Micron Technology
Makes DRAM and NAND memory for AI data centers, devices, vehicles and industrial systems.
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Profile
Designs and manufactures DRAM, NAND and NOR memory, including HBM, server modules, managed NAND and SSDs for data centers, phones, PCs, vehicles and industrial systems. A global fabrication network and volatile memory prices shape results, with data centers now the largest demand center.
Designs and manufactures DRAM, NAND and NOR memory, selling components, modules, solid-state drives and managed NAND. Cloud Memory supplies HBM and server memory to hyperscale data-center customers; Core Data Center adds enterprise and OEM memory plus data-center SSDs. Mobile and Client serves phones and PCs, while Automotive and Embedded covers vehicles, industrial systems and consumer devices.
Combines proprietary process technology with controller, firmware and packaging work, then manufactures through a network spanning the United States, Taiwan, Singapore, Japan, Malaysia, China and India. Most products ship outside the United States, and data centers account for roughly half of revenue.
Results remain tied to volatile DRAM and NAND pricing, capital-intensive fabrication, a concentrated customer base and reliable supplies of specialized equipment, materials, power and water. A majority of DRAM output comes from Taiwan, while China bars critical-infrastructure operators from purchasing its products.
Company facts
Key statistics
Year to date +196% · Average volume (30d) 36.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | Mizuho Securities | Target | $1,375 | $1,300 | ||
| Aug 20, 2026 | BMO Capital | Target | $70 | $1,300 | ||
| Aug 14, 2026 | Wells Fargo | Downgrade | Overweight | Underweight | ||
| Aug 14, 2026 | HSBC | Downgrade | Hold | Underperform | ||
| Aug 14, 2026 | Jefferies | Downgrade | Buy | Underperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 24, 2026Q3 FY26 | $20.98 | $25.11 | +19.7% | $35.91B | $41.46B | +15.4% | +15.74% |
| Mar 18, 2026Q2 FY26 | $9.19 | $12.20 | +32.8% | $19.97B | $23.86B | +19.5% | −3.78% |
| Dec 17, 2025Q1 FY26 | $3.96 | $4.78 | +20.7% | $12.91B | $13.64B | +5.7% | +10.21% |
| Sep 23, 2025Q4 FY25 | $2.86 | $3.03 | +5.9% | $11.22B | $11.32B | +0.9% | −2.82% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $8.05B | $9.30B | $11.32B | $13.64B | $23.86B | $41.46B | |
| Gross profit | $2.96B | $3.51B | $5.05B | $7.65B | $17.76B | $35.06B | |
| Operating income | $1.77B | $2.17B | $3.75B | $6.14B | $16.14B | $33.32B | |
| Net income | $1.58B | $1.89B | $3.20B | $5.24B | $13.79B | $28.24B | |
| Diluted EPS | $1.41 | $1.68 | $2.83 | $4.60 | $12.08 | $24.67 | |
| Gross margin | 36.8% | 37.7% | 44.7% | 56.0% | 74.4% | 84.6% | |
| Operating margin | 22.0% | 23.3% | 33.2% | 45.0% | 67.6% | 80.4% |
Fiscal years (4-quarter sums)FY21 $27.71B · FY22 $30.76B · FY23 $15.54B · FY24 $25.11B · FY25 $37.38B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, May 28, 2026Cash & short-term investments $26.02B · Total debt $6.38B · Total assets $134.11B · Shareholders' equity $100.72B
Dividends
Raised for 4 straight years — most recently to $0.15 from $0.115 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 6, 2026 | Jul 6 | Jul 21 | $0.15 | |
| Mar 30, 2026 | Mar 30 | Apr 15 | $0.15 | raised from $0.115 |
| Dec 29, 2025 | Dec 29 | Jan 14 | $0.115 | |
| Oct 3, 2025 | Oct 3 | Oct 21 | $0.115 | |
| Jul 7, 2025 | Jul 7 | Jul 22 | $0.115 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.115 | |
| Dec 30, 2024 | Dec 30 | Jan 15 | $0.115 | |
| Oct 7, 2024 | Oct 7 | Oct 23 | $0.115 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 1.13B · Float 1.12B · 99.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 104.83M | 9.28% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 73.66M | 6.52% | 13F | Aug 13, 2026 |
| State Street Corp | 50.08M | 4.43% | 13F | Aug 7, 2026 |
| Invesco Ltd. | 36.32M | 3.22% | 13F | Aug 14, 2026 |
| Capital World Investors | 29.47M | 2.61% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 26, 2026 | Alexis Bjorlin | director | −25 | $1,132.33 |
| Aug 21, 2026 | Sanjay Mehrotra | director, officer: President and CEO | −40,000 | $968.90 |
| Aug 18, 2026 | Sumit Sadana | officer: EVP and Chief Business Officer | −15,000 | $934.29 |
| Jul 24, 2026 | Sanjay Mehrotra | director, officer: President and CEO | −40,000 | $932.25 |
| Jul 23, 2026 | Scott R. Allen | officer: CVP, Chief Accounting Officer | −879 | $1,000.00 |
Peers
- Sandisk
Pure-play NAND spinoff from WDC; ~12–13% NAND share; enterprise SSD focus.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Micron Technology | $931.00 | −0.20% | $1.05T | 21.1 | 6.5 | 11.7 | +345.7% |
| Sandisk | $1,483.30 | −0.08% | $219.91B | 20.1 | 7.1 | 10.9 | +371.6% |
| Median | 20.1 | 7.1 | 10.9 | +371.6% |