Micron Technology (NASDAQ:MU) Stock Price Up 5.1% on Analyst Upgrade

Key Points

• Micron Technology shares rose 5.1% after Susquehanna sharply raised its price target to $1,750 from $600 and kept a positive rating. The stock traded as high as $981.00 on heavier-than-average volume.
• Analyst sentiment remains broadly bullish, with multiple firms lifting targets and rating the stock a buy or better. MarketBeat data shows a consensus Buy rating and an average target price of $595.63.
• The company’s recent fundamentals have been strong, including a quarterly EPS beat and revenue that far exceeded expectations. Micron also raised its dividend, while insiders have sold shares in recent months.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price traded up 5.1% on Friday after Susquehanna raised their price target on the stock from $600.00 to $1,750.00. Susquehanna currently has a positive rating on the stock. Micron Technology traded as high as $981.00 and last traded at $970.4680. 58,816,986 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 43,442,621 shares. The stock had previously closed at $923.52.

MU has been the topic of several other reports. Wedbush increased their price target on shares of Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Mizuho upped their target price on shares of Micron Technology to $800.00 and gave the company an "outperform" rating in a report on Tuesday, May 19th. Stifel Nicolaus upped their target price on shares of Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Bank of America lifted their price target on shares of Micron Technology from $400.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Finally, Phillip Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Monday, February 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $595.63.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 106,000 shares of company stock worth $47,032,460 in the last 90 days. Company insiders own 0.24% of the company's stock.

Micron Technology News Summary

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

• Positive Sentiment: Susquehanna резко raised its price target on Micron to $1,750 from $600 and kept a positive stance, reinforcing the view that AI memory demand can support substantially more upside. Micron price target hike
• Positive Sentiment: UBS also boosted its target to $1,625 from $535, while other analysts pointed to record margins and strong pricing in DRAM, NAND, and HBM as proof that the AI memory boom is still gaining momentum. Analyst optimism on Micron
• Positive Sentiment: Several articles highlighted Micron’s recent financial strength, including revenue growth of 56.6% year over year and a cloud memory business that nearly doubled, which supports the thesis that the company is becoming an essential AI infrastructure supplier. Micron five-year outlook
• Positive Sentiment: Hedge-fund filings and media coverage showed prominent investors and commentators adding to or praising Micron positions, including David Tepper, Ray Dalio, and Jim Cramer’s “trillion-dollar club” comments, which adds to bullish sentiment. Hedge fund buying
• Neutral Sentiment: Micron is also drawing attention to a possible stock split after its huge run and $1 trillion-plus valuation, but that would mainly affect trading psychology rather than fundamentals. Stock split speculation
• Negative Sentiment: Some coverage warned that Micron now faces tougher competition from Samsung and SK Hynix, and one Seeking Alpha piece argued the stock could be vulnerable to a “trillion-dollar trap” if HBM4E cannibalization or a depreciation cliff hits results later. Bearish Micron article

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently modified their holdings of the stock. Cozad Asset Management Inc. increased its stake in Micron Technology by 1,285.7% in the 1st quarter. Cozad Asset Management Inc. now owns 41,600 shares of the semiconductor manufacturer's stock valued at $14,054,000 after buying an additional 38,598 shares during the period. Blue Fin Capital Inc. raised its position in Micron Technology by 2.1% during the 1st quarter. Blue Fin Capital Inc. now owns 3,576 shares of the semiconductor manufacturer's stock worth $1,208,000 after buying an additional 72 shares during the last quarter. Challenger Wealth Management lifted its stake in shares of Micron Technology by 5.9% in the 1st quarter. Challenger Wealth Management now owns 759 shares of the semiconductor manufacturer's stock worth $256,000 after acquiring an additional 42 shares during the period. Allen Capital Group LLC lifted its stake in shares of Micron Technology by 8.5% in the 1st quarter. Allen Capital Group LLC now owns 4,504 shares of the semiconductor manufacturer's stock worth $1,522,000 after acquiring an additional 351 shares during the period. Finally, Axiom Investment Management LLC purchased a new stake in shares of Micron Technology in the first quarter valued at about $2,387,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 5.1%

The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The company's fifty day moving average price is $547.31 and its two-hundred day moving average price is $407.37. The firm has a market cap of $1.09 trillion, a PE ratio of 45.82 and a beta of 1.91.

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 (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. During the same period in the prior year, the company posted $1.56 earnings per share. The firm's revenue for the quarter was up 196 on a year-over-year basis. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 57.82 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's payout ratio is 2.83%.

About Micron Technology

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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