Citi Raises Micron Price Target to $1,300 on Stronger DRAM Pricing

โดย 24/7 Wall St.·US·Read original
Summary · why it matters

Citi analyst Atif Malik raised his price target on Micron Technology to $1,300 from $1,150 while keeping a buy rating, citing better than expected DRAM pricing and continued supply tightness heading into fiscal Q4. Malik also lifted his August and November quarter estimates and said he expects the stock to rally into SEMICON West as equipment makers highlight DRAM shortages. On Micron's fiscal Q3 call, CEO Sanjay Mehrotra said DRAM and NAND industry demand continues to significantly exceed industry supply and that tight conditions should persist beyond calendar 2027, with fiscal Q3 DRAM prices up in the low 60s percentage range and NAND prices up in the mid-80s percentage range. Micron has signed 16 Strategic Customer Agreements, typically five-year take-or-pay deals running through calendar 2030, and for 14 of the 16 the cumulative minimum-price revenue is approximately $100 billion, backed by $22 billion in cash deposits and letters of credit. The stock trades around $1,075.72, up 277.14% year to date, at a forward PE of 7, while consensus fiscal 2027 EPS has climbed to $156.53 from $117.86 ninety days ago, leaving Citi's $1,300 target below the Street average of $1,515.

Impact on assets 2

Semiconductors▲ · 1 stocks
Micron Technology Inc
MU
▲ PositiveCapitalDemandrelevance

Citi raised its Micron price target to $1,300 from $1,150 on stronger DRAM pricing and lifted quarterly estimates.

Digital Finance & Tokenization▲ · 1 stocks

Theme Impact 2

Related news

▲2

Intel Can Fill Only Half of CPU Orders, CEO Lip-Bu Tan Says

Intel Corporation can supply only about half of the processor demand its customers are asking for, chief executive Lip-Bu Tan said at Splunk's .conf26 conference in Denver this month, adding that other chief executives have called him asking for more chips and that he has had to apologize. The company has pointed to constraints across leading-edge wafers, memory and substrates, and its latest quarterly report lists industry-wide substrate and memory shortages among the risks to its supply chain. In May of this year, Tan said Intel had asked customers adopting its advanced packaging to help prepay Taiwanese and Japanese suppliers to secure capacity, with four suppliers in Taiwan and two in Japan seeking upfront commitments. Intel's second quarter revenue reached $16.1 billion, comfortably above the midpoint of its own guidance, and the stock rose 12% on September 21 in a broad rally across chip stocks. The number to watch when Intel reports in October is whether shipments actually rise, because that is the only place the unmet demand can show up as revenue.
INTC ▲
Semiconductors ▲
Insider Monkey·52mRead more →
▲2

Micron Trades at 7x Forward Earnings Ahead of September 30 Report

Micron Technology heads into its September 30 earnings report with 16 Strategic Customer Agreements representing roughly $100 billion in cumulative minimum-price contracted AI revenue. The company has already shipped more than $1 billion in HBM4 revenue, and management said the HBM4 12-high volume ramp is tracking twice as fast as HBM3E 12-high, while Cloud Memory alone generated $13.77 billion last quarter. Guidance for the fiscal fourth quarter calls for revenue of $50.0 billion plus or minus $1.0 billion, non-GAAP gross margin of about 86%, and non-GAAP EPS of $31.00 plus or minus $1.00. The stock is up 276.99% year to date at $1,075.31, with a market cap near $1.21 trillion, a forward P/E of 7 against a trailing P/E of 24, and a PEG ratio of 0.15, based on fiscal 2027 consensus EPS of $156.53. Analysts show 44 Buy ratings, 4 Holds, and zero Sells, with a target price of $1,515, while capex reached $7.83 billion last quarter and the balance sheet holds $24.995 billion in cash.
MU ▲
Semiconductors ▲Artificial Intelligence ▲
24/7 Wall St.·3hRead more →
▼4

Michael Burry Adds to Micron Short, Warns on Memory Shortage

Michael Burry is doubling down against some of the market's hottest AI and semiconductor trades, adding size to short positions in Micron Technology, Nebius Group, Palantir Technologies and the iShares Semiconductor ETF. In a September 22 Substack post, the famed investor said his concern is increasingly focused on whether today's semiconductor shortages, AI enthusiasm and elevated valuations can persist, with Micron at the center of that argument. Burry highlighted comments from Acer CEO Jason Chen questioning expectations for a prolonged memory shortage; Chen acknowledged shortages in some products, including LPDDR5 and DDR5 9600, but said DDR4 currently has more sellers than buyers, remarks Burry said align with his own view. Burry also described the Nasdaq 100 as historically overvalued and historically top-heavy as the index approached another record, while increasing bearish exposure to Palantir, Nebius and semiconductors broadly. He is not simply retreating from equities, however, having added to positions in QXO, Build-A-Bear Workshop, Sprouts Farmers Market, Birkenstock and MercadoLibre after what he described as tremendous corrections, and now considers all five full positions with rather attractive prices.
2353.TWBBWBIRKMELIMUNBIS+3
Artificial Intelligence Semiconductors ▼
GuruFocus·3hRead more →
© 2026 MarketDXNews