Micron Technology (MU) is set to report fiscal 2025 first-quarter earnings after the market closes Wednesday, with analysts overwhelmingly bullish on the chipmaker's stock.

All but one of the 15 analysts who follow the company and are tracked by Visible Alpha have a "buy" or equivalent rating for Micron, with a consensus price target of roughly $142—a 35% premium over Wednesday's intraday price of about $105. 

Wall Street expects Micron to report revenue of $8.72 billion, 84% higher year-over-year, and for the company to swing to a profit of $1.85 billion or $1.59 per share, compared to a loss of $1.23 billion or $1.12 per share a year earlier.

Results Follow $6 Billion Federal Grant Award

The results come about a week after Micron was 澳洲幸运5官方开奖结果体彩网:awarded a federal grant of up to $6.165 billion to make 澳洲幸运5官方开奖结果体彩网:semiconductors in the U.S. as part of the 澳洲幸运5官方开奖结果体彩网:CHIPS and Science Act of 2022. 

The Commerce Department said the money would support Micron’s “two-decade vision” to invest approximat♔ely $𓃲100 billion in New York state and $25 billion in Idaho for new factories that will create about 20,000 jobs.

Shares of Micron were down close to 3% intraday Wednesday and have gained about 23% since the start of the year.

UPDATE—Dec. 18, 2024: This article has been updated to reflect more recent analyst estimates and share price information.