Micron Technology, Inc.
- Open
- 965.08
- Day high
- 984.48
- Day low
- 954.13
- Prev close
- 991.64
- Volume
- 19.0M
- Mkt cap
- $1.10T
- P/E (TTM)
- 21.9
- EPS (TTM)
- $44.86
- P/B
- 11.0
- P/S
- 12.2
- Yield
- 0.05%
- Per share
- $0.53
- ▼Insiders net selling -$167.8M over the last 3 months (0 open-market buys, 150 sales)
- 🏛Institutions accumulating (13F)
Micron Technology, Inc. (MU) is a Technology company listed on NASDAQ. The stock is up 705% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 150 sales (SEC Form 4). Drillr has 10 published research articles covering MU.
Micron Technology, Inc. (MU) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 23 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MU earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 24, 2026 | $20.98 | $25.11 | +19.7% | $41.5B | +15.4% |
| Mar 18, 2026 | $9.19 | $12.20 | +32.8% | $23.9B | +19.5% |
| Dec 17, 2025 | $3.96 | $4.78 | +20.7% | $13.6B | +5.7% |
| Sep 23, 2025 | $2.86 | $3.03 | +5.9% | $11.3B | +0.9% |
| Jun 25, 2025 | $1.60 | $1.91 | +19.4% | $9.3B | +4.9% |
| Mar 20, 2025 | $1.43 | $1.56 | +9.1% | $8.1B | +2.0% |
| Dec 18, 2024 | $1.75 | $1.79 | +2.3% | $8.7B | -0.1% |
| Sep 25, 2024 | $1.12 | $1.18 | +5.4% | $7.8B | +1.3% |
| Mar 20, 2024 | $-0.25 | $0.42 | +266.2% | $5.8B | +8.9% |
| Dec 20, 2023 | $-0.99 | $-0.95 | +4.0% | $4.7B | -1.7% |
| Dec 21, 2022 | $-0.01 | $-0.04 | -194.6% | $4.1B | -1.2% |
| Jun 30, 2022 | $2.43 | $2.59 | +6.6% | $8.6B | -0.0% |
MU insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 2,317 | $1091.71 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 3,572 | $1080.96 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 4,279 | $1077.05 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 705 | $1093.92 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 929 | $1082.28 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 220 | $1088.12 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 2,510 | $1092.68 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 2,105 | $1086.38 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 267 | $1089.04 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 794 | $1084.12 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 10,497 | $1079.99 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 3,593 | $1083.31 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 1,247 | $1078.47 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 2,125 | $1095.25 |
| Jul 6, 2026 | ARNZEN APRIL Sofficer: EVP and Chief People Officer | Sell | 288 | $1090.60 |
Source: MU SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full MU insider & 13F page →MU research & analysis
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The S&P 500's strongest week in four months highlights cross-sector winners like MU, VLO, CF, NIO, NBIS, and IREN, each with strong recent gains, growth metrics, and thematic tailwinds. Ranked by conviction, they offer positioning for continued broadening. Key risks include macro slowdowns and sector rotations.
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Micron Technology, Inc. company profile
Overview
Micron Technology, Inc. (NASDAQ:MU) is a leading global semiconductor company founded in 1978 and headquartered in Boise, Idaho. The company designs, manufactures, and sells memory and storage products worldwide, serving as one of the world's largest producers of memory semiconductors. Micron went public in 1984 and has grown to become a critical supplier in the global technology ecosystem, providing essential memory components that enable everything from smartphones and computers to data centers and artificial intelligence systems. The company operates through four main business segments and has established itself as a technology leader in both DRAM and NAND flash memory markets.
Business
Micron operates in the semiconductor memory industry, specifically focusing on two primary types of memory products that are fundamental components in virtually all electronic devices. The company's core offerings include DRAM (Dynamic Random Access Memory) and NAND flash memory products, along with related storage solutions. DRAM products represent the company's largest revenue segment, accounting for approximately 70-75% of total revenue. DRAM is a type of volatile memory that serves as the primary working memory in computers, servers, and mobile devices. It provides high-speed, temporary data storage that processors use to quickly access frequently needed information. When a device is powered off, DRAM loses its stored data. Micron's DRAM products include standard DDR (Double Data Rate) memory for computers, LPDDR (Low Power DDR) for mobile devices, and specialized high-performance memory like HBM (High Bandwidth Memory) used in artificial intelligence and graphics processing applications. NAND flash memory products comprise approximately 25-30% of revenue and represent non-volatile storage, meaning data persists even when power is removed. NAND flash is used in solid-state drives (SSDs), USB drives, memory cards, and embedded storage in smartphones and other devices. Micron produces various NAND configurations, including QLC (Quad-Level Cell) and TLC (Triple-Level Cell) technologies that offer different performance and cost characteristics. The company's four business segments include: 1. Compute and Networking Business Unit (approximately 57% of revenue) serving data centers, servers, and networking equipment; 2. Storage Business Unit (approximately 17% of revenue) providing SSDs and storage solutions; 3. Mobile Business Unit (approximately 14% of revenue) supplying memory for smartphones and tablets; and 4. Embedded Business Unit (approximately 12% of revenue) serving automotive, industrial, and consumer electronics markets.
Revenue model
Micron generates revenue primarily through direct product sales of memory semiconductors to original equipment manufacturers (OEMs), system integrators, and distributors. The company operates in a cyclical industry where pricing is heavily influenced by supply and demand dynamics, with memory prices fluctuating significantly based on market conditions. The company's customers include major technology companies such as hyperscale cloud providers (Amazon, Microsoft, Google), smartphone manufacturers (Apple, Samsung), PC manufacturers (Dell, HP, Lenovo), and automotive companies integrating advanced electronics. Revenue is generated through both direct sales relationships and distribution partnerships, with some customers entering into long-term supply agreements that provide greater revenue visibility. Micron's profitability is significantly impacted by several key factors. Technology leadership in advanced manufacturing nodes provides cost advantages and enables premium pricing for cutting-edge products. The company's ability to produce memory on smaller, more efficient process nodes (measured in nanometers) directly impacts manufacturing costs and profit margins. Product mix heavily influences profitability, with specialized products like HBM commanding significantly higher margins than commodity DRAM, and data center products typically generating better margins than consumer-oriented memory. Market cyclicality represents the most significant factor affecting margins, as memory pricing can swing dramatically based on supply-demand imbalances. During periods of tight supply or strong demand growth, pricing power increases substantially. Conversely, when supply exceeds demand or customer inventories are elevated, pricing pressure intensifies rapidly. Manufacturing efficiency and yield rates at production facilities directly impact unit costs, while capital expenditure timing affects both capacity additions and technology transitions. External factors include broader economic conditions affecting end-market demand, geopolitical tensions impacting trade relationships, and competition from other major memory manufacturers like Samsung and SK Hynix.
Competitive moat
Micron's competitive moat is moderately strong but faces significant challenges in what is essentially a commodity-driven industry. The company's primary moat stems from technological barriers to entry and manufacturing scale advantages. Developing competitive memory manufacturing capabilities requires enormous capital investments (often exceeding $10 billion for new fabrication facilities) and years of process development expertise. The technical complexity of producing memory semiconductors at leading-edge nodes creates substantial barriers for new entrants. However, Micron's moat is constrained by the oligopolistic nature of the memory industry, where three major players (Samsung, SK Hynix, and Micron) control the majority of global DRAM production. This concentrated market structure means that competitive advantages are often temporary, as technological innovations are typically matched by competitors within 12-18 months. The industry's cyclical nature also limits pricing power during downturns, regardless of technological leadership. Micron's strongest competitive position lies in specialized memory products like HBM for AI applications, where technical differentiation and customer qualification processes provide more sustainable advantages. The company's investments in advanced packaging technologies and close customer relationships in emerging markets like automotive and industrial applications offer potential for more defensible market positions. The primary competitive threats come from well-capitalized Asian competitors, particularly Samsung, which benefits from vertical integration and substantial government support. Additionally, potential disruption from new memory technologies or changes in computing architectures could threaten existing market positions. Chinese memory manufacturers, while currently behind in technology, represent a long-term competitive risk given substantial government backing and investment.
Risks & safety
Micron demonstrates a strong financial position with adequate margin of safety, though subject to industry cyclicality. • Liquidity and Solvency: Strong cash position of $7.6 billion with current ratio of 3.13, indicating solid short-term liquidity. Debt-to-equity ratio of 0.31 represents manageable leverage levels. Free cash flow generation has been positive in recent quarters, reaching $7.1 billion in Q2 2025. • Valuation Metrics: Trading at P/E ratio of 16.2 and EV/EBITDA of 15.5, which appear reasonable given the cyclical recovery phase. Price-to-book ratio of 2.1 reflects some premium to tangible assets but not excessive given technology assets and market position. • Operational Considerations: The company maintains disciplined capital allocation with CapEx targeted at mid-30s percentage of revenue. Strong technology positioning in advanced nodes and growing HBM market provides revenue growth visibility. However, exposure to memory cycle volatility remains a key risk factor requiring careful monitoring of industry supply-demand dynamics.
Recent development
Over the past few years, Micron has executed a strategic transformation focused on artificial intelligence and data center markets while advancing manufacturing technology leadership. The company has significantly expanded its HBM (High Bandwidth Memory) capabilities, transitioning from minimal HBM revenue to over $1 billion in Q2 2025, with projections for multiple billions annually. This represents a critical pivot toward higher-margin, specialized memory products essential for AI training and inference. Manufacturing technology advancement has been a key focus, with Micron achieving leadership in advanced process nodes. The company successfully ramped 1-beta DRAM production and is preparing 1-gamma node technology, which offers 20% lower power consumption and 15% better performance. In NAND flash, Micron pioneered 232-layer technology and continues advancing toward higher layer counts for improved cost efficiency. Geographic diversification and supply chain resilience initiatives include substantial U.S. manufacturing investments supported by $6.1 billion in government grants. The company selected Boise, Idaho, and plans additional U.S. facilities to reduce geographic concentration risks and align with national security priorities. Portfolio optimization efforts have focused on shifting toward higher-value market segments, targeting 62% of revenue from data center, automotive, industrial, and networking applications by fiscal 2025. This strategic shift away from consumer-oriented products aims to improve margin stability and reduce exposure to cyclical consumer demand patterns. The company has also strengthened customer relationships through long-term supply agreements and deeper technology collaboration, particularly in emerging applications like automotive and edge AI computing.
MU company profile · for informational purposes only — not investment advice.
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