Micron Technology (NASDAQ:MU) Issues Quarterly Earnings Results

Key Points

• Micron exceeded quarterly expectations, reporting EPS of $33.19 versus the $31.72 consensus estimate. The company raised its Q1 2027 EPS guidance to a range of $37.15–$39.15.
• Shares traded near $1,065, with analysts maintaining a broadly bullish outlook; Micron has a “Moderate Buy” consensus rating and an average price target of $1,348.03.
• While AI-driven demand for DRAM and high-bandwidth memory supports the growth outlook, investors face risks from potential memory-price cooling, increased non-HBM supply, legal action involving Micron chips, and elevated stock volatility.

Micron Technology (NASDAQ:MU - Get Free Report) issued its quarterly earnings results on Wednesday. The semiconductor manufacturer reported $33.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $31.72 by $1.47, Zacks reports. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%. Micron Technology updated its Q1 2027 guidance to 37.150-39.150 EPS.

Micron Technology Stock Up 0.0%

MU traded up $0.03 during mid-day trading on Wednesday, reaching $1,065.11. 26,444,126 shares of the stock were exchanged, compared to its average volume of 41,879,957. Micron Technology has a 1 year low of $165.50 and a 1 year high of $1,255.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. The stock has a market capitalization of $1.20 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 0.66 and a beta of 2.22. The company has a 50 day moving average price of $950.64 and a two-hundred day moving average price of $809.51.

Insider Activity

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

Trending Headlines about Micron Technology

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

• Positive Sentiment: AI demand and tight supply support the bull case. Analysts and market commentators expect strong demand for DRAM and high-bandwidth memory used in AI data centers, potentially giving Micron greater pricing power and supporting revenue, margins and cash flow. Micron's AI Boom Isn't Done Yet
• Positive Sentiment: Expectations remain elevated for a strong quarter and outlook. Wall Street is looking beyond the fiscal fourth-quarter results to Micron’s November-quarter guidance, particularly whether gross margins can remain near historically high levels as AI-related demand expands. JPMorgan has suggested the company could deliver a “beat and raise,” while also pointing to potential increases in dividends or buybacks. JPMorgan Sees Micron Positioned for Beat-and-Raise
• Positive Sentiment: Options positioning and ETF interest are supportive. Options activity is skewed bullish ahead of the report, while Micron’s large weight in memory- and semiconductor-focused ETFs has increased its importance to broader technology investors. Micron Options Chain Skews Bullish
• Neutral Sentiment: Volatility is likely to remain high. Traders are pricing in a sizable post-earnings move after Micron’s substantial 2026 rally, making forward guidance more important than the reported quarter itself. Softer U.S. inflation data has also improved the broader technology-market backdrop.
• Negative Sentiment: Investors are concerned that memory pricing momentum may cool. Rising non-HBM DRAM supply from China, slowing spot and contract-price growth, and weaker demand outside AI could pressure Micron’s pricing power and gross margins. Why I Wouldn't Own Micron Into Print
• Negative Sentiment: Legal and valuation risks add downside pressure. Netlist is seeking a U.S. import ban covering certain Micron chips used in AI products, while investor Michael Burry has reportedly shifted to put options, underscoring skepticism after the stock’s extraordinary advance. Netlist Seeks U.S. Import Ban on Micron Chips

Wall Street Analysts Forecast Growth

MU has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of Micron Technology from $1,280.00 to $1,520.00 and gave the company an "outperform" rating in a research note on Monday. TD Cowen reissued a "buy" rating and set a $1,600.00 target price (up from $1,500.00) on shares of Micron Technology in a research note on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Micron Technology from $1,500.00 to $1,550.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. ThinkEquity reaffirmed a "buy" rating on shares of Micron Technology in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein set a $1,300.00 price objective on shares of Micron Technology and gave the stock an "outperform" rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,348.03.

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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