Micron Technology, Inc. (Micron (MU)) shares were little changed in Friday premarket trading as investors kept a risk-on stance. Nasdaq futures rose 0.60%, and S&P 500 futures gained 0.65%, giving semiconductor stocks a tailwind ahead of the opening bell.

Analyst Forecasts Move Higher

Micron got another boost from Wall Street after Wolfe Research reiterated its Outperform rating and raised its price target to $1,250 on Thursday. The firm cited stronger pricing expectations for both DRAM and NAND memory products.

Wolfe expects memory demand to outpace supply through at least 2027, with industry growth constrained by limited cleanroom capacity. The firm now projects fiscal 2027 revenue of $226.5 billion and earnings of $135 per share. It also expects high-bandwidth memory (HBM) pricing to increase as suppliers seek margins closer to traditional DRAM products.

This bullish call follows other recent forecast increases. On Wednesday, Goldman Sachs maintained its Neutral rating but lifted its price target to $900. Earlier this week, Wells Fargo reiterated its Overweight rating and raised its target to $1,220.

The stock currently carries a consensus Buy rating, with an average analyst price target of $927.29.

Earnings Remain the Next Major Catalyst

Investors are now looking toward Micron's earnings report, scheduled for June 24. Analysts expect earnings of $19.46 per share, up sharply from $1.91 a year earlier. Revenue is projected to reach $34.07 billion, compared with $9.30 billion in the prior-year period.

Micron Technical Picture Remains Bullish

Micron continues to trade in a strong long-term uptrend. The stock sits 12.2% above its 20-day simple moving average of $882.85 and 162.5% above its 200-day moving average of $377.38.

The broader trend remains constructive, supported by a bullish moving-average structure. The 20-day average remains above the 50-day average, while the 50-day average stays above the 200-day average.

However, momentum has cooled. The MACD indicator remains below its signal line, suggesting upside momentum has weakened and the stock may continue consolidating after its recent rally.

The next key resistance level is near $1,089.50, close to Micron's 52-week high zone.

MU Stock Price Activity: Micron Technology shares were trading down 0.97% at $986.23 during premarket trading on Friday.