Micron Technology (NASDAQ:MU) Shares Up 11.9% – Time to Buy?

Micron Technology, Inc. (NASDAQ:MU) shares were up 11.9% during trading on Wednesday. The company traded as high as $827.58 and last traded at $811.30. 35,270,807 shares were traded during trading, a decline of 12% from the average session volume of 40,296,109 shares. The stock had previously closed at $725.11.

Key Stories Impacting Micron Technology

Here are a few of the latest stories about MU:

• Positive Sentiment: Reports of Micron participating in a $1 billion Anthropic placement add to its visibility alongside major AI customers, although the investment itself does not guarantee additional chip orders. Micron Stocks Jump as Memory Rebound Meets Anthropic Placement
• Neutral Sentiment: Analyst views are divided: Goldman Sachs reiterated a $1,250 price target, while Bank of America removed Micron from its top-picks list but retained a Buy rating. Goldman and Bank of America Differ on Micron
• Negative Sentiment: Risks remain that memory is a cyclical business and that local opposition or political headwinds could slow data-center construction, weakening future AI-related demand. Micron’s recent steep decline reflects investor concern about how long current growth and pricing strength can last. Micron’s AI Growth and Cyclical Risks

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Seaport Research Partners restated a “buy” rating on shares of Micron Technology in a research note on Friday, August 14th. The Goldman Sachs Group set a $1,250.00 price objective on Micron Technology in a research report on Thursday, October 1st. Raymond James Financial reissued an “outperform” rating on shares of Micron Technology in a report on Thursday, October 1st. DA Davidson boosted their price objective on Micron Technology from $2,100.00 to $3,000.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Micron Technology in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,407.88.

Micron Technology Stock Up 11.9%

The company has a market capitalization of $917.92 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 0.13 and a beta of 2.36. The business has a fifty day simple moving average of $952.93 and a two-hundred day simple moving average of $758.35. The company has a quick ratio of 2.94, a current ratio of 3.31 and a debt-to-equity ratio of 0.03.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 EPS for the quarter, topping the consensus estimate of $31.77 by $1.65. The business had revenue of $54.23 billion during the quarter, compared to the consensus estimate of $51.33 billion. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. Micron Technology’s revenue was up 379.1% on a year-over-year basis. During the same quarter last year, the company earned $3.03 EPS. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Equities analysts expect that Micron Technology, Inc. will post 175.22 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is presently 0.81%.

Insider Activity

In other news, insider Scott Deboer sold 28,545 shares of the company’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $900.00, for a total value of $25,690,500.00. Following the sale, the insider owned 147,430 shares of the company’s stock, valued at approximately $132,687,000. This represents a 16.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the sale, the chief executive officer owned 264,503 shares of the company’s stock, valued at $256,276,956.70. This trade represents a 13.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 83,545 shares of company stock worth $78,460,850. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Andar Capital Management HK Ltd increased its holdings in Micron Technology by 856,960.3% during the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock valued at $39,571,847,000 after purchasing an additional 34,278,413 shares in the last quarter. Primecap Management Co. CA acquired a new position in Micron Technology in the second quarter worth $22,182,263,000. Bank of America Corp DE boosted its stake in Micron Technology by 26.6% in the second quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer’s stock worth $11,744,621,000 after purchasing an additional 2,136,470 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Micron Technology during the second quarter worth $8,402,393,000. Finally, Aberdeen Group plc grew its holdings in shares of Micron Technology by 762.2% during the third quarter. Aberdeen Group plc now owns 7,084,241 shares of the semiconductor manufacturer’s stock worth $7,545,496,000 after purchasing an additional 6,262,603 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Company Profile

Micron Technology is a semiconductor company that designs and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, and other memory solutions used in computing and electronic devices. Micron’s products serve a range of markets, including data centers, personal computers, smartphones, automotive systems, and industrial applications. The company sells its products and solutions to customers around the world.