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Investing.com - Bernstein SocGen Group maintained its outperform rating and $140 price target on Micron Technology (NASDAQ:MU) stock Thursday. The semiconductor giant, currently trading at $125.42, has analyst targets ranging from $60 to $200, according to InvestingPro data.
The firm cited Micron’s better-than-expected performance in high-bandwidth memory (HBM), noting that HBM remains sold out for calendar year 2025. Micron’s fiscal third-quarter revenue grew nearly 50% quarter-over-quarter to over $1.5 billion, exceeding Bernstein’s projections. This strong performance contributes to the company’s impressive 58.22% revenue growth over the last twelve months, reaching $33.81 billion.
Micron now expects to reach its target market share in the second half of calendar year 2025, earlier than its previous guidance of year-end 2025. The company anticipates strong bit growth for calendar year 2026, though specific details remain pending as customers finalize their platform transitions.
Bernstein noted that HBM4 average selling prices should increase due to larger die sizes and trade ratios, while delivering improved performance. The firm’s baseline assumption is that all three major suppliers will participate in the HBM market next year.
Micron stock has gained approximately 50% year-to-date, outperforming the broader semiconductor sector as artificial intelligence applications continue driving demand for high-performance memory solutions. InvestingPro analysis shows the company maintains excellent financial health with a GREAT overall score, suggesting strong fundamentals supporting this rally. Get access to 13 additional exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, Micron Technology has reported better-than-expected fiscal third-quarter results, leading to an optimistic fourth-quarter outlook. This performance has prompted several research firms to adjust their price targets for the company. CFRA raised its price target to $155, citing Micron’s growing exposure to high-bandwidth memory (HBM) and expected gross margin expansion. Stifel increased its price target to $145, pointing to strong datacenter demand and improved product mix as positive factors. Additionally, Baird and Rosenblatt both raised their targets to $200, highlighting Micron’s strategic positioning in AI-driven markets and its strong growth outlook in HBM and DRAM segments.
Micron has also unveiled its 9th-generation QLC SSD, the 2600 NVMe SSD, which boasts performance comparable to TLC drives. The new product, aimed at OEM clients, features Adaptive Write Technology for enhanced write speeds. This development comes as the company continues to focus on expanding its U.S. production capabilities, particularly in HBM, to maintain a competitive edge. These recent developments reflect Micron’s ongoing efforts to capitalize on the increasing demand for memory solutions in artificial intelligence and data center applications.
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