Micron Technology, Inc. (NASDAQ:MU) Given Average Recommendation of “Buy” by Brokerages

Shares of Micron Technology, Inc. (NASDAQ:MU) have been assigned an average recommendation of “Buy” from the thirty-nine brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, thirty have issued a buy recommendation and five have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $690.9667.

MU has been the subject of a number of recent analyst reports. Summit Insights downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 19th. DA Davidson initiated coverage on shares of Micron Technology in a report on Monday, May 11th. They set a “buy” rating and a $1,000.00 price target for the company. KeyCorp raised their price target on shares of Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, Susquehanna raised their price target on shares of Micron Technology from $600.00 to $1,750.00 and gave the stock a “positive” rating in a report on Friday, May 29th.

More Micron Technology News

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

• Positive Sentiment: Wells Fargo raised its price target on Micron to $1,220 from $550 and maintained an overweight rating, while Cantor Fitzgerald lifted its target to $1,500, reinforcing Wall Street optimism on the company’s AI-memory growth outlook.
• Positive Sentiment: Analysts and market commentary continue to highlight a memory-chip supercycle, with long-term supply agreements and sustained AI infrastructure demand supporting Micron’s revenue and earnings potential.
• Positive Sentiment: Micron appointed Dr. Alexis Black Björlin to its board of directors, adding leadership experience in AI infrastructure, cloud platforms, and semiconductors that could strengthen strategic execution. Article Title
• Neutral Sentiment: Micron’s recent rally and extreme volatility have made the stock sensitive to any sign of weakness, and several articles noted that earnings on June 24 could either validate the AI-memory thesis or trigger a pullback if expectations are not met.
• Negative Sentiment: Short-term sentiment was also hit by a broader chip-sector correction, with memory and storage stocks falling together as investors reassessed the pace of the AI-driven advance.
• Negative Sentiment: Some commentary warned Micron’s valuation and recent gains may have moved too far too fast, making the stock vulnerable to profit-taking or disappointment if growth assumptions cool.

Micron Technology Stock Down 1.4%

MU stock opened at $935.89 on Wednesday. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 44.19 and a beta of 2.16. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology has a 12 month low of $103.38 and a 12 month high of $1,089.29. The firm has a 50-day moving average of $640.73 and a two-hundred day moving average of $449.45.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. The company had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. Micron Technology’s quarterly revenue was up 196 on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 EPS. As a group, analysts forecast that Micron Technology will post 58.79 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is 2.83%.

Insider Activity

In other news, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,000 shares of company stock worth $85,486,715 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the stock. REAP Financial Group LLC purchased a new position in shares of Micron Technology during the 3rd quarter worth approximately $25,000. High Note Wealth LLC boosted its position in shares of Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC boosted its position in shares of Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 71 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Micron Technology during the 1st quarter worth approximately $27,000. Finally, Steigerwald Gordon & Koch Inc. boosted its position in shares of Micron Technology by 4,800.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Company Profile

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.