Micron Technology (NASDAQ:MU) Trading 4.8% Higher After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) rose 4.8% on Wednesday after Citigroup raised their price target on the stock from $425.00 to $840.00. Citigroup currently has a buy rating on the stock. Micron Technology traded as high as $735.68 and last traded at $731.99. Approximately 47,664,511 shares were traded during trading, an increase of 12% from the average daily volume of 42,652,492 shares. The stock had previously closed at $698.74.

Several other analysts also recently commented on MU. UBS Group raised their price objective on Micron Technology from $510.00 to $535.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Needham & Company LLC increased their price target on Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Micron Technology in a research report on Tuesday, May 12th. Cantor Fitzgerald lifted their price objective on Micron Technology from $450.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Finally, Barclays boosted their price objective on Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $518.47.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of the company’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 transaction, the director directly owned 17,139 shares of the company’s stock, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 106,000 shares of company stock worth $47,032,460. Company insiders own 0.24% of the company’s stock.

Micron Technology News Summary

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

• Positive Sentiment: Market commentary says the AI infrastructure trade is shifting from GPUs to memory and data storage, with Micron positioned as a key beneficiary of a structural supply shortage and a potential pricing supercycle. The Great AI Rotation: Cashing In on Data (MU)
• Positive Sentiment: Samsung memory workers are nearing a strike after talks broke down, which could further tighten memory supply and lift pricing power for Micron and peers. Micron’s stock gets a boost. Are Samsung’s problems helping?
• Positive Sentiment: Wall Street remains broadly bullish on Micron, with recent analyst price-target hikes and upbeat coverage reinforcing the view that earnings momentum can continue if AI-related demand stays strong. Is It Worth Investing in Micron (MU) Based on Wall Street’s Bullish Views?
• Positive Sentiment: High-profile investors such as Stanley Druckenmiller and David Tepper have been linked to Micron and other AI memory names, adding to the bullish sentiment around the stock. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead
• Neutral Sentiment: Micron’s conference appearance and various market recaps largely reinforce the same theme: the stock is being treated as a leading AI infrastructure name, but these items do not appear to add a new fundamental catalyst. Micron Technology, Inc. (MU) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Negative Sentiment: Earlier this week, Micron was pressured by valuation concerns and broader semiconductor volatility, showing that the rally can still face sharp pullbacks if investors worry the AI trade has run too far. Stock Market Today, May 18: Micron Falls as Memory Concerns Test AI Rally

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after acquiring an additional 976 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Micron Technology by 21.7% during the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after buying an additional 628 shares during the last quarter. United Bank acquired a new position in Micron Technology during the second quarter worth $236,000. Schnieders Capital Management LLC. raised its position in Micron Technology by 67.9% during the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after acquiring an additional 6,867 shares in the last quarter. Finally, Sei Investments Co. raised its position in Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after acquiring an additional 21,619 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Up 4.8%

The business’s 50 day simple moving average is $491.35 and its 200 day simple moving average is $378.29. The stock has a market cap of $825.49 billion, a price-to-earnings ratio of 34.56 and a beta of 1.91. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a $0.15 dividend. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

About Micron Technology

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.