Micron Technology (NASDAQ:MU) Price Target Raised to $300.00

Micron Technology (NASDAQ:MU) had its price target increased by Citigroup from $275.00 to $300.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the semiconductor manufacturer’s stock.

Several other brokerages have also recently commented on MU. Needham & Company LLC boosted their price target on Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. New Street Research reiterated a “neutral” rating on shares of Micron Technology in a research note on Tuesday, October 14th. BNP Paribas Exane raised shares of Micron Technology from an “underperform” rating to an “outperform” rating and set a $270.00 target price for the company in a research report on Monday, October 13th. KGI Securities upgraded shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Finally, Bank of America lifted their price objective on shares of Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $236.59.

Micron Technology Trading Down 6.7%

NASDAQ MU opened at $241.14 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology has a 1-year low of $61.54 and a 1-year high of $264.75. The firm’s fifty day simple moving average is $223.10 and its 200-day simple moving average is $159.53. The company has a market capitalization of $271.07 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 0.44 and a beta of 1.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.17. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The firm had revenue of $11.32 billion during the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, sell-side analysts anticipate that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Activity

In related news, CEO Sanjay Mehrotra sold 3,743 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $233.39, for a total transaction of $873,578.77. Following the completion of the sale, the chief executive officer owned 396,578 shares in the company, valued at $92,557,339.42. This represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Murphy sold 126,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $225.31, for a total value of $28,389,060.00. Following the completion of the sale, the chief financial officer directly owned 219,693 shares in the company, valued at $49,499,029.83. This trade represents a 36.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 392,352 shares of company stock valued at $82,994,387 over the last three months. 0.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Micron Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 104,653,450 shares of the semiconductor manufacturer’s stock worth $17,510,615,000 after acquiring an additional 773,788 shares during the period. State Street Corp grew its position in Micron Technology by 0.6% in the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock worth $8,643,613,000 after purchasing an additional 285,582 shares during the last quarter. Geode Capital Management LLC grew its position in Micron Technology by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer’s stock worth $3,152,974,000 after purchasing an additional 314,489 shares during the last quarter. Capital International Investors increased its holdings in shares of Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares during the period. Finally, Norges Bank acquired a new position in shares of Micron Technology during the second quarter valued at about $1,980,700,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

About Micron Technology

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.