Micron Technology (MU) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Micron Technology (NASDAQ: MU) in the last few weeks:

• 6/27/2024 – Micron Technology had its price target raised by analysts at JPMorgan Chase & Co. from $130.00 to $180.00. They now have an “overweight” rating on the stock.
• 6/27/2024 – Micron Technology had its price target raised by analysts at Piper Sandler from $130.00 to $150.00. They now have an “overweight” rating on the stock.
• 6/27/2024 – Micron Technology had its price target raised by analysts at KeyCorp from $150.00 to $160.00. They now have an “overweight” rating on the stock.
• 6/27/2024 – Micron Technology had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $170.00 price target on the stock.
• 6/27/2024 – Micron Technology had its price target lowered by analysts at UBS Group AG from $155.00 to $153.00. They now have a “buy” rating on the stock.
• 6/27/2024 – Micron Technology had its price target raised by analysts at The Goldman Sachs Group, Inc. from $138.00 to $158.00. They now have a “buy” rating on the stock.
• 6/27/2024 – Micron Technology had its price target raised by analysts at TD Cowen from $150.00 to $160.00. They now have a “buy” rating on the stock.
• 6/27/2024 – Micron Technology had its price target raised by analysts at Needham & Company LLC from $120.00 to $150.00. They now have a “buy” rating on the stock.
• 6/25/2024 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $225.00 price target on the stock.
• 6/24/2024 – Micron Technology had its price target raised by analysts at Robert W. Baird from $150.00 to $172.00. They now have an “outperform” rating on the stock.
• 6/24/2024 – Micron Technology had its price target raised by analysts at Morgan Stanley from $130.00 to $140.00. They now have an “equal weight” rating on the stock.
• 6/24/2024 – Micron Technology had its price target raised by analysts at Citigroup Inc. from $150.00 to $175.00. They now have a “buy” rating on the stock.
• 6/21/2024 – Micron Technology had its price target raised by analysts at Raymond James from $130.00 to $160.00. They now have an “outperform” rating on the stock.
• 6/21/2024 – Micron Technology had its price target raised by analysts at Wolfe Research from $150.00 to $200.00. They now have an “outperform” rating on the stock.
• 6/20/2024 – Micron Technology had its price target raised by analysts at Wells Fargo & Company from $135.00 to $190.00. They now have an “overweight” rating on the stock.
• 6/18/2024 – Micron Technology had its price target raised by analysts at Wedbush from $130.00 to $170.00. They now have an “outperform” rating on the stock.
• 6/18/2024 – Micron Technology had its price target raised by analysts at Stifel Nicolaus from $140.00 to $165.00. They now have a “buy” rating on the stock.
• 6/17/2024 – Micron Technology had its price target raised by analysts at Susquehanna from $143.00 to $185.00. They now have a “positive” rating on the stock.
• 6/17/2024 – Micron Technology had its price target raised by analysts at Cantor Fitzgerald from $150.00 to $180.00. They now have an “overweight” rating on the stock.
• 6/17/2024 – Micron Technology had its price target raised by analysts at Bank of America Co. from $144.00 to $170.00. They now have a “buy” rating on the stock.
• 6/10/2024 – Micron Technology had its price target raised by analysts at UBS Group AG from $125.00 to $155.00. They now have a “buy” rating on the stock.
• 6/4/2024 – Micron Technology had its price target raised by analysts at The Goldman Sachs Group, Inc. from $122.00 to $138.00. They now have a “buy” rating on the stock.
• 5/31/2024 – Micron Technology had its price target raised by analysts at Mizuho from $150.00 to $155.00. They now have a “buy” rating on the stock.
• 5/20/2024 – Micron Technology was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $130.00 price target on the stock, up previously from $98.00.
• 5/17/2024 – Micron Technology had its price target raised by analysts at Mizuho from $130.00 to $150.00. They now have a “buy” rating on the stock.
• 5/13/2024 – Micron Technology had its price target raised by analysts at Barclays PLC from $120.00 to $145.00. They now have an “overweight” rating on the stock.
• 5/6/2024 – Micron Technology was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $150.00 price target on the stock, up previously from $115.00.

Micron Technology Trading Down 1.2 %

Micron Technology stock traded down $1.59 during midday trading on Tuesday, reaching $129.93. 7,414,825 shares of the stock traded hands, compared to its average volume of 20,665,645. The firm has a market cap of $144.07 billion, a PE ratio of -91.50 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $60.50 and a 12-month high of $157.54. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $128.07 and a two-hundred day simple moving average of $106.46.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the company earned ($1.57) EPS. Micron Technology’s revenue for the quarter was up 81.5% compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 0.39 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. Micron Technology’s payout ratio is currently -32.39%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,730 shares of company stock valued at $37,771,649. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently bought and sold shares of MU. Vanguard Group Inc. grew its stake in shares of Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares during the period. Capital World Investors boosted its stake in shares of Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after acquiring an additional 1,400,154 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares in the last quarter. Capital International Investors increased its holdings in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.