Micron’s Q1 Revenue Jumps 56.7% to $13.64B as EPS Beats by $1.01
Micron Technology reported Q1 revenue of $13.64 billion, up 56.7% year-over-year, and GAAP EPS of $4.78, beating estimates by $1.01. Following this beat, Citigroup, JPMorgan, and Wolfe Research raised price targets to $330–$350, and insiders sold 369,300 shares valued at $81.5 million.
1. Institutional Investors Increase Stakes in Micron
During the third quarter, Apella Capital LLC initiated a new position in Micron Technology by purchasing 1,783 shares valued at approximately $298,000, according to its latest Form 13F filing. This move follows significant activity from other institutions: First Command Advisory Services boosted its holding by 225%, adding 153 shares to bring its total to 221 shares; AlphaQuest LLC expanded its stake by 13,250%, acquiring an additional 265 shares for a total of 267; WealthCollab LLC increased its position by 4,500%, buying 270 shares for a total of 276; and Hilltop National Bank opened a new stake valued at $37,000. Hedge funds and other institutional investors collectively own over 80% of Micron’s outstanding shares, underscoring broad professional confidence in the memory chipmaker’s growth prospects.
2. Record Q2 Results Highlight Margin Expansion and Robust Demand
In the quarter ended December 17, Micron delivered earnings per share of $4.78, surpassing consensus estimates by $1.01, while revenue climbed 56.7% year over year to $13.64 billion, outpacing forecasts by more than $1 billion. Gross margin reached 45.6%, up sharply from the prior year, and net margin stood at 28.2%. Return on equity was reported at 22.7%. Management issued guidance for the next quarter with EPS between $8.22 and $8.62. The company cited persistent strength in data center memory demand, driven by AI model training requirements, and sold out its entire 2026 inventory of high-bandwidth memory products, including HBM4E solutions that promise both higher capacity and improved energy efficiency.
3. Analysts Upgrade Ratings While Insiders Trim Positions
Since mid-December, five research firms have raised price targets on Micron, with Citigroup moving its objective from $300 to $330, JPMorgan Chase & Co. lifting its target from $220 to $350, Wolfe Research increasing its forecast from $300 to $350, and Piper Sandler and Wedbush each setting new targets above $275. Collectively, analysts’ average rating stands at “Buy,” with a consensus target price near $283. Concurrently, insiders have reduced their stakes: EVP April Arnzen sold 15,000 shares for proceeds of $4.16 million, while CEO Sanjay Mehrotra divested 22,500 shares for $4.97 million. Total insider dispositions in the last quarter amounted to 369,300 shares valued at $81.5 million, representing a 0.24% ownership by executives.