Micron Technology Inc (NASDAQ:MU) stock is trending on Wednesday on the heels of the company’s quarterly results. Multiple analysts also lifted price targets following the print. Here’s what you need to know.
What To Know: Micron beat analyst estimates on the top and bottom lines in the fourth quarter, reporting revenue of $11.32 billion versus estimates of $11.22 billion, and adjusted earnings per share of $3.03 versus estimates of $2.86.
The company generated $5.73 billion of operating cash flow and $803 million of free cash flow during the quarter. Micron ended the period with $11.94 billion in cash, marketable investments and restricted cash.
Micron guided for first-quarter revenue of $12.5 billion, plus or minus $300 million, versus estimates of $11.93 billion, according to Benzinga Pro. The company also sees first-quarter adjusted earnings of $3.60 to $3.90 per share versus estimates of $3.04 per share.
“Micron closed out a record-breaking fiscal year with exceptional Q4 performance … and are entering fiscal 2026 with strong momentum and our most competitive portfolio to date,” said Sanjay Mehrotra, president and CEO of Micron.
Mehrotra said on an earnings call that he expects trillions of dollars to be invested in AI over the coming years. He noted that a “significant portion” of that spend is expected to be focused on memory.
“As the only U.S.-based memory manufacturer, Micron is uniquely positioned to capitalize on the AI opportunity ahead," Mehrotra said.
Analysts React: Several analysts raised price targets on Micron following the company’s quarterly results.
- Needham analyst N. Quinn Bolton maintained a Buy and raised the price target from $150 to $200.
- Rosenblatt analyst Kevin Cassidy maintained a Buy and raised the price target from $200 to $250.
- Keybanc analyst John Vinh maintained an Overweight and raised the price target from $160 to $215.
- BofA Securities analyst Vivek Arya maintained a Neutral and raised the price target from $140 to $180.
- JPMorgan analyst Harlan Sur maintained an Overweight and raised the price target from $185 to $220.
MU Price Action: Micron shares were down 2.43% at $162.38 at the time of publication Wednesday, according to Benzinga Pro. Micron has a 52-week high of $170.45 and a 52-week low of $61.54.
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