Micron Technology (NASDAQ:MU) Shares Gap Down After Analyst Downgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price gapped down before the market opened on Thursday after Erste Group Bank downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $367.85, but opened at $341.34. Micron Technology shares last traded at $353.7520, with a volume of 8,704,658 shares.

Other equities analysts also recently issued research reports about the company. Mizuho lifted their price objective on Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, March 19th. William Blair started coverage on Micron Technology in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Wedbush raised their target price on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Citigroup reduced their price target on Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC boosted their price target 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. Five investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $463.71.

Insiders Place Their Bets

In other Micron Technology news, Director Teyin M. Liu bought 7,820 shares of Micron Technology stock in a transaction on Wednesday, January 14th. The shares were bought at an average price of $337.50 per share, for a total transaction of $2,639,250.00. Following the completion of the transaction, the director directly owned 25,910 shares of the company’s stock, valued at $8,744,625. This trade represents a 43.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Manish H. Bhatia sold 26,623 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $391.04, for a total value of $10,410,657.92. Following the completion of the transaction, the executive vice president directly owned 323,486 shares in the company, valued at approximately $126,495,965.44. This trade represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders purchased 23,200 shares of company stock worth $7,821,723 and sold 53,623 shares worth $21,832,908. 0.24% of the stock is owned by insiders.

Micron Technology News Roundup

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

• Positive Sentiment: Mad Money host Jim Cramer said Micron and other memory names are sitting on an AI storage “gold mine,” reinforcing the narrative that AI demand will keep memory pricing strong. Jim Cramer Says Micron Technology, Other Memory Rivals Are Sitting On ‘Gold Mine’ Amid AI Storage Crunch
• Positive Sentiment: Top Wall Street analysts are calling MU a top pick with multi?year upside tied to AI memory demand; fresh analyst optimism is driving buying interest. Top Analyst Calls Micron Stock (MU) a “Top Pick,” Sees Multi-Year AI Upside
• Positive Sentiment: Billionaire investor interest (reports that Ray Dalio is adding MU) and heavy analyst coverage lift confidence that institutional demand will support the rally. Micron Technology (MU): Billionaire Ray Dalio Is Loading Up on This Chip Stock
• Positive Sentiment: Market coverage notes MU’s strong earnings (record Q2 revenue and margins) and persistent HBM shortages; that fundamental backdrop is cited for the recent price bounce. Micron Stock: Why I’m Doubling Down
• Neutral Sentiment: Micron completed cash tender offers for several senior notes (balance?sheet refinancing action); neutral for operations but removes some debt and clarifies near?term obligations. Micron Announces the Expiration of the Cash Tender Offers for Any and All of Certain Outstanding Senior Notes
• Negative Sentiment: Citigroup and other outlets have issued more cautious near?term forecasts and trimmed price targets, citing aggressive capex plans and potential memory price volatility — a reminder that elevated spending could pressure free cash flow. Citigroup Issues Pessimistic Forecast for Micron Technology (NASDAQ:MU) Stock Price
• Negative Sentiment: Technical/structural risk from Google’s TurboQuant and similar memory?efficiency advances prompted a recent selloff; analysts warn this could mute demand growth if adoption accelerates. Does Google’s New TurboQuant Technology Mean the Party’s Over for Micron?

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently made changes to their positions in MU. iA Global Asset Management Inc. increased its holdings in Micron Technology by 18.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock worth $24,578,000 after purchasing an additional 23,117 shares during the period. Cary Street Partners Financial LLC boosted its stake in shares of Micron Technology by 25.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 26,132 shares of the semiconductor manufacturer’s stock valued at $3,221,000 after buying an additional 5,233 shares during the period. Wealthfront Advisers LLC grew its position in shares of Micron Technology by 9.8% during the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock worth $15,962,000 after buying an additional 8,489 shares in the last quarter. Westpac Banking Corp grew its position in shares of Micron Technology by 251.0% during the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock worth $3,863,000 after buying an additional 16,509 shares in the last quarter. Finally, Generation Capital Management LLC purchased a new stake in shares of Micron Technology during the third quarter worth approximately $238,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

The stock’s 50 day moving average is $404.40 and its two-hundred day moving average is $297.01. The stock has a market capitalization of $404.38 billion, a PE ratio of 16.90 and a beta of 1.60. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is currently 2.83%.

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.