Micron Technology (NASDAQ:MU) Stock Price Down 7.7% – What’s Next?

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down 7.7% during mid-day trading on Thursday . The company traded as low as $971.68 and last traded at $996.00. 53,430,820 shares were traded during trading, an increase of 23% from the average session volume of 43,594,883 shares. The stock had previously closed at $1,079.57.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Micron continues to benefit from powerful AI and high-performance computing demand, with multiple recent articles highlighting tight memory supply, strong pricing, and long-term AI memory contracts that could support earnings visibility. Micron Locks In Long Term AI Memory Deals As Valuation Stretches
• Positive Sentiment: Wall Street sentiment remains upbeat, with Morgan Stanley lifting its price target to $1,050 and UBS reportedly even more bullish, reinforcing the view that Micron can keep benefiting from the AI memory cycle. Micron Technology (MU) Is One Of The Best AI Infrastructure Stocks, According To Hedge Funds
• Positive Sentiment: Several recent market pieces point to Micron as a major AI infrastructure winner, with hedge-fund interest, bullish analyst upgrades, and growing investor enthusiasm around memory-chip scarcity all supporting the stock. Micron Stock Soars 271% YTD: Is the Memory Chip Maker Still a Buy?
• Neutral Sentiment: Congressional and insider trading updates showed a mix of small purchases from lawmakers and continued heavy executive selling, which investors may interpret as a mixed but not decisive signal. Hedge Fund and Insider Trading News: Bill Ackman, Ray Dalio, Warren Buffett, Schonfeld Strategic Advisors, Voss Capital, ExodusPoint Capital, Micron Technology Inc (MU), Dell Technologies Inc (DELL), and More
• Negative Sentiment: Semiconductor shares are under pressure after Broadcom’s softer AI outlook sparked a sector-wide selloff, and Micron is moving lower in sympathy despite no direct negative news on the company. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Some analysts are warning that memory-chip pricing may be nearing a peak, creating concern that the current rally could be getting stretched after Micron’s huge run-up. Micron Stock Drops, Brace for the Memory-Price Peak

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 target price on shares of Micron Technology in a research note on Monday, March 16th. Bank of America upped their price target on shares of Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Mizuho raised their price target on shares of Micron Technology to $800.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Citigroup lifted their price objective on shares of Micron Technology from $425.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $641.97.

Micron Technology Price Performance

The firm has a fifty day moving average of $595.64 and a two-hundred day moving average of $429.72. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 47.03 and a beta of 2.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. During the same period in the prior year, the business earned $1.56 EPS. The firm’s quarterly revenue was up 196 on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post 58.62 EPS for the current year.

Micron Technology Increases Dividend

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

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 37,439 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $960.38, for a total value of $35,955,666.82. Following the completion of the transaction, the chief executive officer directly owned 387,064 shares in the company, valued at approximately $371,728,524.32. The trade was a 8.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This trade represents a 9.68% 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 in the last three months. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently added to or reduced their stakes in MU. Norges Bank purchased a new position in shares of Micron Technology in the fourth quarter worth $6,433,456,000. AQR Capital Management LLC raised its stake in 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 worth $606,873,000 after acquiring an additional 2,918,535 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Micron Technology by 1,340.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock worth $805,148,000 after acquiring an additional 2,625,169 shares during the period. Amundi grew its stake in Micron Technology by 65.0% during the 4th quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock valued at $1,424,025,000 after purchasing an additional 1,965,319 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake 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 valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.