Micron Technology (NASDAQ:MU) Trading Up 2.6% – Time to Buy?

by · The Markets Daily

Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares shot 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 were traded 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.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MU shares. BNP Paribas Exane upgraded Micron Technology from an “underperform” rating to an “outperform” rating and set a $270.00 price objective for the company in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Micron Technology from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Piper Sandler boosted their target price on shares of Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, UBS Group increased their target price on shares of Micron Technology from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Five research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Micron Technology has an average rating of “Buy” and a consensus price target of $216.11.

Read Our Latest Report on Micron Technology

Micron Technology Price Performance

The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $258.84 billion, a P/E ratio of 30.34, a PEG ratio of 0.51 and a beta of 1.62. The company has a fifty day simple moving average of $204.00 and a two-hundred day simple moving average of $147.09.

Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 EPS for the quarter, topping the consensus estimate of $2.86 by $0.17. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The company had revenue of $11.32 billion during the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the previous year, the company earned $1.18 EPS. Micron Technology’s revenue was up 46.1% on a year-over-year basis. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Insider Buying and Selling

In other Micron Technology news, EVP Scott J. Deboer sold 82,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the transaction, the executive vice president owned 154,145 shares in the company, valued at approximately $34,345,047.45. This trade represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark J. Murphy sold 126,000 shares of the company’s 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 completion of the sale, the chief financial officer directly owned 219,693 shares of the company’s stock, valued at approximately $49,499,029.83. This trade represents a 36.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 409,756 shares of company stock valued at $85,308,033 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently modified their holdings of the business. REAP Financial Group LLC bought a new stake in Micron Technology during the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Micron Technology in the third quarter valued at approximately $27,000. Cullen Frost Bankers Inc. increased its position in shares of Micron Technology by 79.3% during the third quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 88 shares in the last quarter. First Command Advisory Services Inc. increased its position in shares of Micron Technology by 225.0% during the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 153 shares in the last quarter. Finally, Osterweis Capital Management Inc. raised its holdings in shares of Micron Technology by 205.5% during the third quarter. Osterweis Capital Management Inc. now owns 223 shares of the semiconductor manufacturer’s stock worth $37,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

About Micron Technology

(Get Free Report)

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.

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