Micron Technology (NASDAQ:MU) Sets New 12-Month High – What’s Next?

Micron Technology, Inc. (NASDAQ:MU)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $257.07 and last traded at $253.30, with a volume of 27797195 shares traded. The stock had previously closed at $237.92.

Analyst Ratings Changes

Several research analysts recently commented on MU shares. Mizuho raised their target price on Micron Technology from $240.00 to $265.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $145.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Cantor Fitzgerald upped their target price on shares of Micron Technology from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Bank of America increased their price target on shares of Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, KeyCorp lifted their price objective on Micron Technology from $160.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Five research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $205.64.

Micron Technology Trading Up 1.6%

The company has a market cap of $274.89 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The business has a 50 day simple moving average of $188.99 and a 200 day simple moving average of $137.44.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.86. The business had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The firm’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, equities analysts forecast 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, October 21st. Investors of record on Friday, October 3rd were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, October 3rd. Micron Technology’s payout ratio is 6.06%.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 22,500 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $220.72, for a total value of $4,966,200.00. Following the transaction, the chief executive officer directly owned 446,578 shares in the company, valued at approximately $98,568,696.16. This trade represents a 4.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president owned 131,580 shares in the company, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 409,756 shares of company stock worth $85,308,033 in the last quarter. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Micron Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 104,653,450 shares of the semiconductor manufacturer’s stock worth $17,510,615,000 after buying an additional 773,788 shares during the period. State Street Corp boosted its stake in Micron Technology by 2.7% during the 2nd quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer’s stock worth $6,331,795,000 after acquiring an additional 1,349,713 shares during the last quarter. Geode Capital Management LLC grew its holdings in Micron Technology by 1.2% during the second quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer’s stock valued at $3,152,974,000 after purchasing an additional 314,489 shares during the period. Norges Bank acquired a new stake in Micron Technology in the second quarter worth $1,980,700,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.