Micron (MU) Stock Rises as SK Hynix and Samsung Launch Massive Buyback Plans

TLDR

• Micron stock rose nearly 1% in Thursday’s premarket, trading around $945, with no specific company catalyst driving the move.
• SK Hynix plans a $29 billion buyback; Samsung is reportedly planning one worth over 100 trillion won; Kioxia just completed a ~$5 billion buyback.
• Micron is blocked from major buybacks due to its 2024 Chips Act funding conditions, with restrictions expiring December 9, 2026.
• Analysts expect Micron to earn $31.27 per share on revenue of $50.81 billion at its estimated September 22 earnings report.
• The stock carries an average analyst price target of $1,537.50, with Cantor Fitzgerald the most bullish at $2,000.

Micron Technology (MU) stock edged up nearly 1% in Thursday’s premarket, trading around $945, even as memory-chip rivals announced massive shareholder return programs that Micron cannot yet match.

Micron Technology, Inc., MU

SK Hynix announced a plan to repurchase 40 trillion won ($29 billion) worth of stock over three months starting Thursday. Japan’s Kioxia just wrapped up its own roughly $5 billion buyback this month. Samsung Electronics is reportedly planning a shareholder return program worth more than 100 trillion won, with an announcement expected later in August.

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