Micron Technology (NASDAQ:MU) Stock Price Up 2.2% on Analyst Upgrade

Key Points

• Micron Technology shares rose 2.2% after Citigroup boosted its price target from $840 to $1,200 and kept a buy rating on the stock. The shares briefly hit an intraday high of $1,093.67.
• Analyst sentiment remains broadly positive, with several firms raising targets on the back of tight memory supply, stronger pricing, and durable AI infrastructure demand. MarketBeat data shows an average rating of "Buy" and an average price target of $831.80.
• The company has also been benefiting from strong AI memory demand, especially for HBM and DRAM, while some commentary notes the stock’s huge rally has pushed valuation and cyclical risk into focus. Micron recently reported earnings and revenue well above expectations, reinforcing bullish expectations heading into future results.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price rose 2.2% on Wednesday after Citigroup raised their price target on the stock from $840.00 to $1,200.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $1,093.67 and last traded at $1,043.19. Approximately 45,109,622 shares traded hands during trading, an increase of 1% from the average daily volume of 44,514,180 shares. The stock had previously closed at $1,020.76.

Other equities analysts have also issued reports about the stock. Erste Group Bank lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a research report on Tuesday, May 12th. Mizuho boosted their price target on shares of Micron Technology to $800.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. Barclays boosted their price target on shares of Micron Technology from $450.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $500.00 price target on shares of Micron Technology in a research report on Monday, March 16th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $831.80.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction dated 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 directly owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 146,000 shares of company stock valued at $85,486,715. Insiders own 0.24% of the company's stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Deutsche Bank and Citigroup raised their price targets on Micron, citing tight supply, stronger memory pricing, and durable AI infrastructure demand. Benzinga analyst target update
• Positive Sentiment: Analysts expect Micron’s upcoming quarterly results to show higher earnings and revenue, with several previews arguing that guidance could be an important catalyst if management confirms continued strength in memory markets. Zacks earnings preview
• Positive Sentiment: Multiple pieces point to Micron benefiting from explosive AI memory demand, especially for HBM and DRAM, with some commentary suggesting the rally could still have room to run and that a stock split could eventually be considered after the shares crossed the $1,000 level. Motley Fool stock split article
• Neutral Sentiment: Some analysts and commentators are warning that Micron is now priced for very high expectations, with articles arguing the stock may be entering a “peak earnings power” phase and that future gains could depend on buybacks, capital returns, or a stock split rather than just earnings growth. Seeking Alpha downgrade article
• Negative Sentiment: There is also caution around Micron’s huge run-up and elevated valuation, with bearish notes pointing to cyclical risk and the possibility that sentiment could cool if memory pricing or AI demand normalizes. Seeking Alpha cycle risk article

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently modified their holdings of the stock. Signature Equity Partners LLC raised its stake in shares of Micron Technology by 6.3% during the first quarter. Signature Equity Partners LLC now owns 253 shares of the semiconductor manufacturer's stock worth $86,000 after buying an additional 15 shares during the last quarter. Clearwater Capital Advisors LLC raised its stake in shares of Micron Technology by 1.1% during the first quarter. Clearwater Capital Advisors LLC now owns 1,617 shares of the semiconductor manufacturer's stock worth $546,000 after buying an additional 18 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Micron Technology by 10.3% during the first quarter. Capital Advisors Ltd. LLC now owns 247 shares of the semiconductor manufacturer's stock worth $83,000 after buying an additional 23 shares during the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Micron Technology by 2.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer's stock worth $301,000 after buying an additional 24 shares during the last quarter. Finally, Essex Bank raised its stake in shares of Micron Technology by 2.0% during the first quarter. Essex Bank now owns 1,252 shares of the semiconductor manufacturer's stock worth $423,000 after buying an additional 24 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market capitalization of $1.18 trillion, a P/E ratio of 49.25 and a beta of 2.16. The stock's 50 day moving average is $705.11 and its two-hundred day moving average is $476.85.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping analysts' consensus estimates of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. Micron Technology's revenue for the quarter was up 196 compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 earnings per share. As a group, equities analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

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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