Micron Technology (NASDAQ:MU) Releases Q1 2027 Earnings Guidance

Key Points

• Micron issued stronger-than-expected Q1 2027 guidance: EPS is projected at $37.150–$39.150 versus the $35.360 consensus, while revenue is expected at $60.0–$63.0 billion versus $57.2 billion.
• Analysts remain broadly bullish: Micron has a “Moderate Buy” consensus rating, with 39 Buy ratings and an average price target of $1,348.03.
• AI-driven memory demand supports the outlook, but risks remain: Tight supply and demand for DRAM and high-bandwidth memory could boost pricing, while rising non-HBM supply, slower memory-price growth, legal disputes and elevated valuation may pressure results.

Micron Technology (NASDAQ:MU - Get Free Report) issued an update on its first quarter 2027 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 37.150-39.150 for the period, compared to the consensus estimate of 35.360. The company issued revenue guidance of $60.0 billion-$63.0 billion, compared to the consensus revenue estimate of $57.2 billion.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $0.03 on Wednesday, hitting $1,065.11. The company's stock had a trading volume of 24,984,714 shares, compared to its average volume of 41,879,957. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 0.66 and a beta of 2.22. 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 firm has a fifty day moving average price of $950.64 and a 200-day moving average price of $809.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MU shares. BNP Paribas Exane lifted 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. UBS Group reissued a "buy" rating and set a $1,625.00 price target (up from $535.00) on shares of Micron Technology in a research report on Wednesday, September 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a report on Friday, August 7th. BMO Capital Markets began coverage on shares of Micron Technology in a research note on Friday, August 21st. They set an "outperform" rating and a $1,300.00 price target on the stock. Finally, Daiwa Securities Group raised their price target on Micron Technology from $1,600.00 to $1,700.00 and gave the stock a "buy" rating in a report on Friday, July 17th. One equities research 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,348.03.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 264,503 shares of the company's stock, valued at $256,276,956.70. This trade represents a 13.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sumit Sadana sold 15,000 shares of Micron Technology stock in a transaction dated 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 95,879 shares of company stock valued at $90,939,466. Insiders own 0.24% of the company's stock.

Key Headlines Impacting 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

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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