Micron Technology (NASDAQ:MU) Stock Rating Reaffirmed as Buy by TD Cowen

Key Points

• TD Cowen reaffirmed its Buy rating on Micron Technology and set a $1,600 price target, implying approximately 53.45% upside from the current share price. The broader analyst consensus is also favorable, with a Moderate Buy rating and an average target of $1,378.08.
• Micron reported a strong quarterly performance, with EPS of $33.42 and revenue of $54.23 billion, both above estimates, while revenue surged 379% year over year. Management also issued above-consensus fiscal Q1 2027 guidance, supported by robust AI-related data-center and high-bandwidth memory demand.
• Insiders have been selling shares: executives sold 95,879 shares worth approximately $90.9 million over the past three months. Investors also face risks from memory-market cyclicality, elevated capital spending and concerns that future supply growth could pressure margins.

Micron Technology (NASDAQ:MU - Get Free Report)'s stock had its "buy" rating reiterated by TD Cowen in a research note issued to investors on Thursday, Benzinga reports. They currently have a $1,600.00 price target on the semiconductor manufacturer's stock. TD Cowen's price target points to a potential upside of 53.45% from the company's current price.

A number of other analysts also recently weighed in on the company. BNP Paribas Exane upped their target price on Micron Technology from $615.00 to $1,700.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Robert W. Baird upped their price target on shares of Micron Technology from $1,280.00 to $1,520.00 and gave the stock an "outperform" rating in a report on Monday. Itau BBA Securities upped their price target on shares of Micron Technology from $1,243.78 to $1,697.09 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $550.00 to $1,540.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Finally, Wolfe Research set a $1,500.00 price target on shares of Micron Technology in a report on Thursday, June 25th. Forty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,378.08.

Micron Technology Price Performance

Shares of NASDAQ:MU traded down $22.42 during trading on Thursday, reaching $1,042.69. 15,276,177 shares of the company traded hands, compared to its average volume of 41,791,734. The company's 50 day moving average is $952.75 and its two-hundred day moving average is $814.16. The firm has a market capitalization of $1.18 trillion, a PE ratio of 23.64, a PEG ratio of 0.67 and a beta of 2.22. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. Micron Technology has a 52 week low of $179.61 and a 52 week high of $1,255.00.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, beating analysts' consensus estimates of $31.72 by $1.70. The firm had revenue of $54.23 billion during the quarter, compared to the consensus estimate of $51.33 billion. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The company's revenue was up 379.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.03 EPS. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. As a group, sell-side analysts predict that Micron Technology will post 73.12 earnings per share for the current year.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the transaction, the chief executive officer owned 264,503 shares of the company's stock, valued at approximately $256,276,956.70. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 15,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the transaction, the executive vice president directly owned 191,021 shares of the company's stock, valued at $178,469,010.09. The trade was a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 95,879 shares of company stock worth $90,939,466. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC bought a new position in Micron Technology during the first quarter worth $27,000. Bullseye Investment Management LLC bought a new position in Micron Technology during the second quarter worth $27,000. Bayban bought a new position in Micron Technology during the fourth quarter worth $29,000. Financial Life Planners bought a new position in Micron Technology during the first quarter worth $36,000. Finally, Portus Wealth Advisors LLC bought a new stake in Micron Technology in the first quarter worth approximately $37,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology News Roundup

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

• Positive Sentiment: Micron reported record fiscal Q4 revenue of $54.23 billion, up 379% year over year, and adjusted EPS of $33.42, exceeding consensus estimates of $51.33 billion and $31.72, respectively. Data-center demand and high-bandwidth memory sales tied to AI infrastructure were the primary growth drivers. Micron beats on revenue and earnings as global memory shortage continues
• Positive Sentiment: Management issued fiscal Q1 2027 revenue guidance of $60 billion-$63 billion and EPS guidance of $37.15-$39.15, both above Wall Street expectations. More than 75% of next year’s output is reportedly committed, while management expects tight memory supply to persist into 2027 and potentially 2028. Micron forecasts quarterly revenue above estimates
• Positive Sentiment: Analysts raised their outlooks following the results. D.A. Davidson lifted its price target to $2,100 from $2,000 with a Buy rating; Rosenblatt raised its target to $1,900 from $1,500; and Cantor Fitzgerald reiterated Overweight with a $2,000 target. These actions reinforce the bullish view on AI memory demand and pricing power. D.A. Davidson raises Micron forecast
• Neutral Sentiment: Micron declared a quarterly dividend of $0.15 per share, or $0.60 annualized, with payment scheduled for October 29. The dividend provides limited income support given the approximately 0.1% yield.
• Negative Sentiment: The muted share reaction reflects how much optimism was already priced in after a major rally. Investors are also focused on a slight sequential gross-margin decline in the forecast, aggressive capital spending, possible future supply increases and the cyclical nature of memory pricing. Michael Burry’s bearish put position and a Netlist complaint seeking to restrict imports of certain Micron chips add further uncertainty. Why Micron stock fell despite strong results

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.