Mizuho Securities Downgrades Micron Technology (MU) to Neutral

October 19, 2021 5:56 PM EDT
Get Alerts MU Hot Sheet
Price: $67.87 --0%

Rating Summary:
    38 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 20 | New: 10
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Mizuho Securities analyst Vijay Rakesh downgraded Micron Technology (NASDAQ: MU) from Buy to Neutral with a price target of $75.00 (from $90.00).

The analyst commented, "While MU has been executing well, 4Q21-2Q22 could see DRAM pricing down 8%-10% q/q through consecutive quarters versus our prior expectations of flat to down 2% q/q. While the shares have underperformed, we see near-term pricing and demand headwinds limiting upside. Lowering FebQ from $8.0B/$2.19 to $7.3B/$1.84, F22E from $33.6B/$9.38 to $31.9B/$8.38 with GM at 44.9% (prior 47.2%) and F23E from $37.3B/$10.85 to $36.7B/$9.82. Downgrading to Neutral from Buy, PT to $75 (prior $90), ~8.9x our F22E EPS."

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 $67.26 yesterday.

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