RBC Capital Reiterates Buy Rating on Micron Technology
RBC Capital maintains its buy stance on Micron with a $1,200 price target.
Key Points
- RBC Capital reiterated its buy rating on Micron Technology, Inc. (MU) with a price target of $1,200 on June 15, 2026.
- Micron shares trade near $980.71, with a market cap of about $1.11 trillion and a forward P/E of 8.75.
- Analysts maintain a strong buy consensus for Micron, with a mean price target of $828.73 from 40 opinions.
RBC Capital reiterated its buy rating on Micron Technology, Inc. (NasdaqGS: MU) on June 15, 2026, with a price target of $1,200. The analyst, Srini Pajjuri, maintained a positive outlook on the company as shares traded around $980.71.
Micron Technology Stock Snapshot
Shares of NasdaqGS:MU are trading near $980.71. Micron Technology has a hefty market cap of approximately $1.11 trillion. Its P/E ratio stands at 46.3, while the forward P/E is a more attractive 8.75, suggesting potential growth. The stock has experienced significant volatility with a 52-week range between $103.38 and $1,089.29. It also has a beta of 2.173, indicating higher volatility compared to the market. The company's financial health appears strong with a current ratio of 2.897 and a quick ratio of 2.232.
Recent Earnings
Micron Technology reported revenue of $58.12 billion, with a modest growth rate of 1.96%. The company's net margin is 41.5%, reflecting strong profitability, and its return on equity (ROE) is 39.8%. The next earnings report is expected on June 24, 2026.
Dividend
Micron Technology offers an annual dividend rate of $0.60, yielding 0.06%. The dividend payout ratio is a conservative 2.17%, indicating room for potential increases in the future.
Insider Buying and Selling at Micron Technology, Inc.
Recent insider activity at Micron includes a purchase by Alexis Bjorlin on June 9, 2026, acquiring 63 shares. Notably, President and CEO Sanjay Mehrotra executed planned sales of 40,000 shares on both May 29 and May 1, 2026, at average prices of $961.35 and $536.26, respectively. Other insiders, including Michael Charles Ray and Scott Allen, also executed planned sales.
Analysts Set New Price Targets
On June 15, 2026, RBC Capital maintained its buy rating on Micron with a $1,200 price target. TD Cowen also reiterated a buy rating with a higher target of $1,500. Wolfe Research set a target of $1,250, while Goldman Sachs maintained a hold rating with a $900 target. The consensus among analysts is a strong buy, with an average price target of approximately $828.73 based on 40 opinions.
About Micron Technology
Micron Technology, Inc. is a leading global provider of memory and storage solutions, headquartered in Boise, Idaho. The company designs, develops, and sells a wide range of memory products, including DRAM, NAND, and NOR flash. Under the leadership of CEO Sanjay Mehrotra, Micron serves diverse markets such as data centers, mobile devices, automotive, and consumer electronics. Founded in 1978, Micron employs around 53,000 people worldwide.
Bottom Line
RBC Capital's reiterated buy rating on Micron Technology reflects continued confidence in the company's growth prospects, supported by strong earnings and a robust market position. With shares trading near $980.71 and a forward P/E of 8.75, Micron remains a focal point for investors. As always, it's important to remember that analyst ratings and 13F filings are backward-looking and may not reflect current market conditions.
See Also
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