Micron Technology (NASDAQ:MU) Trading Up 6.8% After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s stock price shot up 6.8% during mid-day trading on Monday after Needham & Company LLC raised their price target on the stock from $500.00 to $1,550.00. Needham & Company LLC currently has a buy rating on the stock. Micron Technology traded as high as $1,213.56 and last traded at $1,211.38. Approximately 51,145,444 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 44,748,703 shares. The stock had previously closed at $1,133.99.

Several other equities research analysts have also recently weighed in on the company. Raymond James Financial increased their price target on Micron Technology from $530.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. UBS Group lifted their price objective on Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Bank of America upped their target price on Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Sanford C. Bernstein set a $1,300.00 target price on shares of Micron Technology in a research report on Monday. Finally, Susquehanna increased their target price on shares of Micron Technology from $600.00 to $1,750.00 and gave the company a “positive” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $974.80.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 146,000 shares of company stock valued at $85,486,715 over the last 90 days. 0.24% of the stock is owned by company insiders.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron announced a strategic agreement with Anthropic that includes memory and storage supply, AI infrastructure design collaboration, enterprise adoption of Claude, and a strategic investment in Anthropic’s latest funding round, reinforcing Micron’s role in AI infrastructure. Reuters article
• Positive Sentiment: Wall Street sentiment remains upbeat heading into earnings, with multiple firms lifting targets; Needham reportedly raised its price target to $1,550, while other recent targets also cluster in the $1,200-$1,500 range. Benzinga article
• Positive Sentiment: Investors are betting on a big earnings beat, with coverage pointing to a near quadrupling of revenue year over year and a roughly 10x jump in EPS, driven by surging AI memory demand. Invezz article
• Positive Sentiment: Momentum traders are also supportive, with articles noting Micron hitting record highs and broader memory-chip stocks rallying into the earnings release. Schaeffer’s article
• Neutral Sentiment: Options traders are bracing for a large post-earnings move, with some estimates implying about a 14% swing, underscoring how much of the current rally is tied to the upcoming report. TipRanks article
• Negative Sentiment: After a massive run-up, some commentary warns that expectations are stretched and that even a solid quarter may not be enough if guidance disappoints or memory pricing cools. Barron’s article

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MU. Kohmann Bosshard Financial Services LLC bought a new position in shares of Micron Technology in the first quarter valued at approximately $27,000. High Note Wealth LLC lifted its holdings in Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 34 shares during the period. Elevation Wealth Partners LLC boosted its position in Micron Technology by 295.8% in the fourth 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 last quarter. Steigerwald Gordon & Koch Inc. boosted its position in Micron Technology by 4,800.0% in the fourth 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 last quarter. Finally, Bayban purchased a new position in Micron Technology in the fourth quarter worth $29,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

The stock has a market cap of $1.37 trillion, a P/E ratio of 57.19 and a beta of 2.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The business has a 50 day simple moving average of $748.09 and a 200-day simple moving average of $495.18.

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.