What Wall Street Analysts Think About Micron’s Stock Ahead of Earnings

On By Littum

Key takeaways

  • Micron Technology is scheduled to report earnings after the market closes on Wednesday.
  • All but one of the analysts who follow Micron and are tracked by Visible Alpha have a “buy” or equivalent rating on the chip maker.
  • Analysts expect Micron to swing to a profit and revenue growth of 84% year-over-year.

Micron Technology ( MU ) is set to report fiscal 2025 first-quarter earnings after the market closes Wednesday, with analysts overwhelmingly bullish on the chipmaker’s stock.

All but one of the 15 analysts who follow the company and are tracked by Visible Alpha have a “buy” or equivalent rating on Micron, with a consensus price target of about $142 — a near 40% premium over Friday’s close of $102.50.

Wall Street expects Micron to report revenue of $8.72 billion, up 84% year-over-year, and for the company to swing to a profit of $1.84 billion, or $1.58 per share, compared to a loss of $1.23 billion or $1.12 per share for the year. previous.

Results Follow $6 Billion Federal Grant Award

The results come about a week after Micron was awarded a federal grant of up to $6.165 billion to manufacture semiconductors in the United States as part of the CHIPS and Science Act of 2022.

The Commerce Department said the money would support Micron’s “two-decade vision” to invest about $100 billion in New York state and $25 billion in Idaho for new factories that will create about 20,000 jobs.

Shares of Micron rose more than 4% on Friday and are up about 20% since the start of the year.