Micron Technology (NASDAQ:MU) Releases Quarterly Earnings Results, Beats Expectations By $1.01 EPS

Micron Technology (NASDAQ:MU) issued its quarterly earnings data on Wednesday. The semiconductor manufacturer reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $1.01, FiscalAI reports. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $12.62 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. Micron Technology’s revenue was up 56.7% compared to the same quarter last year. During the same period last year, the company posted $1.79 earnings per share. Micron Technology updated its Q2 2026 guidance to 8.220-8.620 EPS.

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

• Micron reported a powerful fiscal Q1 — record revenue of $13.6B, 56.8% gross margin, $4.78 EPS — and guided a record fiscal Q2 ($18.7B revenue, ~68% gross margin, ~$8.42 EPS), signaling strong near-term profitability.
• Management said HBM demand is surging, completed 2026 HBM price/volume agreements (including HBM4), and raised the HBM TAM to ~$100B by 2028 at ~40% CAGR, accelerating Micron’s AI-facing growth opportunity.
• The company expects industry-wide tightness — DRAM and NAND supply will remain substantially short of demand through and beyond 2026 — and admits it cannot meet all customer demand across segments.
• Micron is increasing fiscal 2026 CapEx to ~$20B, accelerating equipment orders and advancing fab timelines (Idaho wafer output moved to mid‑2027) to expand HBM and 1‑gamma DRAM capacity.
• Cash generation and balance sheet improvements were notable — record quarterly free cash flow (~$3.9B), reduced debt by $2.7B, returned to net cash, and executed $300M buybacks — supporting financial flexibility.

Micron Technology Stock Performance

Shares of MU stock opened at $225.52 on Thursday. The company has a market capitalization of $253.51 billion, a P/E ratio of 29.71, a P/E/G ratio of 0.34 and a beta of 1.54. Micron Technology has a 12-month low of $61.54 and a 12-month high of $264.75. The business’s 50 day moving average is $225.54 and its two-hundred day moving average is $162.83. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Monday, December 29th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, December 29th. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s dividend payout ratio is currently 6.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MU shares. CLSA initiated coverage on shares of Micron Technology in a report on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Bank of America increased their price target on Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Piper Sandler boosted their price target on Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Wall Street Zen raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 23rd. Finally, KeyCorp lifted their target price on shares of Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $254.93.

Insiders Place Their Bets

In other Micron Technology news, EVP Scott J. Deboer sold 82,000 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the transaction, the executive vice president directly owned 154,145 shares of the company’s stock, valued at $34,345,047.45. This trade represents a 34.72% 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, CFO Mark J. Murphy sold 126,000 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $225.31, for a total transaction of $28,389,060.00. Following the sale, the chief financial officer directly owned 219,693 shares of the company’s stock, valued at $49,499,029.83. This represents a 36.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 383,650 shares of company stock worth $81,602,339. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently bought and sold shares of the company. Osterweis Capital Management Inc. lifted its position 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 acquiring an additional 150 shares in the last quarter. Strive Asset Management LLC purchased a new position in Micron Technology in the 3rd quarter valued at $39,000. WealthCollab LLC grew its holdings in shares of Micron Technology by 4,500.0% during the second quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 270 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of Micron Technology by 57.0% in the third quarter. Johnson Financial Group Inc. now owns 1,011 shares of the semiconductor manufacturer’s stock valued at $169,000 after buying an additional 367 shares during the last quarter. Finally, Adalta Capital Management LLC purchased a new position in shares of Micron Technology in the third quarter worth about $176,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.