Micron Technology (NASDAQ:MU) Trading Up 2.6% – Here’s What Happened

Micron Technology, Inc. (NASDAQ:MU)’s share price traded up 2.6% during trading on Wednesday . The company traded as high as $233.83 and last traded at $230.26. 17,763,241 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 23,732,064 shares. The stock had previously closed at $224.53.

Analysts Set New Price Targets

MU has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Needham & Company LLC upped their price target on Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley raised their price target on shares of Micron Technology to $338.00 and gave the stock an “overweight” rating in a research note on Monday. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, November 17th. Finally, Wedbush increased their target price on shares of Micron Technology from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $216.11.

Micron Technology Stock Up 2.6%

The stock has a market cap of $258.84 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 0.51 and a beta of 1.62. The firm has a 50 day simple moving average of $204.00 and a 200-day simple moving average of $147.09. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share for the quarter, topping 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 business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same period in the previous year, the firm earned $1.18 EPS. The firm’s revenue was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Insider Activity at Micron Technology

In other Micron Technology news, CFO Mark J. Murphy sold 126,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 219,693 shares of the company’s stock, valued at $49,499,029.83. This represents a 36.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $220.72, for a total transaction of $4,966,200.00. Following the sale, the chief executive officer owned 446,578 shares of the company’s stock, valued at $98,568,696.16. This trade represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 409,756 shares of company stock valued at $85,308,033 over the last three months. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

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

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.