Semiconductor company Micron Technology (MU) is scheduled to announce its results for the fourth quarter of Fiscal 2025 on September 23. Ahead of the Q4 earnings, several top Wall Street analysts reaffirmed their Buy ratings on Micron stock, reflecting optimism about the demand backdrop for the company’s DRAM, NAND, and HBM (high-bandwidth memory) chips amid the ongoing artificial intelligence (AI) boom.
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Wall Street expects Micron to report adjusted earnings per share (EPS) of $2.78, reflecting a year-over-year growth of over 135%. Meanwhile, revenue is expected to increase by 43% to $11.12 billion.
Top Analysts Are Upbeat on Micron Stock
Heading into Q4 earnings, Wedbush analyst Matthew S. Bryson increased his price target for Micron stock to $200 from $165 and reiterated a Buy rating. The 5-star analyst stated that his revised price target reflects a P/E multiple of 10x based on his Fiscal 2027 EPS estimates.
Bryson contended that while this valuation multiple appears to be on the higher side compared to what we usually expect for memory companies at the peak of a cycle, his gross margin forecasts for NAND and DRAM are still well below the 2018 peak levels despite a boost from HBM business, leaving room for further upside.
Meanwhile, Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on Micron stock with a price target of $200. The top-rated analyst expects the company to deliver a modest beat relative to its August 11 pre-announcement, with a stronger upside to the Street’s estimates expected for the November quarter outlook. Mosesmann added that his bullish stance on Micron stock is backed by constrained DRAM and NAND Flash wafer supply through 2026, coupled with accelerating demand from AI workloads.
Mosesmann believes that demand for DRAM has already exceeded available supply. He also highlighted that the need for AI systems to store vast volumes of data is fueling the strength in storage markets. For the current up-cycle, the analyst expects gross margin of at least 55% in Q4 FY26, backed by $14.5 billion in revenue and EPS of $4.78. “MU remains our top long idea as the memory up-cycle accelerates into FY26,” said Mosesmann.
Is MU Stock a Good Buy Now?
Overall, Wall Street has a Strong Buy consensus rating on Micron stock based on 24 Buys and four Holds. The average MU stock price target of $158.12 indicates a possible downside of 6.3% from current levels.
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