Micron Technology (NASDAQ:MU) Trading Up 3.1% - What's Next?

Key Points

• Micron Technology's stock saw a 3.1% increase in trading on Thursday, reaching a last price of $121.46, although trading volume declined to approximately 7 million shares.
• Analysts have upgraded Micron Technology's stock rating, with price targets ranging from $135.00 to $200.00, reflecting a consensus rating of "Moderate Buy."
• The company reported earnings of $1.91 EPS, exceeding estimates, and announced a quarterly dividend of $0.115 per share, highlighting its ongoing commitment to returning capital to shareholders.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares were up 3.1% during trading on Thursday . The company traded as high as $122.09 and last traded at $121.46. Approximately 7,042,664 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 22,604,660 shares. The stock had previously closed at $117.75.

Analyst Upgrades and Downgrades

A number of analysts have commented on MU shares. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Morgan Stanley upped their price objective on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Barclays upped their price objective on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Micron Technology in a research note on Monday, August 11th. Finally, Robert W. Baird upped their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.

Micron Technology Price Performance

The firm has a market capitalization of $136.78 billion, a PE ratio of 22.05 and a beta of 1.37. The stock has a 50-day moving average price of $118.26 and a 200 day moving average price of $100.53. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

Micron Technology Announces Dividend

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

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. This trade represents a 9.19% 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, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president owned 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% 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. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. grew its holdings 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 worth $27,000 after purchasing an additional 153 shares during the period. Howard Hughes Medical Institute acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $30,000. AlphaQuest LLC increased 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 worth $33,000 after purchasing an additional 265 shares during the last quarter. WealthCollab LLC increased its position in shares of Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 270 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $37,000. 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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