Ross Gerber Expects Micron to Buy Back 'Tons of Stock' in December — 'A Big Buyer Is Coming Soon'

Investor Ross Gerber expects Micron Technology Inc. (NASDAQ:MU) to ramp up share repurchases once CHIPS Act restrictions expire.

A ‘Big Buyer’ for Micron Stock

Gerber Kawasaki CEO said in a post on X Thursday that the CHIPS Act is the only thing keeping Micron from buying back “tons of stock.”

“So we know a big buyer is coming soon,” he added, referring to Micron’s ability to repurchase shares.

The December 9 Buyback Catalyst

Micron’s Chief Financial Officer Mark Murphy told investors on the September earnings call that the company would seek a larger repurchase authorization and “commence stronger capital return from December 9th” in line with its CHIPS agreements.

Micron has about $2.2 billion remaining under its current authorization, with a net cash balance of $68.3 billion as of the end of fiscal 2026.

Murphy said the company expects to return all of its excess cash to shareholders over time, “primarily done through share repurchase.”

Bank of America analysts expect a $37 billion buyback in 2027.

Analyst Sees More Upside

D.A. Davidson analyst Gil Luria raised his price target on Micron from $2,100 to $3,000 on Wednesday, the highest on Wall Street, which implies about 190% upside from Thursday’s close.

Micron has a Buy consensus among 26 analysts tracked by Benzinga Pro, with an average price target of $1,463.

Price Action: MU Shares closed 4.79% lower on Thursday at $1,035.84 and climbed 2.13% to $1,057.94 in early premarket trading on Friday.

The stock has gained 228.40% so far this year and 438.57% over the past year.

Benzinga Edge rankings indicate Micron’s stock has a Momentum score in the 99th percentile and a Growth score in the 93rd percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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