Micron Technology (NASDAQ:MU) Stock Jumps 2.6% – Time to Buy?

Micron Technology, Inc. (NASDAQ:MU) shares traded up 2.6% during mid-day trading on Tuesday. The stock traded as high as $871.49 and last traded at $855.10. 20,420,104 shares traded hands during trading, a decline of 49% from the average daily volume of 40,217,488 shares. The stock had previously closed at $833.59.

More Micron Technology News

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

• Positive Sentiment: Memory stocks recovered some of Monday’s losses as investors rotated back into semiconductor shares; falling crude prices also supported risk appetite. Why are Micron, SK Hynix, and SanDisk stocks rising on Tuesday?
• Positive Sentiment: Longer-term AI demand remains a key support: reports highlight memory’s growing importance to AI performance, multiyear customer agreements, and expectations that demand could outpace supply for years. Micron Said “Super Intelligence” Creates the Most Compelling Opportunity in Its History SK hynix Says Memory Demand Beats Supply Through 2030
• Positive Sentiment: Micron may ramp up share repurchases from Dec. 9, when federal Chips Act restrictions expire. The planned buyback authorization is cited as potential support for the stock, alongside analyst optimism and a low earnings-based valuation. Micron Expected to Launch Massive Stock Buybacks in December
• Negative Sentiment: Recent caution from memory maker Kioxia pressured the sector Monday, raising concerns about the outlook for memory demand and weighing on Micron and peers. Tuesday’s rebound may therefore be vulnerable if industry forecasts remain cautious. Kioxia’s Cautious Outlook Hits Memory Stocks
• Negative Sentiment: Some commentary warns that Micron’s earnings and share performance could be exposed if the current memory shortage fades; the stock also remains well below its 52-week high, underscoring recent volatility. Micron Technology: Is This a Sign That Its Stock Has Already Peaked?

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. New Street Research raised Micron Technology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $470.00 to $1,250.00 in a research note on Friday, August 14th. William Blair set a $1,300.00 price objective on shares of Micron Technology in a research report on Thursday, October 1st. Itau BBA Securities upped their price objective on shares of Micron Technology from $1,243.78 to $1,697.09 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,650.00 target price on shares of Micron Technology in a research report on Thursday, October 22nd. Finally, TD Cowen reaffirmed a “buy” rating and set a $1,600.00 target price 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 assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,407.88.

Micron Technology Stock Up 2.6%

The company has a market capitalization of $967.48 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.17 and a beta of 2.22. The company has a 50-day moving average of $976.02 and a two-hundred day moving average of $747.00. 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 quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 379.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, research analysts predict that Micron Technology, Inc. will post 177.03 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 14th. Micron Technology’s dividend payout ratio (DPR) is presently 0.81%.

Insider Buying and Selling

In related news, insider Scott Deboer sold 28,545 shares of Micron Technology stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $900.00, for a total transaction of $25,690,500.00. Following the completion of the transaction, the insider directly owned 147,430 shares of the company’s stock, valued at $132,687,000. This trade represents a 16.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sumit Sadana sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the sale, the executive vice president directly owned 191,021 shares in the company, valued at $178,469,010.09. The trade was a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 83,545 shares of company stock worth $78,460,850 in the last three months. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

Hedge funds have recently made changes to their positions in the stock. M.E. Allison & CO. Inc. boosted its stake in Micron Technology by 0.8% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 1,324 shares of the semiconductor manufacturer’s stock valued at $1,528,000 after purchasing an additional 11 shares during the last quarter. Purus Wealth Management LLC boosted its stake in shares of Micron Technology by 1.4% during the 3rd quarter. Purus Wealth Management LLC now owns 814 shares of the semiconductor manufacturer’s stock worth $867,000 after acquiring an additional 11 shares during the last quarter. Ables Iannone Moore & Associates Inc. increased its holdings in Micron Technology by 5.3% in the 3rd quarter. Ables Iannone Moore & Associates Inc. now owns 237 shares of the semiconductor manufacturer’s stock worth $252,000 after acquiring an additional 12 shares in the last quarter. Koesten Hirschmann & Crabtree INC. raised its holdings in Micron Technology by 5.6% during the third quarter. Koesten Hirschmann & Crabtree INC. now owns 228 shares of the semiconductor manufacturer’s stock valued at $243,000 after acquiring an additional 12 shares during the period. Finally, Physician Wealth Advisors Inc. grew its stake in Micron Technology by 1.6% during the third quarter. Physician Wealth Advisors Inc. now owns 762 shares of the semiconductor manufacturer’s stock valued at $812,000 after acquiring an additional 12 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

About Micron Technology

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.