Micron Technology (NASDAQ:MU) Sets New 12-Month High on Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price hit a new 52-week high during trading on Saturday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $131.41 and last traded at $131.37, with a volume of 28358729 shares traded. The stock had previously closed at $124.21.

A number of other research firms also recently commented on MU. Morgan Stanley lifted their target price on Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Wells Fargo & Company lifted their target price on Micron Technology from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, June 26th. KGI Securities cut Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. 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, Citigroup lifted their price objective on Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $147.54.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president directly owned 148,167 shares of the company’s stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the business’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president directly 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. Insiders sold a total of 264,884 shares of company stock worth $32,363,889 over the last three months. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the 4th quarter worth $26,000. First Command Advisory Services Inc. raised its position 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 acquiring an additional 153 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in Micron Technology during the second quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the first quarter valued at approximately $33,000. Finally, AlphaQuest LLC boosted its holdings in Micron Technology by 13,250.0% in the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 265 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

The stock has a fifty day moving average of $117.85 and a 200-day moving average of $101.70. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $147.02 billion, a price-to-earnings ratio of 23.67 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio is 8.29%.

About Micron Technology

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.