Key Stats for Micron Technology Stock
- Past-Week Performance: 13%
- 52-Week Range: $62 to $456
- Valuation Model Target Price: $517
- Implied Upside: 18.2% over 2.6 years
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What Happened?
Micron Technology stock rose about 13% over the past week, reaching a new 52-week high near $456 as shares moved sharply higher across multiple sessions. The rally unfolded through the week rather than coming from a single headline, pointing to sustained buying interest.
The stock moved higher as institutional positioning and analyst price-target increases reinforced confidence in Micron’s earnings outlook.
Atlatl Advisers increased its stake by 323.9%, adding 9,279 shares to hold 12,144 shares worth about $2.03 million, while Transcend Capital Advisors raised its position by 37.9%, adding 3,202 shares to hold 11,649 shares valued at roughly $1.95 million.
Mediolanum International Funds also increased its stake by 230.5%, adding 150,009 shares to bring total holdings to 215,100 shares worth about $35.3 million, signaling increased institutional exposure as shares pushed to new highs.
Some trimming occurred, including a reduction by Principal Financial Group, which still holds a sizable $201.6 million position, indicating portfolio rebalancing rather than reduced conviction.
Analyst actions added further support during the week. HSBC and Rosenblatt raised their price targets to $500, and shares were up roughly 4.8% on one session following the updates.
With institutional investors owning about 80.84% of Micron, analyst revisions and fund flows carried meaningful influence and helped sustain momentum.
Recent company news also reinforced the longer-term narrative. Micron signed a $1.8 billion letter of intent to acquire PSMC’s 300,000-square-foot 300mm fab cleanroom in Taiwan, expanding DRAM capacity in a market where demand continues to outpace supply.
The company expects the site to contribute meaningful DRAM wafer output beginning in the second half of 2027, supporting confidence in Micron’s long-term supply positioning.
Overall, last week’s move reflects capital reallocations, rising earnings expectations, and strategic capacity expansion tied to AI-driven memory demand, rather than short-term trading or a one-off event.
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Is Micron Technology Undervalued?
Under valuation model assumptions, the stock is modeled using:
- Revenue Growth (CAGR): 37.5%
- Operating Margins: 65.1%
- Exit P/E Multiple: 8.7x
Based on these inputs, the model estimates a target price of $517, implying 18.2% total upside from current levels over the next 2.6 years.
At current levels, Micron Technology appears undervalued.
The company is entering a phase where AI-related memory demand, particularly high-bandwidth memory for data centers, is scaling faster than supply, supporting stronger pricing and margin durability than in prior cycles.
Capital spending discipline limits oversupply risk, while advanced node transitions improve cost efficiency and free cash flow conversion.
As AI workloads become a larger share of revenue, earnings visibility continues to improve. If these trends hold, future performance is likely driven by execution and sustained demand rather than a short-term valuation reset.
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