Mizuho Raises Micron (MU) Price Target to $1,150, Keeps Outperform Rating

Micron Technology, Inc. (NASDAQ:MU) is one of the 12 Stocks Most Bought by Hedge Funds in Q1 2026. On May 27, Mizuho lifted its price target on Micron Technology, Inc. (NASDAQ:MU) from $800 to $1,150 while keeping an Outperform rating.

The new price target represents 5.3 times Mizuho’s fiscal 2027 price-to-book estimate, compared with the earlier 3.8 times multiple. On a price-to-earnings basis, the target represents about 10 times the firm’s fiscal 2027 earnings per share forecast.

Photo from Micron Technology website

Mizuho expects Micron Technology, Inc.’s (NASDAQ:MU) fiscal 2027 revenue to increase by 70% year-over-year, while earnings per share are expected to rise by 85%. The firm believes growth will be supported by DRAM and NAND tailwinds.

The firm also highlighted high-bandwidth memory (HBM) as a major growth driver, which it forecasts could make up 23% of Micron Technology, Inc.’s (NASDAQ:MU) fiscal 2028 revenue. Mizuho expects HBM prices to grow between 70% and 100% year-over-year in calendar 2027.

In addition, Mizuho noted that the expansion of Agentic AI into 2027 could be another tailwind as it further supports DRAM and NAND demand while industry capacity growth remains limited through calendar 2027.

Micron Technology, Inc. (NASDAQ:MU) is a leading semiconductor technology company that is known for its innovative memory and storage solutions. The company offers a portfolio of high-performance DRAM, NAND, and NOR memory and storage products.

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