Top Wall Street Forecasters Revamp Micron Expectations Ahead Of Q4 Earnings

Core Insights - Micron Technology, Inc. is set to release its fourth-quarter earnings on September 23, with analysts expecting earnings of $2.86 per share, a significant increase from $1.18 per share in the same quarter last year [1] - The company projects quarterly revenue of $11.11 billion, up from $7.75 billion a year earlier [1] Financial Performance - In the third quarter, Micron reported earnings per share of $35.36, which fell short of the analyst consensus estimate of $37.17 [2] - Quarterly sales reached $4.46 billion, reflecting a year-over-year increase of 5.4%, surpassing the expected $4.35 billion [2] - The company experienced a 3.2% growth in same-store sales, driven by strength in the domestic segment [2] Analyst Ratings and Price Targets - Susquehanna analyst Mehdi Hosseini maintained a Positive rating and raised the price target from $160 to $200 [8] - Wolfe Research analyst Chris Caso maintained an Outperform rating and increased the price target from $160 to $180 [8] - Mizuho analyst Vijay Rakesh maintained an Outperform rating and boosted the price target from $155 to $182 [8] - UBS analyst Timothy Arcuri maintained a Buy rating and raised the price target from $155 to $185 [8] - Citigroup analyst Christopher Danely maintained a Buy rating and increased the price target from $150 to $175 [8]