Micron Technology, Inc. (MU) Stock Price & Analysis
Micron Technology, Inc. (MU) closed at USD 856.49 on Thursday, October 22, 2026, down 6.26% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 913.67; the Oct 22, 2026 session ranged USD 849.25–908.3 on volume of 31,922,936 shares. Market capitalization is $969.05B, with a 52-week range of USD 192.59–1,255 (NMS). Source: Nexqual, retrieved October 23, 2026 at 08:44 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MU.md
Latest Earnings Results (MU)
| Fiscal period | EPS (reported) | Revenue | Released | Source |
|---|---|---|---|---|
| Q4 2026 | $33.42 (adjusted (non-GAAP) diluted) | $54.23B | Oct 1, 2026, 12:02:22 AM ET | SEC 8-K filing |
| Q3 2026 | $25.11 (adjusted (non-GAAP) diluted) | $41.46B | Jun 24, 2026, 4:02:01 PM ET | SEC 8-K filing |
Reported actuals captured by Nexqual from SEC 8-K filings and company press releases; each figure confirmed by two independent extraction methods.
Key facts (MU)
- Last four reported quarters (through Sep 3, 2026): revenue $133B, net income $85.0B (63.8% margin), free cash flow $59.0B (SEC filings).
- Valuation: P/E 11.4x (avg 56.1x at the last 3 fiscal year-ends), EV/EBITDA 8.5x, net cash $40.2B.
- 5 of 80 tracked superinvestors hold MU (13F, Q2 2026): 2 new, 0 added, 2 reduced, 1 unchanged.
- Analysts: Buy (mean 1.94 on a 1–5 scale) (49 analysts), mean target USD 1,561.91 (range 361–3,000).
- Total return with dividends: 1Y +314.8% vs S&P 500 +14.9%; 5Y +1199.4% vs S&P 500 +80.3%.
- Next earnings: 2026-12-23, EPS estimate USD 38.28, revenue estimate $61.7B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MU)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $30.8B | $15.5B | $25.1B | $37.4B | $133B | $133B |
| Gross profit | $13.9B | -$1.42B | $5.61B | $14.9B | $108B | — |
| Operating income | $9.70B | -$5.75B | $1.30B | $9.77B | $99.3B | $99.3B |
| Net income | $8.69B | -$5.83B | $778M | $8.54B | $85.0B | $85.0B |
| EPS (diluted) | $7.75 | -$5.34 | $0.70 | $7.59 | $74.33 | — |
| Free cash flow | $3.11B | -$6.12B | $121M | $1.67B | $59.0B | $59.0B |
| Gross margin | 45.2% | -9.1% | 22.4% | 39.8% | 80.7% | — |
| Operating margin | 31.5% | -37.0% | 5.2% | 26.1% | 74.6% | 74.6% |
| Net margin | 28.2% | -37.5% | 3.1% | 22.8% | 63.8% | 63.8% |
| Revenue growth | +11.0% | -49.5% | +61.6% | +48.9% | +256.3% | — |
| Cash + short-term investments | $9.33B | $9.59B | $8.11B | $10.3B | $43.4B | — |
| Total debt | $6.12B | $12.3B | $11.8B | $12.1B | $3.28B | — |
Fiscal years end Sep. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 3, 2026) (MU)
P/E 11.4x · P/S 7.3x · EV/EBITDA 8.5x · EV/Sales 7.0x · P/FCF 16.4x · P/B 7.0x · FCF yield 6.08% · Earnings yield 8.77% · Dividend yield (paid, TTM) 0.06% · Buyback yield (TTM) 0.07% · Net cash $40.2B · EV $929B
P/E at fiscal year-ends: Sep 2026 14.3x, Aug 2025 15.7x, Aug 2024 138.3x.
Superinvestors (SEC 13F-HR, Q2 2026) (MU)
5 of 80 tracked investors hold MU. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Tepper | Appaloosa Management | 15.06% | $1.13B | Reduced -41.4% |
| Ruane Cunniff | Ruane Cunniff LP | 0.04% | $2.5M | Unchanged |
| Lee Ainslie | Maverick Capital | 0.02% | $1.9M | New position |
| Bill Nygren | Oakmark Funds | <0.01% | $208K | New position |
| Mairs & Power | Mairs & Power Funds | <0.01% | $473K | Reduced -40.8% |
Analysts (MU)
Consensus Buy (mean 1.94 on a 1–5 scale), 49 analysts; mean target USD 1,561.91 (low 361, high 3,000).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Rosenblatt | Maintained | Buy | $1900 |
| 2026-10-22 | Needham | Reiterated | Buy | $1650 |
| 2026-10-13 | Rosenblatt | Maintained | Buy | $1900 |
| 2026-10-07 | DA Davidson | Target raised | Buy | $2100 → $3000 |
| 2026-10-01 | Mizuho | Target raised | Outperform | $1300 → $1400 |
| 2026-10-01 | Morgan Stanley | Reiterated | Overweight | $1200 |
| 2026-10-01 | TD Cowen | Reiterated | Buy | $1600 |
| 2026-10-01 | RBC Capital | Reiterated | Outperform | $1500 |
| 2026-10-01 | DA Davidson | Target raised | Buy | $2000 → $2100 |
| 2026-10-01 | Rosenblatt | Target raised | Buy | $1500 → $1900 |
| 2026-10-01 | Cantor Fitzgerald | Reiterated | Overweight | $2000 |
| 2026-10-01 | Needham | Reiterated | Buy | $1650 |
Total return (dividends reinvested) (MU)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +314.8% | +1199.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +316.9% | +66.8% |
| Volatility (annualized) | 80.6% | 55.3% |
| Max drawdown | -39.1% (Jun 2026→Jul 2026) | -54.0% (Jun 2024→Mar 2025) |
MU revenue by business segment (quarter ended Sep 3, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| CDBU | $18.00B | 33.2% | +1041.5% |
| CMBU | $16.28B | 30.0% | +258.4% |
| MCBU | $13.11B | 24.2% | +248.8% |
| AEBU | $6.82B | 12.6% | +375.9% |
| All other | $6.0M | 0.0% | +500.0% |
| Total revenue | $54.23B | 100% | — |
MU revenue by product line (quarter ended Sep 3, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| DRAM | $39.77B | 73.3% | +342.7% |
| NAND | $14.10B | 26.0% | +526.2% |
| Other (primarily NOR) | $356.0M | 0.7% | +350.6% |
| Total revenue | $54.23B | 100% | — |
MU revenue by region (fiscal year ended Sep 3, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| U.S. | $91.32B | 68.6% | +278.7% |
| Taiwan | $16.95B | 12.7% | +198.8% |
| Mainland China (excluding Hong Kong) | $8.34B | 6.3% | +216.0% |
| Hong Kong | $6.29B | 4.7% | +452.6% |
| Other Asia Pacific | $5.78B | 4.3% | +202.0% |
| Japan | $2.07B | 1.6% | +130.8% |
| Europe | $1.72B | 1.3% | +174.6% |
| Other | $729.0M | 0.5% | +90.3% |
| Total revenue | $133.19B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
MU suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Samsung Electronics | “We face intense competition in the semiconductor memory and storage markets from a number of companies, including Samsung Electronics Co., Ltd.;” |
Quoted from the company's 10-K filed Oct 9, 2026.
Companies that name MU in their SEC reports
| Relationship to MU | Company | Filing | Sentence |
|---|---|---|---|
| customer | Penguin Solutions, Inc. (PENG) | 10-K Oct 20, 2026 | “Our semiconductor suppliers include many of the world's largest memory manufacturers, including Samsung Semiconductor, Inc., Micron Technology, Inc., SK hynix, Inc., International Business Machines Corporation, and Kioxia Holdings Corporation.” |
| competitor | Sandisk Corp (SNDK) | 10-K Aug 17, 2026 | “We compete with vertically-integrated suppliers such as Kioxia, Micron Technology, Inc., Samsung Electronics Co., Ltd., SK Hynix, Inc., Yangtze Memory Technologies Co., Ltd. and numerous smaller companies that assemble flash into products.” |
| supplier | LAM RESEARCH CORP (LRCX) | 10-K Aug 7, 2026 | “Our most significant customers during the fiscal years ending June 28, 2026, June 29, 2025, and June 30, 2024 included Micron Technology, Inc., Samsung Electronics Company, Ltd., SK hynix Inc., and Taiwan Semiconductor Manufacturing Company.” |
| supplier | AMERICAN SUPERCONDUCTOR CORP /DE/ (AMSC) | 10-K May 27, 2026 | “We have served over 100 customers in the grid market since our inception, including a variety of U.S based power utilities, Huntington Ingalls Shipbuilding, Innomotics LLC, the U.S. Navy, Capital Power Corp., Targa Resources Corp., Micron Technology Inc., SSE plc in the United Kingdom, Consolidated Power Projects (Pty) Ltd in South Africa, the Royal Canadian Navy in Canada, Fuji Bridex in Singapore, Copel Distribu…” |
| supplier | Silicon Motion Technology CORP (SIMO) | 20-F Apr 30, 2026 | “Our customers constituting more than 10% of our net revenue were (i) Micron, SK Hynix and AFASTOR in 2023, (ii) Micron, Kioxia, PHISEMI and AFASTOR in 2024 and (iii) PHISEMI, Kioxia, AFASTOR, and Micron in 2025.” |
| supplier | ONE STOP SYSTEMS, INC. (OSS) | 10-K Mar 18, 2026 | “We apply the component technology provided by Intel, AMD, NVIDIA, Micron, Broadcom, Microchip, and others to deliver solutions to provide true value to our customers.” |
| partner | CHEMUNG FINANCIAL CORP (CHMG) | 10-K Mar 13, 2026 | “Major partners in the initiative include Applied Materials, Micron, IBM, and Tokyo Electron, and the facility aims to complement the existing semiconductor supply chain presence of companies such as ASML and GlobalFoundries, as well as enhance the research capabilities of local universities such as Rensselaer Polytechnic Institute and SUNY Polytechnic.” |
| partner | Silvaco Group, Inc. (SVCO) | 10-K Mar 12, 2026 | “Loss on debt extinguishment includes losses incurred related to the extinguishment of our note purchase agreement with Micron Technology Inc. (the "Micron Note") and our loan facility with East West Bank (the "East West Bank Loan").” |
| customer | Owlet, Inc. (OWLT) | 10-K Mar 9, 2026 | “The global semiconductor market is currently experiencing a structural shortage of NAND flash as major suppliers (such as Samsung, SK Hynix, and Micron) prioritize capital expenditure for High-Bandwidth Memory (HBM) and Enterprise-grade Solid State Drives (SSDs) to meet the demand for AI infrastructure.” |
| competitor | EVERSPIN TECHNOLOGIES INC. (MRAM) | 10-K Mar 4, 2026 | “Our principal competitors to our Toggle MRAM products include companies that offer nonvolatile SRAM (NVSRAM), SRAM, and FRAM products, such as Infineon, Fujitsu, Integrated Silicon Solution (ISSI), Macronix, Microchip, Micron, Renesas, Samsung and Toshiba.” |
| supplier | Adeia Inc. (ADEA) | 10-K Feb 26, 2026 | “These agreements are typically for specified periods of time, and our customers include Kioxia, Micron, Samsung, SanDisk, SK Hynix, Sony, ST Microelectronics, and UMC.” |
| customer | NVIDIA CORP (NVDA) | 10-K Feb 25, 2026 | “We purchase memory from SK Hynix Inc., Micron Technology, Inc., and Samsung.” |
| customer | Fortinet, Inc. (FTNT) | 10-K Feb 25, 2026 | “Our limited source components for particular appliances and suppliers of those components include specific types of CPUs from Intel and AMD, network and wireless chips from Broadcom, Marvell, Qualcomm and Intel, and memory devices from Intel, Micron, ADATA, Toshiba, Samsung and Western Digital.” |
MU customer concentration
In the period ended Aug 28, 2025, a single direct customer accounted for 17% of revenue, per the company's 10-K filed Oct 9, 2026. The company does not name it.
MU analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Nov 2026) | $38.28 | $34.88 | +9.7% | $61.74B | 30 |
| Next quarter (ends Feb 2027) | $42.24 | $37.72 | +12.0% | $67.06B | 29 |
| Current fiscal year (ends Aug 2027) | $176.55 | $153.87 | +14.7% | $275.51B | 35 |
| Next fiscal year (ends Aug 2028) | $206.89 | $162.94 | +27.0% | $318.88B | 36 |
MU options: expected move
Options price a move of about ±20.9% (±$177.05) by Jan 15, 2027, which includes earnings on Dec 23, 2026. Over the last 8 reports the stock moved ±7.4% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 26, 2026 | 3 | 57.3% | ±5.0% |
| Oct 28, 2026 | 5 | 62.7% | ±6.6% |
| Oct 30, 2026 | 7 | 63.7% | ±7.7% |
| Nov 2, 2026 | 10 | 57.8% | ±8.2% |
| Nov 4, 2026 | 12 | 60.3% | ±9.2% |
| Nov 6, 2026 | 14 | 59.9% | ±9.9% |
| Nov 13, 2026 | 21 | 57.3% | ±11.4% |
| Nov 20, 2026 | 28 | 56.3% | ±12.8% |
30-day implied volatility 55.4% vs 51.8% realized over the last 30 trading days. Put/call ratio (volume) 0.67. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 08:44 UTC)
| Price | USD 856.49 |
|---|---|
| Change | ▼ 6.26% (down) |
| Previous Close | USD 913.67 |
| Open | USD 880.08 |
| Day Range | USD 849.25 – 908.3 |
| 52-Week Range | USD 192.59 – 1,255 |
| Volume | 31,922,936 shares |
| Market Cap | $969.05B |
| Exchange | NMS |
Technical Analysis (MU)
Nexqual's technical model rates MU "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 08:44 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 33.6 (neutral) |
| vs SMA50 | Below (USD 984.17) |
| MACD | -33.19 (negative) |
Analyst Ratings (MU)
Wall Street analysts rate MU "Buy" based on 49 analysts, with a mean price target of USD 1,561.91 (range USD 361–3,000), per Nexqual as of October 23, 2026 at 08:44 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 49 |
| Mean Target | USD 1,561.91 |
| High Target | USD 3,000 |
| Low Target | USD 361 |
| Buy / Hold / Sell | 45 / 3 / 1 |
Earnings (MU)
| Next Earnings Date | 2026-12-23 |
|---|---|
| EPS Estimate | USD 38.28 |
| Revenue Estimate | $61.74B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-08-31 | USD 33.42 vs est 31.82 ▲ beat |
| 2026-05-31 | USD 25.11 vs est 20.69 ▲ beat |
| 2026-02-28 | USD 12.2 vs est 9.16 ▲ beat |
| 2025-11-30 | USD 4.78 vs est 3.96 ▲ beat |
Source: Nexqual, October 23, 2026 at 08:44 UTC.
Financials & Fundamentals (MU)
| Total Revenue | $133.19B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +379.30% |
| Gross Margin | +80.72% |
| Operating Margin | +80.68% |
| Profit Margin | +63.80% |
| ROE | +88.26% |
| Debt / Equity | 0.04 |
| Current Ratio | 3.31 |
| Total Cash | $43.43B |
| Total Debt | $5.18B |
| Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K) | $58.96B (44.3% of revenue) |
Source: Nexqual, October 23, 2026 at 08:44 UTC.
Financial Health Score (MU)
Nexqual rates Micron Technology, Inc.'s overall financial health "Strong" across five dimensions, as of October 23, 2026 at 08:44 UTC.
| Growth | Strong — Revenue +256% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 81%, operating 81% (last 12 months) |
| Balance Sheet | Strong — $43.4B cash and investments vs $3.28B debt (Sep 2026, SEC), net cash |
| Cash Flow | Strong — FCF $59.0B (last 4 quarters to Sep 2026, SEC), 44% margin |
| Efficiency | Strong — ROE 88%, ROA 44.6% |
Ownership (MU)
| Insider Ownership | +0.24% |
|---|---|
| Institutional Ownership | +80.09% |
| Shares Outstanding | 1.13B |
| Float | 1.13B |
| Short % of Float | +2.31% |
Source: Nexqual, October 23, 2026 at 08:44 UTC.
Leadership (MU)
Micron Technology, Inc. is led by Sanjay Mehrotra, CEO & Chairman, per Nexqual as of October 23, 2026 at 08:44 UTC.
| CEO & Chairman | Sanjay Mehrotra |
|---|---|
| President & Chief Technology and Products Officer | Scott J. DeBoer |
| President & COO | Manish H. Bhatia |
| Executive VP & CFO | Mark J. Murphy |
Major Backers & Investors (MU)
Notable institutional backers of Micron Technology, Inc. include Invesco, Capital Group, FMR, LLC, according to Nexqual as of October 23, 2026 at 08:44 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Invesco | 3.21% |
| Capital Group | 2.6% |
| FMR, LLC | 2.36% |
| JPMorgan | 2.28% |
| Primecap Management Company | 1.7% |
| Fidelity | 1.29% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 9.27% |
| Vanguard Group | 8.69% |
| State Street | 4.43% |
| Geode Capital | 2.45% |
Source: Nexqual, October 23, 2026 at 08:44 UTC.
From Micron Technology, Inc.'s Latest SEC 10-K Filing (filed 2026-10-09)
Key Strengths & Strategy (as disclosed to the SEC)
- Our R&D efforts are focused primarily on development of memory and storage solutions, including our industry-leading DRAM and NAND technology, that enable continuous improvement in performance and cost structure for our products.
- Our HBM4E will leverage our production-proven, industry-leading 1γ DRAM technology node and is expected to deliver another step-function improvement in performance, enabling a whole new generation of AI compute platforms across the industry.
- Many of our system-level solutions combine NAND, a controller, firmware, and in some cases DRAM.
- Our global network of manufacturing centers of excellence not only allows us to benefit from scale while streamlining processes and operations, but it also brings together some of the world's brightest talent to work on the most advanced memory technology.
Partnerships
- Centers of excellence bring expertise together in one location, providing an efficient support structure for end-to-end manufacturing, with quicker cycle times, in partnership with teams, such as R&D, product development, human resources, procurement, and supply chain.
Legal & Regulatory Risks (Item 1A, quoted)
- We may be unable to protect our intellectual property or retain key employees who are knowledgeable about and develop our intellectual property.
- Legal, regulatory, and administrative investigations, inquiries, proceedings, and claims could have a material adverse effect on our business, results of operations, or financial condition.
- Claims that our products or manufacturing processes infringe or otherwise violate the intellectual property rights of others, or failure to obtain or renew license agreements covering such intellectual property, could materially adversely affect our business, results of operations, or financial condition.
- Risks Related to Laws and Regulations
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| SKHY | SK hynix Inc. | USD 131.69 | ▼ 8.07% |
| AMD | Advanced Micro Devices, Inc. | USD 507.93 | ▼ 8.1% |
| AVGO | Broadcom Inc. | USD 323.24 | ▼ 4.31% |
| INTC | Intel Corporation | USD 85.49 | ▼ 8.04% |
| TSM | Taiwan Semiconductor Manufactur | USD 412.35 | ▼ 4.52% |
| TXN | Texas Instruments Incorporated | USD 279.5 | ▼ 1.81% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 08:44 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt