Micron Technology (NASDAQ:MU) Trading Down 6.2% – Should You Sell?

Micron Technology, Inc. (NASDAQ:MU) shares dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $1,020.00 and last traded at $1,020.76. Approximately 44,477,767 shares were traded during mid-day trading, an increase of 0% from the average daily volume of 44,453,039 shares. The stock had previously closed at $1,087.99.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Wall Street issued a flurry of major bullish target hikes, including Deutsche Bank, Wedbush, Stifel, RBC, Citi and others, signaling much more upside if Micron delivers on June 24 earnings. Veteran Analyst Firm Hikes Micron Stock Target 100% Just Before Earnings
• Positive Sentiment: Apple CEO Tim Cook’s comments that iPhone price hikes may be “unavoidable” reinforced the market’s view that rising component costs and strong AI-related demand are supporting memory-chip pricing and Micron’s revenue outlook. Why Apple Price Hikes Are Sending Micron Stock Toward a Record High
• Positive Sentiment: Investors are increasingly focused on Micron’s HBM business and AI exposure, including its role as an HBM4 supplier for Nvidia’s next-gen AI platform and continued tight supply in advanced memory. Micron Technology (MU) Is Up 17.0% After Nvidia HBM4 Win And AI Board Hire – Has The Bull Case Changed?
• Positive Sentiment: Retail investors are also piling into MU ahead of earnings, adding momentum to the stock’s strong run. Retail Investors Piling into Micron Stock (MU) Ahead of Q3 Earnings
• Neutral Sentiment: Micron’s upcoming fiscal Q3 report on June 24 is a major catalyst, with the market watching whether strong estimates and recent target hikes will be justified by results and guidance. Curious about Micron (MU) Q3 Performance? Explore Wall Street Estimates for Key Metrics
• Negative Sentiment: Some analysts and investors are warning the stock may already be pricing in a lot of good news after an enormous year-to-date run, which could increase downside risk if earnings or guidance disappoint. ‘Take Profits’: Top Investor Thinks the Time Has Come to Leave Micron Stock

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Micron Technology from $550.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Sanford C. Bernstein increased their target price on shares of Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Needham & Company LLC increased their target price on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Wolfe Research lifted their price target on shares of Micron Technology from $550.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada boosted their price target on shares of Micron Technology from $525.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus price target of $913.47.

Micron Technology Stock Performance

The company has a market cap of $1.28 trillion, a PE ratio of 53.54 and a beta of 2.16. The stock has a 50 day simple moving average of $718.42 and a two-hundred day simple moving average of $482.57. 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 announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same period last year, the firm posted $1.56 earnings per share. The company’s revenue for the quarter was up 196 compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 59.23 EPS for the current year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 146,000 shares of company stock valued at $85,486,715. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently added to or reduced their stakes in MU. Norges Bank acquired a new position in shares of Micron Technology in the fourth quarter valued at approximately $6,433,456,000. AQR Capital Management LLC lifted its holdings in shares of Micron Technology by 411.9% during the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock worth $606,873,000 after purchasing an additional 2,918,535 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Micron Technology by 1,340.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock worth $805,148,000 after purchasing an additional 2,625,169 shares during the period. Amundi grew its position in Micron Technology by 65.0% in the 4th quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock valued at $1,424,025,000 after buying an additional 1,965,319 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Micron Technology by 1.9% in 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 buying an additional 1,954,644 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.