Investment analysts at Deutsche Bank Aktiengesellschaft have raised their target price for Micron Technology (NASDAQ: MU) from $200.00 to $280.00. This adjustment, announced in a research note on October 27, indicates a potential upside of approximately 10.99% from the stock’s previous closing price. The firm currently maintains a “buy” rating on the semiconductor manufacturer’s shares.
This upward revision aligns with positive sentiments expressed by other financial analysts. For instance, Rosenblatt Securities has increased its price target for Micron Technology from $250.00 to $300.00, also assigning a “buy” rating. Similarly, Wolfe Research recently raised their target price from $200.00 to $300.00, marking it as an “outperform” investment. Citigroup has set a target of $275.00, while The Goldman Sachs Group has adjusted its price objective to $205.00, both maintaining “buy” ratings.
As of now, five equity research analysts have rated Micron Technology with a “strong buy,” while twenty-eight analysts rated it as a “buy,” and three analysts issued a “hold” rating. According to MarketBeat.com, the stock currently holds an average rating of “buy” with an average target price of $231.41.
Recent Performance Highlights
Micron Technology reported its quarterly earnings on September 23, 2023, revealing an earnings per share (EPS) of $3.03, surpassing the consensus estimate of $2.86 by $0.17. The company generated revenue of $11.32 billion, exceeding analysts’ expectations of $11.05 billion. Additionally, Micron announced a net margin of 22.84% and a return on equity of 17.21%. This represents a significant year-over-year revenue increase of 46.1%, compared to $1.18 EPS reported in the same quarter last year. Looking ahead, Micron Technology has provided guidance for Q1 2026, expecting EPS in the range of 3.600-3.900.
Insider Trading Activity
In recent insider trading news, CEO Sanjay Mehrotra sold 3,743 shares of Micron Technology on November 7, 2023, at an average price of $233.39, totaling approximately $873,578.77. Following this transaction, Mehrotra retains 396,578 shares valued at around $92,557,339.42. This transaction represents a 0.93% decrease in his ownership stake.
Additionally, Executive Vice President Scott J. Deboer sold 82,000 shares on October 27, 2023, at an average price of $222.81, resulting in a transaction of over $18 million. Post-sale, Deboer holds 154,145 shares valued at approximately $34.35 million, reflecting a 34.72% decrease in ownership. Over the last three months, insiders have sold a total of 399,852 shares, amounting to approximately $84 million. Insiders currently own 0.24% of the company’s stock.
Institutional Investors’ Involvement
Micron Technology has also seen substantial activity from institutional investors. Vanguard Group Inc. increased its stake by 0.7%, now holding 104,653,450 shares valued at approximately $17.51 billion. State Street Corp. and Geode Capital Management LLC have also boosted their holdings, with State Street acquiring an additional 285,582 shares and Geode increasing its stake by 1.2% in the second quarter.
Institutional investors collectively own 80.84% of Micron Technology’s stock, highlighting strong confidence in the company’s growth potential.
Founded in 1978, Micron Technology, Inc. is a global leader in the design, development, manufacturing, and sale of memory and storage products. The company operates through four distinct segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Its product offerings include high-speed data retrieval memory and storage technologies under the Micron and Crucial brands.
For those seeking further updates, Micron Technology’s ongoing performance can be tracked through market reports and analyst ratings.
