TD Cowen Issues Positive Forecast for Micron Technology (NASDAQ:MU) Stock Price

Key Points

• TD Cowen raised its price target on Micron Technology to $1,600 from $1,500 and kept a buy rating, implying about 36% upside from the prior close.
• Micron’s latest earnings beat expectations by a wide margin, posting $25.11 EPS on $41.46 billion in revenue, with sales surging 345.8% year over year amid strong AI-related demand.
• The company issued a very bullish outlook, guiding Q4 revenue to roughly $49 billion to $51 billion and EPS to $30 to $32, reinforcing expectations that tight memory supply and AI demand remain strong.

Micron Technology (NASDAQ:MU - Get Free Report) had its target price raised by analysts at TD Cowen from $1,500.00 to $1,600.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor manufacturer's stock. TD Cowen's target price would indicate a potential upside of 36.26% from the company's previous close.

Several other research firms have also commented on MU. Summit Insights lowered Micron Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 19th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. Rosenblatt Securities boosted their target price on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the company a "buy" rating in a research note on Thursday. Stifel Nicolaus increased their price target on shares of Micron Technology from $550.00 to $1,500.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Finally, Wedbush raised their price target on shares of Micron Technology from $500.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. Five research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $1,109.80.

Micron Technology Stock Performance

Shares of MU stock traded up $125.67 on Thursday, hitting $1,174.18. The company had a trading volume of 33,587,203 shares, compared to its average volume of 44,942,859. The firm has a market cap of $1.32 trillion, a P/E ratio of 54.85 and a beta of 2.16. The company has a 50-day moving average price of $788.74 and a 200-day moving average price of $513.50. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology has a twelve month low of $103.38 and a twelve month high of $1,255.00.

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

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a filing with the SEC, 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 sale, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 146,000 shares of company stock worth $85,486,715. Corporate insiders own 0.24% of the company's stock.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC increased its stake in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after buying an additional 976 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Micron Technology by 21.7% in the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock worth $435,000 after acquiring an additional 628 shares during the last quarter. United Bank acquired a new stake in shares of Micron Technology in the second quarter worth approximately $236,000. Schnieders Capital Management LLC. increased its position in shares of Micron Technology by 67.9% during the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock worth $2,093,000 after purchasing an additional 6,867 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock worth $49,987,000 after purchasing an additional 21,619 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology News Summary

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

• Positive Sentiment: Micron reported fiscal Q3 EPS of $25.11 and revenue of $41.46 billion, both well above estimates, with revenue up sharply from a year ago on surging AI-related demand. Article Title
• Positive Sentiment: The company gave a very bullish Q4 outlook, with revenue guidance of roughly $49 billion to $51 billion and EPS guidance of $30 to $32, signaling that AI-driven memory demand remains exceptionally strong. Article Title
• Positive Sentiment: Micron said customers have committed billions of dollars years in advance for future memory supply, reinforcing the idea that the company has pricing power and unusually tight supply conditions. Article Title
• Positive Sentiment: The strong report also lifted chipmakers worldwide, with investors viewing Micron’s results as evidence that the broader AI infrastructure boom is still intact. Article Title
• Neutral Sentiment: Micron also declared a quarterly dividend, but the payout is small and is unlikely to materially affect the stock’s near-term move. Article Title

Micron Technology Company Profile

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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