Nomura Securities Reiterates a 'Neutral' on Micron Technology (MU); Q1 Mixed; Cutting Estimates
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Price: $11.31 +2.26%
Rating Summary:
16 Buy, 10 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
16 Buy, 10 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MU Now!
Nomura Securities reiterates a 'Neutral' on Micron Technology (NASDAQ: MU) price target of $8.00.
Analyst, Sidney Ho, said, "Revenue of $2.17bn was higher than our forecast of $1.97bn, but EPS of ($0.32) was worse than our estimate of ($0.25) and consensus of ($0.21). Micron is optimistic about the back half of the year, but the guidance implies more risks to consensus estimates. In addition, comments on NAND pricing are a negative read-through for SanDisk (Nasdaq: SNDK) in the near term. We are staying on the sideline until we see more evidence of end demand improving. We are lowering our estimate for August 2012 from ($0.07) to ($0.28) and for FY 13 from $0.32 to ($0.15)."
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 $6.12 yesterday, with a 52 week range of $3.97-$9.16.
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Analyst, Sidney Ho, said, "Revenue of $2.17bn was higher than our forecast of $1.97bn, but EPS of ($0.32) was worse than our estimate of ($0.25) and consensus of ($0.21). Micron is optimistic about the back half of the year, but the guidance implies more risks to consensus estimates. In addition, comments on NAND pricing are a negative read-through for SanDisk (Nasdaq: SNDK) in the near term. We are staying on the sideline until we see more evidence of end demand improving. We are lowering our estimate for August 2012 from ($0.07) to ($0.28) and for FY 13 from $0.32 to ($0.15)."
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 $6.12 yesterday, with a 52 week range of $3.97-$9.16.
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