Micron (MU) Up Ahead of Q2 Print; Analyst Sees Slight Upside
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Price: $110.01 -2.18%
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 14
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Shares of Micron Technology (NASDAQ: MU) are higher today as traders position in the stock ahead of second quarter earnings due on Thursday April, 3.
Today, Pacific Crest analyst Monika Garg commented on the upcoming quarter, saying she expects the company to post slight upside "as PC DRAM pricing has held up better than expections and the NAND pricing decline has been in line with Micron's guidance." The analyst also notes Micron has high exposure to NAND spot, and NAND channel pricing has been weak.
On PC Dram pricing, Garg notes that while Hynix resumed full operations at its Wuxi fab by January-end, pricing has declined lower than expectations and is still 17% higher than pre-fire levels.
Despite today's positive comments, Garg maintained a Sector Perform rating on the stock. "We remain neutral in the near term as we think DRAM pricing could see softness over the next three to six months, but medium- to long-term changing dynamics in the memory industry are encouraging."
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 $21.91 yesterday.
Today, Pacific Crest analyst Monika Garg commented on the upcoming quarter, saying she expects the company to post slight upside "as PC DRAM pricing has held up better than expections and the NAND pricing decline has been in line with Micron's guidance." The analyst also notes Micron has high exposure to NAND spot, and NAND channel pricing has been weak.
On PC Dram pricing, Garg notes that while Hynix resumed full operations at its Wuxi fab by January-end, pricing has declined lower than expectations and is still 17% higher than pre-fire levels.
Despite today's positive comments, Garg maintained a Sector Perform rating on the stock. "We remain neutral in the near term as we think DRAM pricing could see softness over the next three to six months, but medium- to long-term changing dynamics in the memory industry are encouraging."
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 $21.91 yesterday.
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