Micron Technology (NASDAQ:MU) Trading Up 6.5% on Analyst Upgrade

Shares of Micron Technology, Inc. (NASDAQ:MU) were up 6.5% during trading on Monday after Wells Fargo & Company raised their price target on the stock from $220.00 to $300.00. Wells Fargo & Company currently has an overweight rating on the stock. Micron Technology traded as high as $257.07 and last traded at $253.30. Approximately 27,739,546 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 23,380,232 shares. The stock had previously closed at $237.92.

MU has been the topic of several other reports. Itau BBA Securities began coverage on Micron Technology in a research note on Tuesday, October 7th. They set an “outperform” rating and a $249.00 price target on the stock. BNP Paribas Exane upgraded shares of Micron Technology from an “underperform” rating to an “outperform” rating and set a $270.00 price target on the stock in a research note on Monday, October 13th. Cantor Fitzgerald increased their price objective 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. Wolfe Research upped their target price on shares of Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Piper Sandler raised their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Five analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $205.64.

Insider Activity

In other news, EVP Scott J. Deboer sold 82,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the completion of the transaction, the executive vice president directly owned 154,145 shares in the company, valued at $34,345,047.45. This trade represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 10,602 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $225.23, for a total value of $2,387,888.46. Following the sale, the chief executive officer directly owned 409,078 shares of the company’s stock, valued at $92,136,637.94. This represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 397,256 shares of company stock worth $82,321,039. 0.30% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. REAP Financial Group LLC bought a new position in Micron Technology during the third quarter valued at about $25,000. First Command Advisory Services Inc. increased its holdings in Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 153 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Micron Technology during the third quarter valued at about $27,000. Howard Hughes Medical Institute bought a new position in Micron Technology during the second quarter worth about $30,000. Finally, AlphaQuest LLC raised its position in shares of Micron Technology by 13,250.0% in the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 265 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 6.5%

The company has a market capitalization of $284.32 billion, a PE ratio of 33.37, a PEG ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The stock’s 50 day moving average is $181.33 and its 200 day moving average is $134.31.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, hitting the consensus estimate of $2.86. The firm had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Friday, October 3rd were given a dividend of $0.115 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s payout ratio is currently 6.06%.

Micron Technology Company Profile

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.