Micron Technology (NASDAQ:MU) Reaches New 12-Month High Following Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s stock price reached a new 52-week high during trading on Friday after Citigroup raised their price target on the stock from $150.00 to $175.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $156.26 and last traded at $150.57, with a volume of 52376371 shares. The stock had previously closed at $140.00.

Other equities research analysts also recently issued research reports about the company. KGI Securities downgraded Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 23rd. Erste Group Bank assumed coverage on shares of Micron Technology in a research report on Thursday, August 14th. They set a “buy” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Micron Technology in a research report on Thursday, July 10th. They set a “neutral” rating and a $130.00 target price on the stock. Morgan Stanley boosted their price target on shares of Micron Technology from $98.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Finally, Barclays lifted their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average price target of $151.76.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company’s stock, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,500 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $140.58, for a total transaction of $1,054,350.00. Following the completion of the sale, the chief executive officer directly owned 355,148 shares in the company, valued at approximately $49,926,705.84. The trade was a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,946 shares of company stock valued at $33,962,819. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mission Wealth Management LP increased its stake in shares of Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock worth $1,360,000 after buying an additional 10,348 shares during the period. Centre Asset Management LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at $7,720,000. Czech National Bank boosted its stake in Micron Technology by 6.4% in the 1st quarter. Czech National Bank now owns 255,908 shares of the semiconductor manufacturer’s stock worth $22,236,000 after purchasing an additional 15,485 shares in the last quarter. TB Alternative Assets Ltd. boosted its stake in Micron Technology by 331.3% in the 1st quarter. TB Alternative Assets Ltd. now owns 79,788 shares of the semiconductor manufacturer’s stock worth $6,933,000 after purchasing an additional 61,288 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new position in Micron Technology in the 1st quarter valued at approximately $228,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The firm has a market capitalization of $175.96 billion, a P/E ratio of 28.33 and a beta of 1.47. The firm has a 50-day moving average of $119.94 and a 200-day moving average of $103.21.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same quarter in the prior year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) 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.