Micron Technology (NASDAQ:MU) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Micron Technology to “strong buy” from “hold.” The broader analyst consensus is “moderate buy,” with an average price target of $1,407.88.
• Micron exceeded quarterly expectations with $33.42 in EPS and $54.23 billion in revenue, while revenue surged 379.1% year over year. Management guided to $37.15–$39.15 in EPS for fiscal Q1 2027, supported by strong AI-related memory demand.
• Investors should also weigh risks, including insider selling, a potential strike at Micron’s Taiwan plants, a $600 million Netlist settlement, and concerns that memory prices and margins may be nearing a cyclical peak.

Micron Technology (NASDAQ:MU - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other brokerages have also weighed in on MU. Wolfe Research set a $1,500.00 target price on Micron Technology in a research report on Thursday, June 25th. Phillip Securities raised their price target on Micron Technology from $530.00 to $1,870.00 and gave the company a "buy" rating in a research note on Monday, June 29th. ThinkEquity restated a "buy" rating on shares of Micron Technology in a report on Monday, August 3rd. Rosenblatt Securities lifted their price objective on Micron Technology from $1,500.00 to $1,900.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $2,000.00 target price on shares of Micron Technology in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,407.88.

Micron Technology Price Performance

Shares of MU stock opened at $1,088.00 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.31 and a quick ratio of 2.94. The company has a market capitalization of $1.23 trillion, a P/E ratio of 14.66, a P/E/G ratio of 0.18 and a beta of 2.22. The company's 50-day simple moving average is $972.71 and its two-hundred day simple moving average is $836.22. Micron Technology has a one year low of $179.61 and a one year high of $1,255.00.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, beating the consensus estimate of $31.77 by $1.65. The firm had revenue of $54.23 billion during the quarter, compared to the consensus estimate of $51.33 billion. Micron Technology had a net margin of 63.80% and a return on equity of 92.62%. The company's revenue was up 379.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. As a group, equities analysts anticipate that Micron Technology will post 175.82 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Scott R. Allen sold 879 shares of Micron Technology stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $1,000.00, for a total value of $879,000.00. Following the transaction, the chief accounting officer owned 34,958 shares of the company's stock, valued at $34,958,000. The trade was a 2.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sumit Sadana sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the transaction, the executive vice president owned 191,021 shares of the company's stock, valued at approximately $178,469,010.09. This trade represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 95,879 shares of company stock worth $90,939,466. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. Andar Capital Management HK Ltd increased its position in Micron Technology by 856,960.3% during the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock valued at $39,571,847,000 after buying an additional 34,278,413 shares in the last quarter. Primecap Management Co. CA acquired a new stake in Micron Technology in the second quarter worth about $22,182,263,000. Bank of America Corp DE boosted its holdings in Micron Technology by 26.6% in the second quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer's stock worth $11,744,621,000 after acquiring an additional 2,136,470 shares in the last quarter. Invesco Ltd. grew its stake in shares of Micron Technology by 1.6% during the fourth quarter. Invesco Ltd. now owns 9,777,239 shares of the semiconductor manufacturer's stock worth $2,790,522,000 after acquiring an additional 155,073 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Micron Technology during the second quarter worth about $8,402,393,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology News Roundup

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

• Positive Sentiment: DA Davidson raised its price target to $3,000 from $2,100 and maintained a Buy rating, citing expectations that AI infrastructure demand will keep memory supply below demand through 2028. Why is Micron stock rising on Wednesday?
• Positive Sentiment: Investors are increasingly viewing Micron’s AI-related growth as more durable than a traditional memory cycle. More than 75% of fiscal 2027 shipments are reportedly committed, customers are discussing 2028 allocations, and data-center SSDs, DRAM and high-bandwidth memory are benefiting from expanding AI workloads. Micron’s Latest Earnings Reveal Why the AI Memory Supercycle Could Run for Years
• Positive Sentiment: Recent results reinforced the growth narrative: fiscal fourth-quarter revenue reached $54.23 billion and adjusted EPS was $33.42, while first-quarter fiscal 2027 guidance calls for $60 billion–$63 billion of revenue and $37.15–$39.15 of EPS. Tight supply, AI demand and potential future buybacks remain important supports. Micron’s profits surge as Meta’s AI spending accelerates
• Neutral Sentiment: Micron agreed to pay Netlist $600 million under a five-year patent license and settlement, resolving litigation but creating a significant cash expense. Micron Technology, Netlist Settle Patent Dispute for $600 Million
• Negative Sentiment: Workers at Micron’s Taiwan plants authorized a strike over bonus negotiations. No walkout has been announced, but Taiwan accounts for a substantial portion of production, creating execution and supply-disruption risk. Micron's Taoyuan union in Taiwan secures authorisation to strike
• Negative Sentiment: Valuation and cycle concerns remain: skeptics warn that memory prices and gross margins may be nearing a peak as new capacity arrives, while some investors view the stock’s large multi-year rally as pricing in substantial future growth. Micron: The Memory Cycle Is Approaching Its Peak

About Micron Technology

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, three-dimensional XPoint-related technologies, solid-state drives, and high-bandwidth memory products designed for demanding computing applications.

The company serves customers across the data center, artificial intelligence, networking, automotive, industrial, mobile, consumer electronics, and embedded markets.

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