Erste Group Bank Has Positive Outlook for MU FY2028 Earnings

Key Points

• Erste Group Bank raised Micron’s FY2028 EPS forecast to $201.26 from $199.05 and maintained a “Buy” rating, above the current consensus estimate of $177.03.
• Micron delivered a strong quarter, with EPS of $33.42 beating estimates and revenue of $54.23 billion, up 379.1% year over year; it guided to $37.15–$39.15 in Q1 2027 EPS.
• Despite broadly bullish analyst sentiment and a “Moderate Buy” consensus, Micron shares opened down 6.3% amid wider technology-sector concerns, while recent insider stock sales added to profit-taking pressure.

Micron Technology, Inc. (NASDAQ:MU - Free Report) - Equities researchers at Erste Group Bank boosted their FY2028 EPS estimates for shares of Micron Technology in a report released on Wednesday, October 21st. Erste Group Bank analyst H. Engel now forecasts that the semiconductor manufacturer will post earnings per share of $201.26 for the year, up from their previous estimate of $199.05. Erste Group Bank has a "Buy" rating on the stock. The consensus estimate for Micron Technology's current full-year earnings is $177.03 per share.

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

Other analysts have also recently issued research reports about the stock. President Capital increased their price target on shares of Micron Technology to $1,500.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Micron Technology in a research report on Thursday, October 1st. Weiss Ratings raised Micron Technology from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, October 12th. ThinkEquity restated a "buy" rating on shares of Micron Technology in a report on Monday, August 3rd. Finally, Wedbush reissued an "outperform" rating and set a $1,400.00 price objective on shares of Micron Technology in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,407.88.

Micron Technology Trading Down 6.3%

MU opened at $856.49 on Friday. Micron Technology has a 52 week low of $192.59 and a 52 week high of $1,255.00. The business has a fifty day simple moving average of $985.49 and a 200-day simple moving average of $880.07. The firm has a market cap of $969.05 billion, a P/E ratio of 11.54, a P/E/G ratio of 0.16 and a beta of 2.22. The company has a quick ratio of 2.94, a current ratio of 3.31 and a debt-to-equity ratio of 0.03.

Institutional Trading of Micron Technology

Several institutional investors have recently modified their holdings of the stock. 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 valued at $39,571,847,000 after buying an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Micron Technology during the 2nd quarter worth $22,182,263,000. Legal & General Group Plc purchased a new stake in Micron Technology in the second quarter valued at $8,402,393,000. Situational Awareness LP lifted its position in Micron Technology by 1,149.0% in the second quarter. Situational Awareness LP now owns 4,828,786 shares of the semiconductor manufacturer's stock valued at $5,573,819,000 after acquiring an additional 5,289,124 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Micron Technology in the second quarter valued at $3,761,237,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In related news, insider Scott J. Deboer sold 28,545 shares of the company's stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $900.00, for a total value of $25,690,500.00. Following the completion of the transaction, the insider directly owned 147,430 shares of the company's stock, valued at $132,687,000. This represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred 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 in the company, valued at $256,276,956.70. This represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 83,545 shares of company stock worth $78,460,850. 0.24% of the stock is currently owned by insiders.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology's dividend payout ratio is presently 0.81%.

More Micron Technology News

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

• Positive Sentiment: Micron’s latest results remain a major support: quarterly revenue reached $54.23 billion, up 379% year over year, while EPS exceeded estimates. Management’s roughly $61.5 billion next-quarter revenue outlook points to continued strength in HBM, DRAM and NAND demand. Micron Posted a $54.23 Billion Quarter and Guided to $61.5 Billion for Next Quarter
• Positive Sentiment: Wedbush said Micron’s decision to pursue 3D DRAM rather than the competing 4F² architecture could preserve its technology advantage. ASML also expects memory demand to exceed supply through at least 2028, supporting the long-term shortage thesis. Micron charts a different course on DRAM, Wedbush says
• Positive Sentiment: Needham and Rosenblatt reaffirmed “buy” ratings with price targets of $1,650 and $1,900, respectively, arguing the stock’s valuation does not reflect its earnings growth and AI-memory position. Micron’s Earnings Reveal Why the AI Memory Boom May Last Longer
• Neutral Sentiment: A one-day walkout at Micron’s Taiwan facility reflects employee demands for higher profit sharing. Reports indicate limited immediate production impact, but labor negotiations create a potential operational risk. Micron’s Taiwan Strike: A High-Stakes Fight Over AI Profits
• Negative Sentiment: The immediate selloff reflects rising oil prices, inflation and interest-rate concerns, alongside investor worries that AI spending has become excessive and that capital may become scarcer for data-center projects. Nvidia, AMD and other memory and storage stocks also declined, intensifying sector pressure. Why Micron Stock Is Falling Hard Today
• Negative Sentiment: An insider sold approximately $25.7 million of MU stock. The transaction may add to profit-taking concerns after Micron’s extraordinary 2026 rally, although one sale does not establish a change in business outlook. Micron Technology Insider Sells Stock

Micron Technology Company Profile

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.

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