Micron Technology (NASDAQ:MU) Stock Price Up 11.7% on Analyst Upgrade

Key Points

• Micron Technology shares jumped 11.7% after Wolfe Research raised its price target from $550 to $1,250 and maintained an outperform rating. The stock briefly traded as high as $996.77 on heavy volume.
• Other analysts have also turned more bullish, with several firms lifting price targets as optimism builds around AI-driven memory demand. Micron currently has a consensus rating of Buy and an average target price of $737.63.
• Despite the rally, insider selling has been notable, including recent sales by the company’s director and CEO. Insiders sold 146,000 shares worth about $85.5 million over the last 90 days.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price rose 11.7% on Thursday after Wolfe Research raised their price target on the stock from $550.00 to $1,250.00. Wolfe Research currently has an outperform rating on the stock. Micron Technology traded as high as $996.77 and last traded at $995.87. Approximately 57,994,342 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 44,513,723 shares. The stock had previously closed at $891.88.

A number of other research firms also recently weighed in on MU. JPMorgan Chase & Co. boosted their target price on Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Erste Group Bank downgraded Micron Technology from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Mizuho boosted their price objective on Micron Technology to $800.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. UBS Group boosted their price objective on Micron Technology from $535.00 to $1,625.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Finally, Barclays boosted their price objective on Micron Technology from $450.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $737.63.

Insiders Place Their Bets

In related news, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares of the company's stock, valued at approximately $227,643,978.78. This represents a 8.61% 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 ninety days. Insiders own 0.24% of the company's stock.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Wolfe Research raised its price target on Micron, adding to a cluster of optimistic Wall Street calls that points to more upside if AI memory demand stays strong. Micron Is Already Up 223% This Year. Wolfe Research Sees More Upside.
• Positive Sentiment: Nvidia CEO Jensen Huang singled out Micron as a key AI spending winner, reinforcing confidence in MU’s HBM leadership and role in next-generation AI systems. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns.
• Positive Sentiment: Micron secured certification for HBM4 memory on Nvidia’s upcoming Vera Rubin platform, a signal that its products are deeply embedded in the AI hardware buildout. Nvidia Corp Strengthens AI Platform with Micron HBM4
• Positive Sentiment: Micron’s New York megafab project advanced with Bechtel as construction partner, supporting long-term U.S. manufacturing expansion and supply-chain resilience. Micron New York Megafab With Bechtel Reshapes AI Memory Supply Story
• Positive Sentiment: Analysts continue to lift earnings estimates and price targets, reflecting confidence that AI-driven memory demand is supporting strong margins and earnings power. Can Micron Stock Keep Climbing? New Analyst Calls Offer Clues Ahead of Q3 Earnings
• Neutral Sentiment: Micron appointed Dr. Alexis Black Björlin to its board, adding AI, cloud, and semiconductor expertise, but the move is more strategic than immediately financial. Micron Appoints Alexis Black Björlin to Board of Directors
• Neutral Sentiment: Some articles note the recent pullback may simply reflect profit-taking after a massive rally and broader semiconductor volatility rather than a change in Micron’s fundamentals. Micron Stock (MU) Rebounds after a Two-Day Slide — What’s Driving the Recovery?
• Negative Sentiment: Recent weakness has been tied to a risk-off move in AI and chip stocks, with investors worried about valuations and macro/geopolitical pressure. Stock Market Today, June 10
• Negative Sentiment: Several pieces highlight that MU had run up sharply this year, so traders may be locking in gains while waiting for the next earnings catalyst on June 24. Is Micron’s Stock Price Dip a Buying Opportunity?

Hedge Funds Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. High Note Wealth LLC grew its stake 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 purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC grew its stake 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 purchasing an additional 71 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Micron Technology in the first quarter worth $27,000. Steigerwald Gordon & Koch Inc. grew its stake 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 purchasing an additional 96 shares during the period. Finally, Bayban purchased a new stake in Micron Technology in the fourth quarter worth $29,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

The company has a market capitalization of $1.12 trillion, a PE ratio of 47.02 and a beta of 2.16. The company has a 50 day moving average of $652.14 and a two-hundred day moving average of $454.31. 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 issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to analysts' expectations of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The firm's revenue for the quarter was up 196 on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. As a group, equities research analysts predict that Micron Technology, Inc. will post 59.12 earnings per share for the current year.

Micron Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a $0.15 dividend. This is an increase from Micron Technology's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology's 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.