Micron Technology (NASDAQ:MU) Posts Quarterly Earnings Results, Beats Expectations By $4.13 EPS

Micron Technology (NASDAQ:MU) posted its earnings results on Wednesday. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, beating the consensus estimate of $20.98 by $4.13, FiscalAI reports. The business had revenue of $41.46 billion during 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 business’s quarterly revenue was up 345.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.91 EPS. 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 Trading Down 1.3%

Shares of Micron Technology stock opened at $1,037.93 on Thursday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.17 trillion, a price-to-earnings ratio of 49.01 and a beta of 2.16. Micron Technology has a 52-week low of $103.38 and a 52-week high of $1,213.56. The company’s 50-day simple moving average is $788.74 and its 200-day simple moving average is $513.50.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Monday, July 6th. Micron Technology’s payout ratio is 2.83%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 37,439 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 387,064 shares in the company, valued at approximately $371,728,524.32. The trade was a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 146,000 shares of company stock worth $85,486,715 over the last quarter. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC boosted its stake in shares of Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 270 shares in the last quarter. Osterweis Capital Management Inc. lifted its holdings in shares of Micron Technology by 205.5% in the third quarter. Osterweis Capital Management Inc. now owns 223 shares of the semiconductor manufacturer’s stock valued at $37,000 after purchasing an additional 150 shares in the last quarter. Wilkerson Advisory Group LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $37,000. Strive Financial Group LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $38,000. Finally, Strive Asset Management LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $39,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron posted record Q3 revenue of $41.46 billion and non-GAAP EPS of $25.11, far above Wall Street estimates, showing the AI memory boom is translating into explosive profitability.
• Positive Sentiment: The company guided Q4 EPS to $30-$32 and revenue to $49-$51 billion, well ahead of consensus, reinforcing confidence that demand is still accelerating.
• Positive Sentiment: Management said customers have committed roughly $22 billion in advance orders for future memory supply, signaling strong visibility and durable demand from AI infrastructure customers.
• Positive Sentiment: Analysts and market commentary turned more bullish after the report, with several price target hikes and notes suggesting Micron could be in a multi-year “sweet spot” for memory pricing and margins.

Analysts Set New Price Targets

MU has been the subject of a number of research reports. TD Cowen boosted their price objective on Micron Technology from $660.00 to $1,500.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Micron Technology from $1,000.00 to $1,500.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Royal Bank Of Canada set a $1,500.00 price target on shares of Micron Technology in a research report on Thursday. 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 report on Monday, June 8th. Finally, Needham & Company LLC lifted their price objective on shares of Micron Technology from $500.00 to $1,550.00 and gave the company a “buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Micron Technology has an average rating of “Buy” and a consensus price target of $1,084.80.

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.