Micron Technology (NASDAQ:MU) Trading Down 5.6% - Here's Why

Key Points

• Micron Technology's shares fell by 5.6%, trading between $179.61 and $181.60, following a previous close of $192.33.
• Analysts show optimism with a consensus target price of $191.78, while several firms upgraded their ratings and price targets for Micron Technology's stock.
• The company reported $11.32 billion in revenue and $2.86 earnings per share for its latest quarter, exceeding expectations and showcasing a 46.1% increase compared to the previous year.

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) traded down 5.6% on Friday . The company traded as low as $179.61 and last traded at $181.60. 26,228,258 shares were traded during mid-day trading, an increase of 12% from the average session volume of 23,427,586 shares. The stock had previously closed at $192.33.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. Erste Group Bank began coverage on Micron Technology in a report on Thursday, August 14th. They set a "buy" rating on the stock. KGI Securities raised Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 24th. Cantor Fitzgerald lifted their price objective on Micron Technology from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. Itau BBA Securities began coverage on Micron Technology in a report on Tuesday. They set an "outperform" rating and a $249.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $191.78.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The firm has a market cap of $203.84 billion, a P/E ratio of 23.93, a P/E/G ratio of 0.43 and a beta of 1.56. The business's 50-day simple moving average is $141.26 and its 200 day simple moving average is $113.25.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, hitting the consensus estimate of $2.86. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $11.32 billion for the quarter, compared to analysts' expectations of $11.05 billion. During the same quarter last year, the company posted $1.18 EPS. The company's revenue was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid 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 of this dividend is Friday, October 3rd. Micron Technology's payout ratio is currently 6.06%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the completion of the sale, the executive vice president owned 131,580 shares of the company's stock, valued at $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the transaction, the director owned 96,031 shares in the company, valued at $14,950,106.08. The trade was a 5.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,956 shares of company stock valued at $22,841,025. Company insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Command Advisory Services Inc. lifted its stake in shares of 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 acquiring an additional 153 shares during the period. Howard Hughes Medical Institute purchased a new position in Micron Technology during the 2nd quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the 1st quarter valued at about $33,000. AlphaQuest LLC increased its holdings in 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 acquiring an additional 265 shares in the last quarter. Finally, WealthCollab LLC increased its holdings in Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

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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