Micron reports strong fiscal results as Goldman raises price target to $1,250

Oct 1, 2026 02:29 (24d ago)

Micron plans to seek a larger buyback authorization and begin stronger capital returns on Dec. 9, 2026.
Micron reported $54.23 billion in fiscal-fourth-quarter revenue and $33.42 in adjusted earnings per share.
Goldman raised Micron's price target to $1,250 while 26 agreements cover about 35% of projected revenue through fiscal 2030.

Micron Technology ended fiscal 2026 with $73.48 billion in cash and investments, including $68.3 billion in net cash after $5.2 billion in debt, and said it plans to seek a larger share-repurchase authorization. Chief Financial Officer Mark Murphy said stronger capital returns would begin Dec. 9, 2026, under the company’s CHIPS Act agreements, with 100% of excess cash expected to be returned over time, primarily through repurchases. Fiscal-year revenue rose 256% to $133.2 billion, while fourth-quarter revenue reached $54.23 billion and adjusted earnings were $33.42 per share. Goldman Sachs raised its price target to $1,250 from $1,100 but retained a Neutral rating.