Micron Technology (NASDAQ:MU) Stock Price Up 3.6% - Time to Buy?

Key Points

• Micron Technology's stock experienced a notable increase of 3.6% on Friday, reaching a last traded price of $119.93, despite a 72% drop in trading volume compared to its average.
• Analysts have expressed positive outlooks on Micron, with several firms raising their price targets significantly, including Morgan Stanley's increase from $98.00 to $135.00, contributing to a consensus price target of $147.24.
• The company reported earnings of $1.91 per share for its latest quarter, surpassing estimates, along with a revenue of $9.30 billion compared to analyst predictions of $8.83 billion.

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) were up 3.6% during trading on Friday . The company traded as high as $120.70 and last traded at $119.93. Approximately 6,453,851 shares were traded during trading, a decline of 72% from the average daily volume of 22,832,813 shares. The stock had previously closed at $115.79.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MU shares. Arete Research raised Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Morgan Stanley lifted their price target on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Needham & Company LLC reissued a "buy" rating and set a $150.00 price target on shares of Micron Technology in a research note on Monday, August 11th. UBS Group lifted their price target on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. lifted their price target on Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $147.24.

Micron Technology Stock Performance

The firm has a market capitalization of $131.70 billion, a P/E ratio of 21.20 and a beta of 1.37. The stock has a fifty day simple moving average of $118.44 and a two-hundred day simple moving average of $99.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same period in the previous year, the company posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's payout ratio is currently 8.29%.

Insider Activity

In related news, EVP Sumit Sadana sold 92,638 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. This trade represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. Corporate insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at $26,000. First Command Advisory Services Inc. lifted its position in shares of Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 153 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in shares of Micron Technology during the 2nd quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the 1st quarter valued at $33,000. Finally, AlphaQuest LLC lifted its position in shares of Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer's stock valued at $33,000 after buying an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Company Profile

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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