Citigroup Reiterates Buy Rating for Micron Technology
Citigroup maintains its buy rating on Micron Technology with a target price of $1,200.
Key Points
- Citigroup reiterated its buy rating on Micron Technology, Inc. (NasdaqGS: MU) with a target price of $1,200 on June 17, 2026.
- Shares of Micron Technology traded at $1,032.81 with a market cap of $1.15 trillion and a forward P/E ratio of 8.91.
- Other analysts like Deutsche Bank and TD Cowen also maintained buy ratings, with price targets reaching up to $1,500.
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On June 17, 2026, Citigroup reiterated its buy rating for Micron Technology, Inc. (NasdaqGS: MU), setting a target price of $1,200. This move reflects Citigroup's continued confidence in the semiconductor giant, which is currently trading at $1,032.81 per share.
Micron Technology, Inc. Stock Up 8.7%
Shares of Micron Technology are trading on the NasdaqGS at around $1,032.81. The company boasts a market capitalization of approximately $1.15 trillion. Micron's forward P/E ratio is 8.91, suggesting some growth expectations baked into its price. The stock has seen a 52-week range between $103.38 and $1,110.40. With a beta of 2.173, the stock is more volatile than the broader market. The company's 50-day moving average is $704.94, while the 200-day moving average stands at $391.05.
Recent Earnings
Micron Technology recently reported revenue of $58.12 billion, with a revenue growth rate of 1.96%. The company posted an EPS of $21.23, reflecting a healthy net margin of 41.49%. Return on equity was strong at 39.82%. The next earnings report is scheduled for June 24, 2026.
Dividend
Micron offers an annual dividend rate of $0.60, resulting in a dividend yield of 0.06%. The payout ratio is a modest 2.17%, indicating a conservative approach to dividend distribution.
Insider Buying and Selling at Micron Technology, Inc.
Insider activity at Micron Technology includes a planned sale by CEO Sanjay Mehrotra, who sold 40,000 shares at an average price of $961.35 on May 29, 2026. Additionally, on June 9, 2026, Alexis Bjorlin acquired 63 shares, adding to the insider activity.
Analysts Set New Price Targets
Analysts have been active in setting price targets for Micron Technology. On June 17, 2026, Deutsche Bank maintained its buy rating with a target of $1,500, echoing TD Cowen's sentiment from June 15, 2026. RBC Capital also maintained its buy rating with a $1,200 target on June 15, 2026. The consensus recommendation for Micron is a strong buy, with an average target price of $866.60 across 40 analyst opinions.
About Micron Technology
Micron Technology, Inc. is a leader in the semiconductor industry, designing and manufacturing memory and storage products. Headquartered in Boise, Idaho, the company serves a wide range of markets, including data centers, PCs, and mobile devices. Under the leadership of CEO Sanjay Mehrotra, Micron employs around 53,000 people globally. Its diverse product lineup includes DRAM, NAND, and SSD technologies, marketed under the Micron and Crucial brands.
Bottom Line
Citigroup's reaffirmation of its buy rating on Micron Technology underscores confidence in the company's potential. Investors often track such analyst ratings to gauge market sentiment. However, it's important to remember that these ratings reflect the analysts' perspectives and are not investment advice. As always, 13F filings and analyst ratings are backward-looking and may not represent the latest market conditions.
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