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Tuesday, March 18, 2025 – Stifel analysts have reiterated their Buy rating on Micron Technology stock with a steady price target of $130.00. Currently trading at $103.11, Micron has demonstrated strong momentum with a 15.8% gain over the past week. According to InvestingPro data, analyst consensus is highly bullish, with price targets ranging from $70 to $250. As Micron Technology prepares to report its earnings this Thursday after the market closes, expectations are set for the company to align with Stifel’s and consensus estimates for the second fiscal quarter ending in February. The company, currently valued at $114.9 billion, has maintained strong financial health, earning a "GOOD" overall score from InvestingPro’s comprehensive analysis system.
The analysts at Stifel have adjusted their projections for Micron’s third fiscal quarter, which ends in May, to account for persistent softness in memory pricing and a shift in product mix that favors consumer memory over enterprise and hyperscaler memory products. This change reflects the company’s management’s previous statements about an anticipated decline in gross margins for the third fiscal quarter.
Despite these adjustments, the outlook for Micron Technology appears more positive looking further into the year. Stifel analysts point to improving NAND pricing starting in the second calendar quarter and have noted positive signals regarding memory demand, particularly from China. These factors contribute to a brighter forecast for the fourth fiscal quarter ending in August, where Micron is expected to see a re-acceleration of key profit and loss metrics due to more benign-to-favorable pricing, a seasonal and cyclical uptick in bit demand, and successful execution of its higher gross margin, High Bandwidth (NASDAQ:BAND) Memory (HBM) ramp.
The analysts also anticipate positive updates from Micron regarding the HBM ramp, suggesting that the company’s performance may strengthen as the year progresses. This projection aligns with the previously indicated market conditions and the company’s strategic initiatives.
Micron Technology, listed on NASDAQ as (NASDAQ:MU), will be closely watched by investors as it presents its earnings details later in the week, providing further insights into the company’s financial health and future prospects in the dynamic memory market. The company has shown impressive revenue growth of 79.8% over the last twelve months, with analysts expecting continued growth this year. For deeper insights into Micron’s valuation and growth prospects, including 8 additional exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Micron Technology has been the focus of various analyst updates and market developments. TD Cowen has maintained its Buy rating with a $125 price target, citing a cautious yet optimistic outlook for the memory chip sector, while also maintaining its earnings per share (EPS) estimate for the May quarter at $1.35. Citi analysts also reiterated their Buy rating and set a $150 price target, though they anticipate that Micron’s upcoming fiscal year 2025 second-quarter results might present weaker guidance due to a less favorable consumer mix and underutilization charges related to NAND. Despite these concerns, Citi remains optimistic about Micron’s potential in AI High Bandwidth Memory (HBM) and DRAM recovery, projecting an EPS for fiscal year 2026 that is significantly above consensus.
Raymond (NSE:RYMD) James has reaffirmed its positive outlook on Micron, maintaining an Outperform rating with a $120 price target. The firm adjusted its financial model following management’s comments about expected declines in gross margins due to a shift towards a more consumer-oriented product mix. However, Raymond James remains confident in Micron’s future, particularly with the potential of HBM, which they believe could extend the industry’s upcycle into 2026. In the broader market context, Micron gained 1.4% in premarket trading, alongside other chip stocks like Marvell (NASDAQ:MRVL) and Applied Materials (NASDAQ:AMAT), following Broadcom (NASDAQ:AVGO)’s optimistic forecast for AI chip production. Meanwhile, Tokyo Electron Limited (TEL) is poised to benefit from the expanding NAND wafer-to-wafer hybrid bonding market, with Micron expected to adopt this technology alongside other major manufacturers.
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