Micron Technology (NASDAQ:MU) Releases Quarterly Earnings Results, Beats Estimates By $1.70 EPS

Micron Technology (NASDAQ:MU) issued its quarterly earnings data on Wednesday. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $31.72 by $1.70, Briefing.com reports. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. During the same quarter in the prior year, the business posted $3.03 earnings per share. The business’s revenue was up 379.1% on a year-over-year basis. Micron Technology updated its Q1 2027 guidance to 37.150-39.150 EPS.

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

• Record fiscal Q4 results: Revenue reached $54.2 billion, up 31% sequentially, while gross margin was 87% and non-GAAP EPS was $33.42, all exceeding the high end of guidance.
• Management expects fiscal 2027 to be stronger than fiscal 2026, with sequential revenue growth each quarter and gross margin expected to rise after fiscal Q1. It cited sustained AI-driven demand and supply constraints through calendar 2027 and 2028.
• AI-related products are accelerating, with HBM revenue growing faster than company revenue and most 2027 HBM supply already contracted at significantly higher prices. Data center SSD revenue also exceeded $10 billion in fiscal Q4, more than 10 times the year-earlier level.
• Micron has signed 26 strategic customer agreements representing an estimated 35% of revenue through 2030, with $32 billion in customer financial commitments and approximately $150 billion in remaining performance obligations.
• Micron plans to increase fiscal 2027 capital spending, particularly construction investment, while operating expenses are projected to rise by approximately $2.5 billion. Fiscal Q1 gross margin is expected to be about 86.25%, pressured by roughly $1 billion in higher costs including incentive compensation and startup expenses.

Micron Technology Stock Up 0.0%

NASDAQ:MU traded up $0.03 during midday trading on Wednesday, reaching $1,065.11. 30,182,194 shares of the stock traded hands, compared to its average volume of 23,442,156. Micron Technology has a 12-month low of $165.50 and a 12-month high of $1,255.00. The business has a 50-day moving average of $952.75 and a two-hundred day moving average of $814.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. The stock has a market capitalization of $1.20 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 0.67 and a beta of 2.22.

Micron Technology News Roundup

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

• Positive Sentiment: Micron reported record fiscal Q4 revenue of $54.23 billion, up 379% year over year, while adjusted EPS reached approximately $33.42 versus the $31.61-$31.72 consensus range. Gross margin also surged to about 87%, reflecting strong pricing power. Micron beats on revenue and earnings as global memory shortage continues
• Positive Sentiment: Fiscal Q1 2027 guidance exceeded expectations: revenue is projected at $60 billion-$63 billion versus roughly $57.2 billion expected, and EPS at $37.15-$39.15 versus about $35.36 expected. Management expects AI infrastructure demand and tight memory supply to support continued growth. Micron forecasts quarterly revenue above estimates
• Positive Sentiment: Longer-term visibility improved through 26 strategic customer agreements covering more than 35% of estimated revenue through 2030, alongside $32 billion in customer financial commitments. Management anticipates supply-demand tightness through 2027-2028, potentially making the memory cycle more durable than prior cycles. Micron Q4 2026: These Numbers Don’t Look Real
• Neutral Sentiment: The results reinforce Micron’s position as the only U.S.-based producer of high-bandwidth memory used in AI systems, but the stock has already experienced a dramatic rally. Investors may therefore demand further earnings and margin upgrades to sustain momentum.
• Negative Sentiment: Potential risks include moderating DRAM pricing outside AI applications, increasing non-HBM supply from China, and concerns that Micron’s highly cyclical memory market could eventually normalize. Netlist also filed a complaint seeking a U.S. import ban on certain Micron chips used in AI products, creating a legal overhang. Netlist seeks U.S. import ban on Micron chips

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total value of $14,014,350.00. Following the transaction, the executive vice president directly owned 191,021 shares of the company’s stock, valued at $178,469,010.09. This represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Scott R. Allen sold 879 shares of Micron Technology stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $1,000.00, for a total value of $879,000.00. Following the sale, the chief accounting officer directly owned 34,958 shares of the company’s stock, valued at approximately $34,958,000. This represents a 2.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 95,879 shares of company stock worth $90,939,466. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on MU shares. The Goldman Sachs Group upped their price target on Micron Technology from $900.00 to $1,100.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Barclays lifted their target price on Micron Technology from $1,175.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. TD Cowen reissued a “buy” rating and issued a $1,600.00 target price (up from $1,500.00) on shares of Micron Technology in a report on Wednesday, September 16th. HSBC increased their price objective on shares of Micron Technology from $1,100.00 to $1,700.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, Arete Research increased their price target on Micron Technology from $852.00 to $1,500.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,348.03.

Micron Technology Company Profile

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, three-dimensional XPoint-related technologies, solid-state drives, and high-bandwidth memory products designed for demanding computing applications.

The company serves customers across the data center, artificial intelligence, networking, automotive, industrial, mobile, consumer electronics, and embedded markets.