What's Going On With Micron Stock Thursday?

Micron Technology Inc MU shares are in the spotlight Thursday following the company’s fiscal third-quarter results. Multiple analysts boosted price targets following the print.

What Happened: Micron beat analyst estimates on the top and bottom lines in the third quarter, posting revenue of $9.3 billion versus estimates of $8.87 billion, and adjusted earnings per share of $1.91 versus estimates of $1.60, per Benzinga Pro.

Total revenue was up close to 16% as DRAM revenue climbed to an all-time high and HBM revenue increased nearly 50% sequentially. Micron said data center revenue more than doubled year-over-year and highlighted growing AI-driven memory demand.

Micron guided for fourth-quarter revenue of $10.7 billion at the midpoint versus estimates of $9.88 billion, and adjusted earnings at the midpoint of $2.50 per share, versus estimates of $2.01 per share.

“We are on track to deliver record revenue with solid profitability and free cash flow in fiscal 2025,” said Sanjay Mehrotra, president and CEO of Micron.

Following the company’s quarterly results, Rosenblatt maintained a Buy and raised its price target to $200. Needham maintained a Buy and raised its target to $150, JPMorgan maintained an Overweight and lifted its target to $165 and BofA Securities stuck with a Neutral rating and raised its target to $140.

Thursday morning, Micron announced the Micron 2600 NVMe SSD, which it said achieves up to 63% faster sequential write and 49% faster random write speeds than competing value QLC and TLC SSDs.

“This Micron innovation milestone allows for broader commercial adoption of QLC NAND,” said Mark Montierth, corporate vice president and general manager of the Mobile and Client Business Unit at Micron.

MU Price Action: Micron shares were down 0.63% at $126.42 at the time of publication Thursday, although well off the highs made in Wednesday’s after-hours session.

Mehrotra said on the earnings call late Wednesday that the company may have experienced “some tariff-related pull-ins by certain customers,” which appears to be the reason shares pared some of their gains.

The stock has gained approximately 51% since the start of the year, according to Benzinga Pro.

Read Next:

• Micron CEO Cautions AI Boom May Not Be Fully Sustainable, Flags Tariff-Driven Demand Pull-In

Photo: courtesy of Micron.