Micron Technology (NASDAQ:MU) Trading Up 9.9% After Analyst Upgrade

Key Points

• Micron Technology shares jumped 9.9% after Wells Fargo raised its price target sharply from $550 to $1,220 and reiterated an overweight rating. The stock traded as high as $962.95 on heavier-than-normal volume.
• Analysts remain broadly bullish on Micron, with several firms lifting targets recently and the consensus rating still sitting at Buy. MarketBeat data shows an average target price of $690.97, though some newer targets are far above that level.
• Micron is also being supported by strong AI and memory-chip demand, with news of a broader rebound in semiconductor stocks and comments that the memory shortage could last for years. The company has also posted strong earnings and recently increased its quarterly dividend.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price rose 9.9% on Monday after Wells Fargo & Company raised their price target on the stock from $550.00 to $1,220.00. Wells Fargo & Company currently has an overweight rating on the stock. Micron Technology traded as high as $962.95 and last traded at $949.28. Approximately 53,337,884 shares were traded during trading, an increase of 21% from the average daily volume of 44,013,648 shares. The stock had previously closed at $864.01.

MU has been the subject of a number of other research reports. Sanford C. Bernstein boosted their target price on Micron Technology from $330.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 18th. Wedbush boosted their target price on Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a research report on Tuesday, May 12th. Finally, The Goldman Sachs Group boosted their target price on Micron Technology from $360.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, March 19th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $690.97.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of the 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company's stock.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Wells Fargo and Cantor Fitzgerald both raised their price targets sharply on Micron, with Cantor lifting its target to $1,500 and Wells Fargo to $1,220, while maintaining bullish ratings. These moves reinforce the view that analysts see more upside ahead for Micron as memory pricing and AI-related demand stay hot.
• Positive Sentiment: Micron is benefiting from a broader rebound in semiconductor and memory stocks after Friday’s sector-wide selloff. Articles cited a “memory-stock snap-back” and noted that investors are rotating back into chip names as the AI trade stabilizes.
• Positive Sentiment: News that Nvidia struck a fresh memory-related deal with SK Hynix and comments from Nvidia CEO Jensen Huang that the memory shortage could last for years are adding to optimism across the memory complex, supporting Micron’s rally.
• Neutral Sentiment: Market headlines also point to Micron remaining a core beneficiary of the AI infrastructure buildout, with some commentators saying the AI memory trade is only in the “mid-innings.”
• Negative Sentiment: Despite the rebound, some articles warn that Micron’s huge year-to-date run has increased valuation risk and that the stock could remain volatile if broader tech sentiment weakens or if investors worry the AI boom is overheating.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. Norges Bank bought a new stake in Micron Technology in the fourth quarter valued at approximately $6,433,456,000. AQR Capital Management LLC raised its stake in Micron Technology by 411.9% in the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer's stock valued at $606,873,000 after buying an additional 2,918,535 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Micron Technology by 1,340.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer's stock worth $805,148,000 after purchasing an additional 2,625,169 shares during the period. Amundi increased its stake in shares of Micron Technology by 65.0% during the fourth quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer's stock worth $1,424,025,000 after purchasing an additional 1,965,319 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

The company has a market cap of $1.07 trillion, a P/E ratio of 44.82 and a beta of 2.15. 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 stock has a 50 day moving average price of $617.28 and a two-hundred day moving average price of $439.38.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.19 by $3.01. The business had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The firm's quarterly revenue was up 196 compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 earnings per share. On average, research analysts predict that Micron Technology, Inc. will post 58.79 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.1%. This is a boost from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio (DPR) is 2.83%.

Micron Technology Company Profile

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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