosted its stake in shares of Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in Micron Technology during the 2nd quarter worth about $30,000. AlphaQuest LLC lifted its position in Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer's stock worth $33,000 after buying an additional 265 shares in the last quarter. Finally, WealthCollab LLC lifted its position in Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 270 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

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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