Zacks Research Upgrades Micron Technology (NASDAQ:MU) to Strong-Buy

Key Points

• Zacks Research has upgraded Micron Technology (NASDAQ: MU) from a "hold" rating to a "strong-buy" rating, indicating a positive outlook on the stock for investors.
• Micron Technology reported earnings of $1.91 per share in its latest quarterly results, surpassing analysts' expectations of $1.57 and reflecting strong performance with revenues of $9.30 billion.
• Multiple analysts have increased their target prices for Micron stock, with Wedbush and Piper Sandler raising their targets to $165.00, suggesting confidence in the stock's future growth.

Micron Technology (NASDAQ:MU - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Wedbush increased their target price on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 price objective on the stock. Piper Sandler lifted their price target on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Micron Technology in a research note on Monday, August 11th. Finally, Bank of America raised their price target on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.24.

Micron Technology Stock Performance

Shares of MU stock opened at $117.21 on Tuesday. The stock has a market cap of $131.17 billion, a PE ratio of 21.12 and a beta of 1.37. Micron Technology has a 1 year low of $61.54 and a 1 year high of $129.85. The stock has a fifty day moving average price of $118.45 and a 200 day moving average price of $99.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the previous year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts forecast that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Activity at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MU. Duquesne Family Office LLC bought a new stake in shares of Micron Technology in the fourth quarter worth about $34,412,000. Janus Henderson Group PLC lifted its position in Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after buying an additional 1,130,680 shares in the last quarter. Mission Wealth Management LP boosted its position in Micron Technology by 195.2% during the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock valued at $1,360,000 after purchasing an additional 10,348 shares during the last quarter. Centre Asset Management LLC acquired a new stake in shares of Micron Technology in the 1st quarter valued at approximately $7,720,000. Finally, ProShare Advisors LLC grew its position in shares of Micron Technology by 16.9% in the 4th quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock valued at $138,945,000 after acquiring an additional 238,687 shares during the period. Institutional investors and hedge funds 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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