Shares of Micron Technology (NASDAQ:MU) were on track for their seventh consecutive session of gains on Thursday, as the stock rose more than 8% to $152.15 in afternoon trade.
The semiconductor manufacturer gained more than 17% in the past six trading sessions. The stock closed 3.52% higher, at $140 on Wednesday.
The stock has grown about 80% so far this year, compared to an 11% gain in the broader benchmark index. MU is up 19% over the past one month.
Citi expects Micron to provide guidance well above expectations when the memory maker releases its fourth quarter fiscal 2025 financial results later this month.
“We expect the company to report in-line results and guide well above consensus driven by higher DRAM and NAND sales and pricing,” said Citi analysts, led by Christopher Danely, in a Thursday investor note.
Citi increased its full-year fiscal 2026 revenue estimate to $56B from $54.5B and its earnings per share estimate to $15.02 from $14.62. Its full-year EPS estimate is 26% more than the consensus.
Citi expects first-quarter revenue guidance of $13B and first-quarter EPS guidance of $3.23.
Seeking Alpha’s Quant rating system has rated Micron stock as a STRONG BUY, while SA authors and sell-side analysts see the stock as a BUY.