Micron price target raised to $160 from $150 at Wolfe Research

Investing.com - Wolfe Research raised its price target on Micron Technology (NASDAQ:MU) to $160 from $150 on Thursday, while maintaining an Outperform rating on the semiconductor company’s stock. The new target falls within the broader analyst range of $60 to $172, with InvestingPro data showing the stock has already delivered an impressive 42% return over the past six months.

The research firm cited expectations for a cyclical recovery in the semiconductor industry during the second half of 2025 and into calendar year 2026 as key factors behind the more optimistic outlook.

Wolfe Research noted that the industry "finally appears to be experiencing the cyclical improvement for which the bulls have been waiting for some time," according to its research note.

The firm’s new $160 price target is based on approximately 11 times its calendar year 2026 earnings per share estimate of $14.30 for Micron.

Wolfe Research also highlighted Micron’s participation in High Bandwidth (NASDAQ:BAND) Memory (HBM) growth as a significant driver that is pushing earnings projections higher for the memory chip manufacturer.

In other recent news, Micron Technology reported fiscal third-quarter results that surpassed expectations, leading to a series of analyst upgrades. Citi increased its price target for Micron to $150, citing strong earnings driven by robust NAND flash memory product performance. Stifel also raised its target to $145, pointing out the strengthening demand in data centers and a favorable product mix. Raymond (NSE:RYMD) James set a new price target of $150, highlighting Micron’s impressive High Bandwidth Memory (HBM) revenue growth and optimistic market share targets. Piper Sandler went further, raising their target to $165, attributing the increase to Micron’s strong quarter and favorable shifts in product mix, particularly in DRAM. KeyBanc adjusted its target to $160, noting Micron’s strong performance in the DRAM and HBM segments and positive fourth-quarter guidance. Analysts from these firms maintain positive ratings, reflecting confidence in Micron’s continued growth in artificial intelligence applications and data centers. The company’s improved gross margins and strategic positioning in high-performance computing sectors have been key drivers of these upgrades.

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