Micron Technology (MU) Stock Forecast & Price Target

$107.82

-1.26 (-1.16%)

(As of 10/22/2024 ET)

Micron Technology - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 27 Analyst Ratings

Sell
1

Hold
1

Buy
25

Based on 27 Wall Street analysts who have issued ratings for Micron Technology in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 27 analysts, 1 has given a sell rating, 1 has given a hold rating, and 25 have given a buy rating for MU.

Consensus Price Target

$142.85
32.49% Upside

According to the 27 analysts' twelve-month price targets for Micron Technology, the average price target is $142.85. The highest price target for MU is $250.00, while the lowest price target for MU is $67.00. The average price target represents a forecasted upside of 32.49% from the current price of $107.82.

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MU Analyst Ratings Over Time

Type	Current Forecast 10/24/23 to 10/23/24	1 Month Ago 9/24/23 to 9/23/24	3 Months Ago 7/26/23 to 7/25/24	1 Year Ago 10/24/22 to 10/24/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	25 Buy rating(s)	25 Buy rating(s)	25 Buy rating(s)	20 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)	5 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$142.85	$145.65	$158.72	$77.75
Forecasted Upside	32.49% Upside	55.66% Upside	47.72% Upside	14.22% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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MU Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

MU Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Micron Technology Stock vs. The Competition

Type	Micron Technology	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.89	2.67	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	32.49% Upside	1,035.97% Upside	7.97% Upside
News Sentiment Rating	Positive News See Recent MU News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/8/2024	KeyCorp 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$145.00 ➝ $135.00	+31.18%
10/1/2024	Cantor Fitzgerald 3 of 5 stars		Reiterated Rating	Overweight ➝ Overweight	$150.00 ➝ $150.00	+44.63%
9/27/2024	Robert W. Baird 2 of 5 stars		Lower Target	Outperform ➝ Outperform	$172.00 ➝ $150.00	+36.51%
9/26/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$225.00 ➝ $250.00	+129.61%
9/26/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$125.00 ➝ $140.00	+28.51%
9/26/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$110.00 ➝ $125.00	+15.38%
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9/26/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$100.00 ➝ $114.00	+2.93%
9/26/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$140.00 ➝ $140.00	+24.77%
9/26/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Positive ➝ Positive	$175.00 ➝ $165.00	+72.29%
9/26/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$115.00 ➝ $135.00	+40.96%
9/26/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$140.00 ➝ $140.00	+46.18%
9/19/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$165.00 ➝ $135.00	+50.84%
9/18/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$190.00 ➝ $175.00	+97.23%
9/17/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$175.00 ➝ $150.00	+68.27%
9/17/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$153.00 ➝ $135.00	+51.45%
9/12/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	K. Ackerman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Underperform	$140.00 ➝ $67.00	-26.09%
6/27/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$138.00 ➝ $158.00	+16.70%
6/27/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$130.00 ➝ $180.00	+32.95%
6/27/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$130.00 ➝ $150.00	+5.37%
6/21/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$150.00 ➝ $200.00	+40.68%
5/31/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$150.00 ➝ $155.00	+22.73%
5/13/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$120.00 ➝ $145.00	+18.11%
3/21/2024	Fox Advisors Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Equal Weight ➝ Overweight
3/21/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$140.00	+45.45%
12/21/2023	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$90.00 ➝ $100.00	+18.89%
12/21/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$85.00 ➝ $90.00	+14.37%
12/18/2023	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$80.00 ➝ $90.00	+10.85%
6/29/2023	VNET Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
6/29/2023	22nd Century Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
4/13/2023	New Street Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$75.00 ➝ $100.00	+60.69%
1/3/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Chris Caso Subscribe to MarketBeat All Access for the recommendation accuracy rating	Set Target		$66.00	+32.05%
12/22/2022	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$70.00 ➝ $66.00	+35.16%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 09:29 AM ET.

Should I Buy Micron Technology Stock? MU Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Saturday, October 12, 2024. Please send any questions or comments about these Micron Technology pros and cons to contact@marketbeat.com.

Micron Technology
Bull Case

Here are some ways that investors could benefit from investing in Micron Technology, Inc.:

Micron Technology, Inc. reported earnings per share of $1.18 for the quarter, beating the consensus estimate by $0.21. This indicates strong financial performance and potential for growth.
The company had revenue of $7.75 billion for the quarter, surpassing analyst estimates. This demonstrates robust sales and market demand for Micron Technology's products.
Micron Technology's revenue was up 93.3% compared to the same quarter last year, showcasing significant growth in a competitive market.
The current stock price of Micron Technology, Inc. is trading at $99.85, which may present a buying opportunity for investors looking to enter at a relatively lower price point.
Equities research analysts anticipate that Micron Technology, Inc. will post earnings per share of $0.61 for the current year, indicating positive future outlook and potential returns for investors.

Micron Technology
Bear Case

Investors should be bearish about investing in Micron Technology, Inc. for these reasons:

Micron Technology, Inc. had a negative return on equity of 4.01% and a negative net margin of 7.20%, indicating potential financial challenges and lower profitability compared to industry peers.
The company's payout ratio is currently -32.39%, which suggests that the dividend payment may not be sustainable in the long term, raising concerns for income-oriented investors.
Corporate insiders own only 0.32% of the company's stock, potentially signaling limited confidence from internal stakeholders in the company's future performance.
Hedge funds and institutional investors own a significant portion (80.84%) of Micron Technology's stock, which could lead to increased volatility and influence on stock price movements.
While the company has shown growth, the beta of 1.17 indicates that Micron Technology, Inc. may be more volatile compared to the overall market, posing risks for investors seeking stability.

MU Forecast - Frequently Asked Questions

: According to the research reports of 27 Wall Street equities research analysts, the average twelve-month stock price forecast for Micron Technology is $142.85, with a high forecast of $250.00 and a low forecast of $67.00.
: 27 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Micron Technology in the last year. There is currently 1 sell rating, 1 hold rating and 25 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" MU shares.
: According to analysts, Micron Technology's stock has a predicted upside of 32.49% based on their 12-month stock forecasts.
: Over the previous 90 days, Micron Technology's stock had 1 downgrade by analysts.
: Micron Technology has been rated by research analysts at Bank of America, BNP Paribas, Cantor Fitzgerald, Citigroup, KeyCorp, Morgan Stanley, Needham & Company LLC, Raymond James, Robert W. Baird, Rosenblatt Securities, Stifel Nicolaus, Susquehanna, TD Cowen, UBS Group, Wedbush, and Wells Fargo & Company in the past 90 days.
: Analysts like Micron Technology more than other "computer and technology" companies. The consensus rating score for Micron Technology is 2.89 while the average consensus rating score for "computer and technology" companies is 2.67. Learn more on how MU compares to other companies.