Micron Technology (NASDAQ:MU) Trading 1.3% Higher - Still a Buy?

Key Points

• Micron Technology saw a 1.3% increase in stock price, trading at $133.23 after trading range of $133.30, with a significantly reduced trading volume of 4,981,060 shares.
• Several analysts have upgraded Micron's target prices, with estimates ranging from $140.00 to $170.00, indicating a strong bullish sentiment towards the company's performance.
• The company reported better-than-expected quarterly earnings with an EPS of $1.91, surpassing analyst forecasts and setting a positive outlook for future performance.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) traded up 1.3% on Tuesday . The company traded as high as $133.30 and last traded at $133.23. 4,981,060 shares traded hands during trading, a decline of 78% from the average session volume of 22,423,023 shares. The stock had previously closed at $131.46.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Barclays lifted their target price on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. CLSA initiated coverage on Micron Technology in a report on Wednesday, August 27th. They set an "outperform" rating and a $155.00 target price on the stock. Wells Fargo & Company lifted their target price on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Raymond James Financial lifted their target price on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $147.54.

Micron Technology Trading Up 3.0%

The company has a fifty day simple moving average of $118.01 and a 200-day simple moving average of $101.90. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock has a market cap of $151.58 billion, a price-to-earnings ratio of 24.38 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates 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 earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared 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. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, July 7th. Micron Technology's payout ratio is currently 8.29%.

Insider Buying and Selling at Micron Technology

In other news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction dated 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 directly owned 201,326 shares in the company, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,946 shares of company stock worth $31,927,244 over the last quarter. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the 4th quarter worth approximately $26,000. First Command Advisory Services Inc. increased its position in Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock worth $27,000 after buying an additional 153 shares during the period. Howard Hughes Medical Institute bought a new position in Micron Technology in the 2nd quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new position in Micron Technology in the 1st quarter worth approximately $33,000. Finally, AlphaQuest LLC increased its position in Micron Technology by 13,250.0% in the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer's stock worth $33,000 after buying an additional 265 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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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