Citigroup Lowers Micron Technology (NASDAQ:MU) Price Target to $1,150.00

Key Points

• Citigroup lowered Micron’s price target to $1,150 from $1,400 but maintained a “buy” rating, implying roughly 30.65% upside from the reported share price. The broader analyst consensus remains “Buy,” with an average target of $1,260.31.
• Micron reported a significant quarterly beat, delivering $25.11 in earnings per share versus the $21.39 consensus estimate and $41.46 billion in revenue versus $35.91 billion expected. Revenue increased 345.8% year over year, and the company guided to fourth-quarter EPS of $30–$32.
• Investors face both strong AI-driven demand and cyclical risks: long-term customer agreements and high-bandwidth-memory demand support the outlook, while planned capacity expansions by competitors and concerns about memory pricing could pressure future margins. Insiders sold $169.4 million of stock over the past three months.

Micron Technology (NASDAQ:MU - Get Free Report) had its price target reduced by research analysts at Citigroup from $1,400.00 to $1,150.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. Citigroup's price objective indicates a potential upside of 30.65% from the company's current price.

Several other equities analysts have also weighed in on MU. Cantor Fitzgerald reissued an "overweight" rating and set a $1,500.00 price objective on shares of Micron Technology in a report on Thursday, June 25th. Rosenblatt Securities boosted their price objective on Micron Technology from $1,200.00 to $1,500.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Wolfe Research set a $1,500.00 price objective on Micron Technology in a report on Thursday, June 25th. Erste Group Bank upgraded Micron Technology from a "hold" rating to a "buy" rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Company lifted their target price on Micron Technology from $1,220.00 to $1,525.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $1,260.31.

Micron Technology Stock Down 0.1%

Micron Technology stock traded down $1.28 during midday trading on Friday, hitting $880.19. 29,411,626 shares of the stock were exchanged, compared to its average volume of 45,758,117. Micron Technology has a 52-week low of $111.67 and a 52-week high of $1,255.00. The business's 50-day moving average price is $976.89 and its 200-day moving average price is $657.02. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $994.07 billion, a price-to-earnings ratio of 19.79 and a beta of 2.18.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, topping analysts' consensus estimates of $21.39 by $3.72. The firm had revenue of $41.46 billion for the quarter, compared to the consensus estimate of $35.91 billion. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The company's revenue was up 345.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, research analysts expect that Micron Technology will post 72.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Micron Technology news, Director Lynn A. Dugle sold 1,300 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total transaction of $1,495,559.00. Following the completion of the sale, the director directly owned 17,728 shares in the company, valued at $20,394,823.04. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares of the company's stock, valued at $13,488,907.17. The trade was a 10.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 164,179 shares of company stock valued at $169,385,921 over the last three months. 0.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp lifted its holdings in Micron Technology by 2.1% in the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer's stock worth $15,061,310,000 after buying an additional 1,090,644 shares during the period. Andar Capital Management HK Ltd grew its position in shares of Micron Technology by 856,960.3% in the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock worth $39,571,847,000 after buying an additional 34,278,413 shares during the last quarter. Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $6,433,456,000. Finally, Morgan Stanley increased its stake in shares of Micron Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer's stock valued at $4,679,771,000 after buying an additional 794,289 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron’s recently reported quarter was exceptionally strong, with revenue of $41.46 billion, non-GAAP EPS of $25.11, and gross margin of 84.9%. The company also provided robust fourth-quarter guidance of approximately $50 billion in revenue and about $31 in non-GAAP EPS.
• Positive Sentiment: Investors are encouraged by 16 strategic customer agreements extending through 2030. Several reportedly include minimum prices, price bands, or other protections that could make Micron’s revenue and margins less vulnerable to the usual memory-chip cycle. Micron’s 16 Contracts Reveal the Next AI Bottleneck
• Positive Sentiment: AI data-center demand continues to support high-bandwidth memory (HBM), with hyperscalers seeking to secure future supply. Analysts and financial publications continue to identify MU as a beneficiary of the semiconductor and AI infrastructure buildout. Semiconductor Sales Continue to Grow on AI Optimism
• Neutral Sentiment: Broader market sentiment is mixed. Oil-price concerns interrupted a recent market rally, while debate continues over whether AI-related semiconductor valuations have risen too far.
• Negative Sentiment: SK Hynix approved approximately $38 billion for two new memory fabs in South Korea. The spending has raised concerns that industry capacity will catch up with demand, potentially pressuring memory prices and Micron’s future margins. SK Hynix Reveals $38 Billion Factory Plan
• Negative Sentiment: Citi has reportedly adopted a more cautious view of memory pricing, reinforcing fears that the current earnings surge may be cyclical. Nvidia’s reported testing of lower-HBM versions of future Rubin Ultra GPUs also raises concern that some customers may seek to reduce memory intensity, although the impact remains uncertain. Why is Micron stock falling today?

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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