Micron (MU) Q1 Outlook Better than Feared, Credit Suisse Says

Credit Suisse analyst J. Pitzer reiterated an Outperform rating and lowered his price target on Micron Technology (NASDAQ: MU) to $25.00 (from $34.00) following Q4 results and Q1 guidance that was below the Street but better than feared.

Pitzer commmentedm "... specifically F1Q EPS of $0.20-$0.26, compares to CS estimate of $0.20, street of $0.38 and Buy-side expectations of ~$0.15-$0.20. Most importantly F4Q MU DRAM ASPs down 7% q/q significantly outpunched PC DRAM pricing down 17% q/q as mix of LPDDR4 increased from 4% to 24%, and PC DRAM decreased from 27% to 21%."

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $14.77 yesterday.

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