TLDR Micron stock hit a new 52-week high of $365.81 on January 16, 2026, capping a 231% gain over the past year Barclays raised its price target to $450 while WellsTLDR Micron stock hit a new 52-week high of $365.81 on January 16, 2026, capping a 231% gain over the past year Barclays raised its price target to $450 while Wells

Micron (MU) Stock: Why Barclays Just Raised Its Target by 64%

TLDR

  • Micron stock hit a new 52-week high of $365.81 on January 16, 2026, capping a 231% gain over the past year
  • Barclays raised its price target to $450 while Wells Fargo lifted its target to $410 following Q1 revenue of $13.64 billion (up 57% year-over-year)
  • Company’s high-bandwidth memory production is sold out through 2026 with locked multi-year pricing agreements
  • Micron is purchasing a Taiwan fabrication plant for $1.8 billion and broke ground on a $100 billion semiconductor facility in upstate New York
  • Director Liu Teyin M purchased 23,200 shares at roughly $337, showing insider confidence

Micron stock jumped over 7% to $362.75 after Barclays raised its 12-month price target to $450 from $275 on January 15, 2026. Wells Fargo followed suit with a $410 target.


MU Stock Card
Micron Technology, Inc., MU

The dual upgrades came after Micron reported first-quarter results that crushed expectations. Revenue hit $13.64 billion, up 57% year-over-year. Non-GAAP earnings per share reached $4.78, beating consensus by 27%.

Q2 guidance proved even more impressive. Management projected revenue around $18.7 billion with gross margins expanding to roughly 68%. That represents an 11-percentage-point sequential jump.

The company stated its high-bandwidth memory production is completely sold out through 2026. Micron has locked in multi-year pricing agreements with customers.

Director Teyin Liu purchased 23,200 shares at approximately $337 per share on January 13-14. The insider purchase adds weight to the bullish case.

KeyBanc, Cantor Fitzgerald, and RBC Capital all raised targets to $425-$450 within 24 hours. The consensus points to structural supply tightness rather than just cyclical optimism.

Massive Expansion Plans Take Shape

Micron broke ground on a $100 billion semiconductor manufacturing plant in upstate New York. Executives describe the Onondaga County facility near Syracuse as the largest semiconductor plant in the US.

The plant is slated for full operation by 2030. It will create 50,000 jobs in New York state.

Micron signed a letter of intent to buy a fabrication plant from Taiwan’s Powerchip Semiconductor Manufacturing Corp for $1.8 billion. The deal is expected to close in the second half of 2026.

The company will gradually boost DRAM production at the Taiwan site. Major wafer output should start in late 2027.

The location near Micron’s current Taiwan facilities improves long-term efficiency. Micron and Powerchip will team up on chip assembly post-production.

What the Numbers Really Mean

Micron currently trades at a forward P/E of 12 times. That sits above its five-year average of 20 times.

Wall Street consensus averages $360-$379, well below Barclays’ $450 call. The gap reveals the real debate about whether the market should expand valuation multiples while Micron approaches peak profitability.

Consensus expects 100% EPS growth for fiscal 2026. The company plans to increase capex to $20 billion in fiscal 2026.

SK Hynix, which controls 60% of global HBM shipments, warned that DRAM shortages could extend through 2028. Even with aggressive expansion, new fab capacity won’t meaningfully arrive before 2027-2028.

AI-driven demand from data centers and hyperscalers has created memory chip shortages. Prices have risen as a result.

On TipRanks, Micron stock has a Strong Buy consensus rating based on 25 Buys and one Hold rating. The average Micron price target of $363.77 implies shares are almost fully valued at current levels.

The post Micron (MU) Stock: Why Barclays Just Raised Its Target by 64% appeared first on CoinCentral.

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