Micron Technology (NASDAQ:MU) Given New $1,150.00 Price Target at Citigroup

Micron Technology (NASDAQ:MU) had its target price lowered by Citigroup from $1,400.00 to $1,150.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price target points to a potential upside of 30.65% from the stock’s current price.

MU has been the subject of a number of other research reports. DA Davidson raised their target price on Micron Technology from $1,500.00 to $2,000.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Needham & Company LLC upped their price target on Micron Technology from $1,550.00 to $1,650.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Erste Group Bank upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Sanford C. Bernstein set a $1,300.00 price objective on Micron Technology in a research report on Monday, June 22nd. Finally, Wedbush boosted their target price on shares of Micron Technology from $1,300.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $1,260.31.

Micron Technology Trading Down 0.1%

Shares of NASDAQ MU traded down $1.28 during midday trading on Friday, hitting $880.19. 29,411,626 shares of the company traded hands, compared to its average volume of 45,758,117. Micron Technology has a 12-month low of $111.67 and a 12-month high of $1,255.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. The stock has a 50-day moving average price of $976.89 and a 200 day moving average price of $657.02. The firm has a market cap of $994.07 billion, a P/E ratio of 19.79 and a beta of 2.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, topping the consensus estimate of $21.39 by $3.72. The business had revenue of $41.46 billion during the quarter, compared to analyst estimates of $35.91 billion. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. Micron Technology’s quarterly revenue was up 345.8% compared to the same quarter last year. During the same period last year, the business posted $1.91 earnings per share. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, analysts expect that Micron Technology will post 72.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the completion of the transaction, the executive vice president owned 85,737 shares of the company’s stock, valued at $92,933,763.78. The trade was a 31.81% 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, CAO Scott R. Allen sold 879 shares of Micron Technology stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $1,000.00, for a total value of $879,000.00. Following the completion of the transaction, the chief accounting officer directly owned 34,958 shares of the company’s stock, valued at approximately $34,958,000. This represents a 2.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 164,179 shares of company stock valued at $169,385,921. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Pallas Capital Advisors LLC raised its holdings in Micron Technology by 12.5% in the second quarter. Pallas Capital Advisors LLC now owns 9,634 shares of the semiconductor manufacturer’s stock worth $11,120,000 after buying an additional 1,068 shares during the last quarter. Performance Wealth Partners LLC increased its position in shares of Micron Technology by 225.3% during the second quarter. Performance Wealth Partners LLC now owns 2,632 shares of the semiconductor manufacturer’s stock valued at $3,038,000 after acquiring an additional 1,823 shares in the last quarter. Deutsche Bank AG raised its holdings in Micron Technology by 2.7% in the 2nd quarter. Deutsche Bank AG now owns 4,794,836 shares of the semiconductor manufacturer’s stock worth $5,534,631,000 after acquiring an additional 123,919 shares during the last quarter. Covestor Ltd raised its holdings in Micron Technology by 142.8% in the 2nd quarter. Covestor Ltd now owns 879 shares of the semiconductor manufacturer’s stock worth $1,016,000 after acquiring an additional 517 shares during the last quarter. Finally, Pursue Wealth Partners LLC bought a new position in Micron Technology in the 2nd quarter valued at approximately $458,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology News Summary

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

• Positive Sentiment: Micron’s recently reported quarter was exceptionally strong, with revenue of $41.46 billion, non-GAAP EPS of $25.11, and gross margin of 84.9%. The company also provided robust fourth-quarter guidance of approximately $50 billion in revenue and about $31 in non-GAAP EPS.
• Positive Sentiment: Investors are encouraged by 16 strategic customer agreements extending through 2030. Several reportedly include minimum prices, price bands, or other protections that could make Micron’s revenue and margins less vulnerable to the usual memory-chip cycle. Micron’s 16 Contracts Reveal the Next AI Bottleneck
• Positive Sentiment: AI data-center demand continues to support high-bandwidth memory (HBM), with hyperscalers seeking to secure future supply. Analysts and financial publications continue to identify MU as a beneficiary of the semiconductor and AI infrastructure buildout. Semiconductor Sales Continue to Grow on AI Optimism
• Neutral Sentiment: Broader market sentiment is mixed. Oil-price concerns interrupted a recent market rally, while debate continues over whether AI-related semiconductor valuations have risen too far.
• Negative Sentiment: SK Hynix approved approximately $38 billion for two new memory fabs in South Korea. The spending has raised concerns that industry capacity will catch up with demand, potentially pressuring memory prices and Micron’s future margins. SK Hynix Reveals $38 Billion Factory Plan
• Negative Sentiment: Citi has reportedly adopted a more cautious view of memory pricing, reinforcing fears that the current earnings surge may be cyclical. Nvidia’s reported testing of lower-HBM versions of future Rubin Ultra GPUs also raises concern that some customers may seek to reduce memory intensity, although the impact remains uncertain. Why is Micron stock falling today?

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.