Micron Technology's (MU) Neutral Rating Reiterated at New Street Research

Key Points

• Micron Technology's stock has a "neutral" rating reissued by New Street Research, while other analysts have set varying price targets and ratings, indicating a consensus "Buy" rating for the stock with an average price target of $194.57.
• The company reported a quarterly net revenue of $11.32 billion, beating analyst estimates and achieving a year-over-year revenue increase of 46.1% alongside an EPS of $2.86.
• Insider trading activity included CEO Sanjay Mehrotra selling over 21,500 shares, reflecting a 7.33% decrease in his ownership, amidst significant institutional investment in the stock.

Micron Technology (NASDAQ:MU - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at New Street Research in a research report issued on Tuesday,Benzinga reports.

A number of other research analysts have also issued reports on MU. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Robert W. Baird increased their target price on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Bank of America increased their target price on Micron Technology from $140.00 to $180.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Wolfe Research raised their price objective on Micron Technology from $160.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Finally, Morgan Stanley upgraded Micron Technology from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $160.00 to $220.00 in a report on Monday, October 6th. Five research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $194.57.

Micron Technology Trading Up 6.2%

Micron Technology stock opened at $192.77 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology has a 12 month low of $61.54 and a 12 month high of $201.00. The stock's 50 day simple moving average is $144.50 and its two-hundred day simple moving average is $114.89. The firm has a market cap of $216.38 billion, a PE ratio of 25.40, a P/E/G ratio of 0.40 and a beta of 1.56.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS for the quarter, hitting the consensus estimate of $2.86. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. The business's quarterly 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. Analysts anticipate that Micron Technology will post 6.08 earnings per share for the current year.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 21,563 shares of the firm's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total value of $4,063,978.61. Following the completion of the sale, the chief executive officer directly owned 272,648 shares of the company's stock, valued at $51,385,968.56. This trade represents a 7.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the sale, the director directly owned 96,031 shares of the company's stock, valued at $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,956 shares of company stock valued at $22,841,025 in the last three months. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Micron Technology by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer's stock worth $12,803,168,000 after purchasing an additional 1,973,294 shares during the last quarter. State Street Corp boosted its holdings in Micron Technology by 2.7% during the 2nd quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer's stock valued at $6,331,795,000 after acquiring an additional 1,349,713 shares during the period. Geode Capital Management LLC boosted its holdings in Micron Technology by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer's stock valued at $3,152,974,000 after acquiring an additional 314,489 shares during the period. Norges Bank purchased a new position in Micron Technology during the 2nd quarter valued at about $1,980,700,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after acquiring an additional 2,038,641 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

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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