Shares of Micron Technology Inc (NASDAQ:MU) are modestly lower before the open, down 0.9% despite the semiconductor giant's blowout fiscal fourth-quarter earnings and revenue beat. Adjusted earnings came in at $33.42 per share on revenue of $54.23 billion. CEO Sanjay Mehrotra warned that supply vs. memory demand in data centers would remain tight in the coming years, however.
MU yesterday wrapped up a positive month, but snapped a six-quarter win streak despite sporting a notable 273% gain for 2026. This marked the semiconductor's worst quarterly performance since December 2024, though the equity remains comfortably above the round $1,000 mark.
After the event, Mizuho and Rosenblatt Securities lifted their price targets to to $1,400 and $1,900, respectively. This bullish sentiment is nothing new, with the stock sporting an average 12-month price target of $1,473 and 36 of the 40 brokerages in coverage sporting a "buy" or "strong buy" recommendation.
