Micron reported fourth-quarter revenue of $13.64 billion, marking a 56.7% increase year-over-year, and delivered non-GAAP earnings per share of $4.78, topping consensus by $1.01. Net margin expanded to 28.2%, while return on equity climbed to 22.7%. Management cited robust demand for AI training and inference memory modules as the primary driver of structural pricing power and margin expansion, positioning Micron to sustain double-digit revenue growth through its fiscal second quarter guidance of $8.22 to $8.62 EPS.

In the latest 13F filings, Bank Pictet & Cie Europe AG increased its position by 12.5%, adding 6,128 shares and raising its holding to 55,255 shares valued at $9.25 million. Brighton Jones LLC boosted its stake by 18.3% during the fourth quarter, while First Manhattan CO. LLC and Advisors Asset Management Inc. lifted theirs by 25.2% and 151.7%, respectively. Collectively, institutional ownership now exceeds 80.8%, underscoring growing conviction among long-term investors in Micron’s AI-driven memory cycle.

Over the past month, five research houses have raised their ratings or price objectives on Micron. Deutsche Bank, Susquehanna, Needham & Company and Wolfe Research all moved to Buy or Outperform, with consensus target uplifted from $200 to over $280. KeyCorp and other analysts highlighted Micron’s sustained capacity discipline and improving product mix in data-center SSDs as catalysts for further multiple expansion and outperformance in 2026.

Micron announced a quarterly dividend of $0.115 per share, reflecting a payout ratio of just 4.4% and underscoring the company’s commitment to returning cash to shareholders. The announced payment on January 14 will attract income-oriented investors while preserving the bulk of free cash flow for continued investment in advanced process technologies and capacity expansion to support the next phase of AI memory demand.