These Analysts Raise Their Forecasts On Micron Technology Following Upbeat Q3 Results

Core Insights - Micron Technology Inc. reported third-quarter revenue of $9.3 billion, exceeding the consensus estimate of $8.87 billion, and adjusted earnings of $1.91 per share, surpassing analyst expectations of $1.60 per share [1][2] Financial Performance - The company achieved record revenue in the fiscal third quarter, driven by all-time-high DRAM revenue and nearly 50% sequential growth in HBM revenue [2] - Data center revenue more than doubled year-over-year, reaching a quarterly record, while consumer-oriented end markets experienced strong sequential growth [2] Future Outlook - Micron expects fourth-quarter revenue of $10.7 billion, with a variance of plus or minus $300 million, compared to estimates of $9.88 billion [3] - The company anticipates fourth-quarter adjusted earnings of $2.50 per share, with a variance of plus or minus 15 cents, against estimates of $2.01 per share [3] Stock Performance and Analyst Ratings - Following the earnings announcement, Micron shares fell 0.5% to close at $127.25 [3] - Analysts have adjusted their price targets for Micron, with Rosenblatt raising it from $172 to $200, Needham from $120 to $150, JP Morgan from $135 to $165, and B of A Securities from $84 to $140 [5]