Micron Technology (NASDAQ:MU) Shares Up 15.7% Following Better-Than-Expected Earnings

Key Points

• Micron shares jumped 15.7% after the company reported stronger-than-expected quarterly results, with adjusted EPS of $25.11 and revenue of $41.46 billion, both well above analyst forecasts.
• Management issued very upbeat Q4 guidance, projecting revenue of $49 billion-$51 billion and EPS of $30-$32, signaling continued strength in AI-driven memory demand.
• Analysts responded positively, with several firms raising price targets and pointing to tight supply and long-term customer commitments as evidence that Micron’s growth story may have further room to run.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price was up 15.7% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $1,255.00 and last traded at $1,213.56. 81,443,586 shares were traded during trading, an increase of 79% from the average session volume of 45,406,031 shares. The stock had previously closed at $1,048.51.

The semiconductor manufacturer reported $25.11 EPS for the quarter, topping the consensus estimate of $20.98 by $4.13. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. During the same period in the prior year, the business posted $1.91 EPS. The business's revenue for the quarter was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, July 6th. Micron Technology's dividend payout ratio is currently 2.83%.

Key Micron Technology News

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

• Positive Sentiment: Micron beat Q3 estimates by a wide margin, with revenue of $41.46 billion and adjusted EPS of $25.11, showing that AI-driven DRAM and NAND demand is still accelerating. Reuters: Micron forecasts quarterly revenue above estimates
• Positive Sentiment: Management guided Q4 revenue to $49 billion-$51 billion and EPS to $30-$32, far above Wall Street expectations, reinforcing the view that the AI memory cycle has more room to run. GlobeNewswire: Micron Technology, Inc. Reports Record Results for the Third Quarter of Fiscal 2026
• Positive Sentiment: Analysts quickly raised price targets after the report, with several firms citing stronger visibility from long-term customer agreements and persistent supply shortages. Proactive Investors: Micron shares surge to all-time high as Wall Street cheers unprecedented contract visibility
• Positive Sentiment: Micron said customers have committed billions of dollars years in advance for memory supply, suggesting AI infrastructure demand is still outpacing capacity and supporting the stock’s higher valuation. Benzinga: Micron Says AI Customers Are Paying Billions Today For Memory They Won't Get Until Years Later

Wall Street Analyst Weigh In

MU has been the subject of several research analyst reports. Melius Research began coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a "buy" rating and a $700.00 price objective for the company. KeyCorp boosted their price objective on shares of Micron Technology from $600.00 to $1,600.00 and gave the company an "overweight" rating in a research note on Thursday. UBS Group increased their target price on Micron Technology from $535.00 to $1,625.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Erste Group Bank upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Royal Bank Of Canada upped their target price on Micron Technology from $1,200.00 to $1,500.00 and gave the company an "outperform" rating in a report on Thursday. Five research 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's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $1,184.13.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 146,000 shares of company stock valued at $85,486,715. Insiders own 0.24% of the company's stock.

Institutional Trading of Micron Technology

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock worth $30,427,016,000 after buying an additional 1,954,644 shares during the period. State Street Corp lifted its position in shares of 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 last quarter. Capital International Investors lifted its holdings in Micron Technology by 0.7% in the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock worth $3,910,198,000 after acquiring an additional 155,860 shares during the last quarter. Norges Bank acquired a new position in Micron Technology during the 4th quarter valued at approximately $6,433,456,000. Finally, Morgan Stanley boosted its holdings 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 acquiring an additional 794,289 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 57.30 and a beta of 2.16. The business's 50 day simple moving average is $788.74 and its 200-day simple moving average is $513.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

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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