Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup raised its price target on Micron Technology to $1,400 from $1,200 and kept a buy rating, implying about 16.5% upside from the current share price.
• Micron reported strong quarterly results, with EPS of $25.11 and revenue of $41.46 billion, both well above estimates, and revenue jumped 345.8% year over year.
• Management issued bullish guidance for Q4, forecasting EPS of $30 to $32, while multiple analysts also lifted price targets, reflecting confidence in continued AI-driven memory demand.

Micron Technology (NASDAQ:MU - Get Free Report) had its price target raised by investment analysts at Citigroup from $1,200.00 to $1,400.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor manufacturer's stock. Citigroup's price target points to a potential upside of 16.53% from the stock's current price.

MU has been the subject of a number of other research reports. DA Davidson upped their price target on Micron Technology from $1,500.00 to $2,000.00 and gave the company a "buy" rating in a research report on Thursday. Needham & Company LLC raised their price target on Micron Technology from $1,550.00 to $1,650.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Micron Technology from $1,050.00 to $1,200.00 and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Micron Technology from $900.00 to $1,100.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, TD Cowen upped their price objective on shares of Micron Technology from $1,500.00 to $1,600.00 and gave the stock a "buy" rating in a report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $1,184.13.

Micron Technology Trading Up 14.6%

MU traded up $152.89 during trading on Thursday, hitting $1,201.40. 67,349,068 shares of the stock traded hands, compared to its average volume of 45,275,121. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 56.91 and a beta of 2.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a 50-day moving average of $788.74 and a 200 day moving average of $513.50. Micron Technology has a 12-month low of $103.38 and a 12-month high of $1,255.00.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $20.98 by $4.13. The business had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company's revenue was up 345.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Equities research analysts anticipate that Micron Technology will post 60.34 EPS for the current year.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 37,439 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the completion of the transaction, the chief executive officer owned 387,064 shares of the company's stock, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the sale, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 146,000 shares of company stock valued at $85,486,715. Company insiders own 0.24% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. High Note Wealth LLC boosted its position in shares of Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 71 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Micron Technology during the first quarter valued at $27,000. Steigerwald Gordon & Koch Inc. boosted its holdings in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Finally, Bayban bought a new stake in Micron Technology in the fourth quarter worth $29,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology News Roundup

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

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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