Wedbush Forecasts Strong Price Appreciation for Micron Technology (NASDAQ:MU) Stock

Key Points

• Wedbush sharply raised its price target on Micron Technology from $500 to $1,300 and kept an outperform rating, implying about 24.6% upside from the previous close.
• Other analysts also turned more bullish, with Citigroup, Mizuho, Melius Research, KeyCorp, and Rosenblatt lifting targets; overall, Micron now has a consensus Buy rating and an average price target of $913.47.
• Micron’s latest earnings beat expectations by a wide margin, reporting $12.20 EPS and $23.86 billion in revenue, while the stock has also seen heavy institutional ownership and recent insider selling.

Micron Technology (NASDAQ:MU - Get Free Report) had its price target lifted by stock analysts at Wedbush from $500.00 to $1,300.00 in a research report issued to clients and investors on Thursday. The firm currently has an "outperform" rating on the semiconductor manufacturer's stock. Wedbush's price target suggests a potential upside of 24.62% from the company's previous close.

Several other equities research analysts have also recently weighed in on the stock. Citigroup upped their price target on shares of Micron Technology from $840.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho lifted their price objective on shares of Micron Technology to $800.00 and gave the company an "outperform" rating in a report on Tuesday, May 19th. Melius Research assumed coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a "buy" rating and a $700.00 price objective for the company. KeyCorp upped their target price on Micron Technology from $450.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Finally, Rosenblatt Securities set a $1,200.00 target price on Micron Technology in a research report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $913.47.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $1,043.19 on Thursday. The firm's 50 day simple moving average is $718.42 and its 200-day simple moving average is $482.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology has a one year low of $103.38 and a one year high of $1,110.40. The firm has a market cap of $1.18 trillion, a PE ratio of 49.25 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The firm had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. Micron Technology's quarterly revenue was up 196 on a year-over-year basis. As a group, equities analysts predict that Micron Technology will post 59.23 EPS for the current year.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 37,439 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $960.38, for a total value of $35,955,666.82. Following the completion of the sale, the chief executive officer directly owned 387,064 shares in the company, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 146,000 shares of company stock worth $85,486,715 over the last quarter. Company insiders own 0.24% of the company's stock.

Institutional Trading of Micron Technology

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

Micron Technology News Roundup

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

• Positive Sentiment: Apple CEO Tim Cook said iPhone price hikes may be unavoidable, reinforcing optimism across the semiconductor supply chain and helping memory-chip names like Micron rally. Micron Stock Surges Toward Record High. Thank Apple.
• Positive Sentiment: Several Wall Street firms raised Micron’s price target sharply, including Deutsche Bank, RBC Capital, and Citi, citing persistent memory shortages, stronger pricing, and sustained AI infrastructure demand. Analyst price target updates
• Positive Sentiment: Investors remain bullish ahead of Micron’s fiscal third-quarter earnings on June 24, with articles highlighting expected earnings growth, improving DRAM/NAND estimates, and the possibility of another upside surprise. Micron (MU) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Positive Sentiment: Commentary continues to emphasize AI demand for high-bandwidth memory (HBM) and strategic customer agreements, which support Micron’s pricing power and earnings visibility. Micron Technology: Agentic AI And Strategic Customer Agreements Make The Bull Case Compelling
• Neutral Sentiment: Some pieces focus on valuation, stock-split speculation, and whether the rally can continue after an enormous run, suggesting investor attention is shifting from “can it rise?” to “how much upside is left?” Will Micron Split Its Stock This Year?
• Negative Sentiment: A minority of coverage warns that Micron’s earnings power may be nearing a cycle peak, and at least one note recommends taking profits after the stock’s huge run. Micron: Peak Earnings Power Meets The Cycle Clock (Rating Downgrade)

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.