Micron Technology (NASDAQ:MU) Issues Earnings Results, Beats Estimates By $3.72 EPS

Micron Technology (NASDAQ:MU) posted its quarterly earnings results on Wednesday. The semiconductor manufacturer reported $25.11 EPS for the quarter, beating the consensus estimate of $21.39 by $3.72, FiscalAI reports. The company had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. Micron Technology had a net margin of 55.91% and a return on equity of 82.33%. The firm’s revenue was up 345.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.91 earnings per share. Micron Technology updated its Q4 2026 guidance to 30.000-32.000 EPS.

Here are the key takeaways from Micron Technology’s conference call:

• Micron reported record fiscal Q3 results, with revenue of $41.5 billion, gross margin of 84.9%, and EPS of $25.11 all above the high end of guidance. The company also guided fiscal Q4 revenue to another record $50 billion, plus or minus $1 billion.
• The company said it has signed 16 strategic customer agreements (SCAs) covering data center, consumer, auto, and other markets, which it believes will transform its business model. Management said these agreements represent about 20% of DRAM volume and one-third of NAND volume over the period, with roughly $22 billion in deposits and financial commitments tied to them.
• Micron emphasized that AI-driven demand is keeping DRAM and NAND supply tight and expects those conditions to persist beyond calendar 2027. Management said supply growth is structurally constrained by long fab build times, complex technology transitions, and HBM’s increasing wafer intensity.
• Technology execution remains strong, with 1-gamma DRAM and G9 NAND ramping well and HBM4 volume ramping faster than HBM3E, including over $1 billion in HBM4 revenue already shipped. Micron also said its next-generation DRAM and NAND nodes remain on track for volume production in the second half of calendar 2027.
• Micron is expanding capacity through major fab investments in Idaho, New York, Taiwan, Japan, Singapore, and Virginia, while keeping capital spending disciplined. It plans fiscal Q4 capex of about $10 billion and said it intends to increase capital returns beginning after the December 2026 CHIPS-related milestone.

Micron Technology Price Performance

Micron Technology stock opened at $1,213.56 on Friday. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 27.47 and a beta of 2.16. The company’s fifty day moving average price is $803.70 and its 200 day moving average price is $520.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology has a 1 year low of $103.38 and a 1 year high of $1,255.00.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Monday, July 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.0%. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Analyst Ratings Changes

A number of analysts have recently commented on MU shares. Wedbush upped their target price on Micron Technology from $1,300.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group lifted their price target on Micron Technology from $535.00 to $1,625.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings restated a “buy (b)” rating on shares of Micron Technology in a research report on Tuesday, May 12th. Cantor Fitzgerald raised their price objective on shares of Micron Technology from $700.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Finally, Mizuho lifted their target price on shares of Micron Technology from $1,150.00 to $1,375.00 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 given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $1,228.30.

Insider Activity at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the 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 transaction, the director directly owned 17,139 shares of the company’s stock, valued at $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at $227,643,978.78. This represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 146,000 shares of company stock valued at $85,486,715. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MU. AQR Capital Management LLC raised its stake in Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after purchasing an additional 2,918,535 shares during the last quarter. Amundi grew its holdings in shares of Micron Technology by 65.0% during the fourth quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock worth $1,424,025,000 after buying an additional 1,965,319 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Micron Technology by 151.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,011,143 shares of the semiconductor manufacturer’s stock valued at $859,411,000 after buying an additional 1,811,607 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Micron Technology by 1,064.3% in the third quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after buying an additional 1,192,433 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in shares of Micron Technology by 50.2% in the second quarter. Orbis Allan Gray Ltd now owns 3,457,726 shares of the semiconductor manufacturer’s stock worth $426,165,000 after buying an additional 1,156,086 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Micron reported record Q3 revenue of $41.46 billion and adjusted EPS of $25.11, far above estimates, showing explosive demand for AI-related memory chips.
• Positive Sentiment: Management issued very strong Q4 guidance, signaling that tight memory supply and strong pricing power could continue into the next quarter.
• Positive Sentiment: The company highlighted $22 billion of customer commitments and long-term strategic agreements, which improve visibility and reduce the old boom-bust narrative around memory chips.
• Positive Sentiment: Analysts responded with multiple target hikes and bullish ratings, reinforcing confidence that Micron is becoming a core AI infrastructure beneficiary.
• Positive Sentiment: Micron’s results also lifted the broader chip sector, with other memory and semiconductor stocks rallying on the view that AI memory demand remains very strong.

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.