Micron Technology (NASDAQ:MU) Trading 8.7% Higher Following Analyst Upgrade

Key Points

• Micron Technology shares rose 8.7% after Wedbush sharply increased its price target on the stock from $500 to $1,300 and reiterated an outperform rating.
• Broader analyst sentiment remains very bullish, with multiple firms recently lifting targets and MarketBeat showing a consensus Buy rating and average price target of $913.47.
• Investor focus is centered on AI-driven memory demand and Micron’s upcoming earnings, though some commentary warns the stock could be vulnerable to profit-taking if expectations get too high.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price traded up 8.7% during mid-day trading on Thursday after Wedbush raised their price target on the stock from $500.00 to $1,300.00. Wedbush currently has an outperform rating on the stock. Micron Technology traded as high as $1,149.43 and last traded at $1,133.99. 63,440,711 shares traded hands during trading, an increase of 42% from the average daily volume of 44,673,184 shares. The stock had previously closed at $1,043.19.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their price objective on Micron Technology from $550.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Susquehanna boosted their price objective on shares of Micron Technology from $600.00 to $1,750.00 and gave the company a "positive" rating in a research report on Friday, May 29th. Erste Group Bank lowered shares of Micron Technology from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Finally, Wolfe Research increased their price target on Micron Technology from $550.00 to $1,250.00 and gave the stock an "outperform" rating in a research note on Thursday, June 11th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $913.47.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer directly owned 424,503 shares of the company's stock, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred 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 directly owned 224,021 shares of the company's stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is owned by company insiders.

More Micron Technology News

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

• Positive Sentiment: Wedbush boosted its price target on Micron to $1,300 from $500 and reiterated an outperform rating, reflecting confidence in more upside from AI memory demand and improved fundamentals. Benzinga report on Wedbush target hike
• Positive Sentiment: Deutsche Bank and Stifel both raised their price targets to $1,500, adding to the wave of bullish analyst revisions that helped fuel the stock’s latest move higher. Micron Technology (MU) Price Target Lifted by $675 at RBC Capital. Here is Why
• Positive Sentiment: Apple’s warning that price hikes may be “unavoidable” because of rising chip costs is being seen as another positive signal for Micron, reinforcing expectations that memory suppliers can pass through higher prices. Why Apple Price Hikes Are Sending Micron Stock Toward a Record High
• Positive Sentiment: Analysts continue to frame Micron as a top AI beneficiary, with commentary pointing to HBM demand, Nvidia-related supply wins, and strong earnings momentum ahead of results. Micron's AI Run Gets Another Boost
• Neutral Sentiment: Several articles focused on Micron’s upcoming earnings release and elevated Wall Street expectations, suggesting the report could be a major catalyst but also a risk point if results disappoint. Micron (MU) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Negative Sentiment: A minority of coverage cautioned that Micron’s massive run may be leaving the stock vulnerable to profit-taking if expectations become too stretched heading into earnings. Micron: Peak Earnings Power Meets The Cycle Clock (Rating Downgrade)

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. PVG Asset Management Corp acquired a new position in Micron Technology in the 1st quarter worth $983,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Micron Technology during the first quarter worth about $7,639,000. Militia Capital Management LLC acquired a new position in shares of Micron Technology in the first quarter worth about $652,000. FAS Wealth Partners Inc. purchased a new position in Micron Technology in the first quarter valued at about $336,000. Finally, Rathbones Group PLC grew its stake in Micron Technology by 31.4% during the 1st quarter. Rathbones Group PLC now owns 27,152 shares of the semiconductor manufacturer's stock valued at $9,173,000 after purchasing an additional 6,487 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 8.7%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a fifty day simple moving average of $718.42 and a 200-day simple moving average of $482.57. The company has a market capitalization of $1.28 trillion, a PE ratio of 53.54 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion during 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 business's revenue was up 196 on a year-over-year basis. During the same period in the prior year, the business posted $1.56 EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

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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