What Wall Road Analysts Consider Micron’s Inventory Forward of Earnings

Micron Expertise (MU) is about to report fiscal 2025 first-quarter earnings after the market closes Wednesday, with analysts overwhelmingly bullish on the chipmaker’s inventory.

All however one of many 15 analysts who observe the corporate and are tracked by Seen Alpha have a “purchase” or equal score for Micron, with a consensus worth goal of roughly $142—a near 40% premium over Friday’s closing worth of $102.50. 

Wall Road expects Micron to report income of $8.72 billion, 84% increased year-over-year, and for the corporate to swing to a revenue of $1.84 billion or $1.58 per share, in comparison with a lack of $1.23 billion or $1.12 per share a yr earlier.

Outcomes Comply with $6 Billion Federal Grant Award

The outcomes come a few week after Micron was awarded a federal grant of as much as $6.165 billion to make semiconductors within the U.S. as a part of the CHIPS and Science Act of 2022. 

The Commerce Division mentioned the cash would help Micron’s “two-decade imaginative and prescient” to speculate roughly $100 billion in New York state and $25 billion in Idaho for brand spanking new factories that can create about 20,000 jobs.

Shares of Micron rose over 4% Friday and have gained about 20% for the reason that begin of the yr.