Summit Research Cuts Price Target on Micron Technology (MU) to $25 Following Analyst Day

Notable Analyst Rating Changes 8/17: (ZUMZ) (SIMO) (JPM) Upgraded; (NTAP) (CSCO) (HOLI) Downgraded

UPGRADES
Susquehanna upgrades Zumiez, Inc. (Nasdaq: ZUMZ) from Neutral to Positive with a price target of $29.

Pacific Crest lifts Silicon Motion Technology (Nasdaq: SIMO) from Sector Weight to Overweight with a price target of $32.... More

Pre-Open Stock Movers 08/17: (AVEO) (ZU) (KITE) (TSLA) Higher; (ONTX) (MU) (EL) Lower (more...)

AVEO Pharmaceuticals (NASDAQ: AVEO) 121% HIGHER; announced an exclusive, worldwide license agreement with Novartis (NYSE: NVS) for the development and commercialization of AVEOs first-in-class, potent, humanized inhibitory antibody targeting growth differentiation factor 15 (GDF15), AV-380, and related antibodies, including modified or derivative forms of any such antibody.

zulily, inc. (Nasdaq: ZU) 49% HIGHER; Liberty Interctive (Nasdaq: LVNTA) and zulily, inc. (Nasdaq: ZU) announced that they... More

BofA/Merrill Lynch Downgrades Micron Technology (MU) to Neutral

BofA/Merrill Lynch downgraded Micron Technology (NASDAQ: MU) from Buy to Neutral with a price target of $19 (from 28.40) Analyst Simon Woo thinks Micron's capex target is too aggressive

For an analyst ratings summary and ratings history on Micron Technology... More

UBS Cuts Price Target on Micron Technology (MU) to $25 Following Capex Guidance

UBS maintained a Buy rating on Micron Technology (NASDAQ: MU), and cut the price target to $25.00 (from $27.00), following FY16 capex guidance. MU guided FY16 capex up to $5.5B largely due to R&D / non-supply related spending. Analyst Stephen Chin said that the valuation risk reward is still favorable for this part of the cycle, and technology updates were positive.... More

Wells Fargo Upgrades Micron Technology (MU) to Market Perform

Wells Fargo upgraded Micron Technology (NASDAQ: MU) from Underperform to Market Perform.

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 $16.95 yesterday.

Cowen Trims PT on Micron (MU) to $28 Following Analyst Day; CapEx Spot-on, but EPS Downside Likely

Cowen and Company lowers its price target on Micron (Nasdaq: MU) from $30 down to $28 and affirms its Outperform rating following the company's Analyst Day late last week.

Analyst Timothy Arcuri noted the following key points:

Financial

In guiding F2016 capex to $5.5B (mid-pt) - a number well above Street ~$4.2B models but spot in-line w/our model and preview - the company positioned this as an abnormally high number due to two key factors: 1) ~$700MM for Fab 10x shell (we thought upwards of $1B) and 2) ~$800MM related to... More

Cowen Cuts Price Target on Micron Technology (MU) to $28 on Likely EPS Downside

Cowen maintained an Outperform rating on Micron Technology (NASDAQ: MU), and cut the price target to $28.00 (from $30.00), as EPS downside seems likely. Analyst Timothy Arcuri said that the downside would be do to Aug QTD DRAM pricing.

Arcuri commented, "Big F2016... More

Wedbush Downgrades Micron Technology (MU) to Neutral

Wedbush downgraded Micron Technology (NASDAQ: MU) from Outperform to Neutral with a price target of $19.00 (from $26.00), saying they don't see prospects improving until 2016.

Analyst Betsy Van Hees commented, "We downgrade Micron (MU) to a NEUTRAL and reduce our PT to $19 as we now... More

Einhorn's Greenlight Capital Trims Apple (AAPL), Lam Research (LRCX) Stakes; Sells Nokia (NOK)

David Einhorn's Greenlight Capital filed its 13F for Q215 today.

New stakes include Twenty-First Century Fox and Michael Kors, and Greenlight also increased its Micron position. The firm trimmed its Apple and Lam Research positions, while also selling out of Nokia.

New Stakes
Applied Materials Inc (NASDAQ: AMAT) new 8,000,000 share position
DILLARDS, Inc. (NYSE: DDS) new 375,000 share position
HERTZ GLOBAL HOLDINGS, Inc. (NYSE: HTZ) new 5,400,000 share position
Michael Kors (NYSE: KORS) new 3,620,000 share position
Owens-Illinois Inc (NYSE:... More

Tepper's Appaloosa Shows New Stake in Alibaba (BABA), Apple (AAPL), Raises BofA (BAC), (more...)

David Tepper's Appaloosa Management filed its 13F for Q2 2015. Below is a summary of changes.

New Stakes
BABY AL (NYSE: BABA) new 1,360,000 share position
Apple Inc. (NASDAQ: AAPL) new 2,518,167 share position
Mylan Inc. (NASDAQ: MYL) new 989,528 share position

Raised Stakes
Bank of America Corp (NYSE: BAC) raised from 650,000 shares to 1,910,000 shares
CHICAGO BRIDGE & IRON CO. (NYSE:... More

Halvorsen's Viking Global Shows New Stakes in Aetna (AET), Amazon (AMZN), Fox (FOXA); Exits Lilly (LLY), Micron (MU), (more...)

Ole Andreas Halvorsen's Viking Global Investors LP released its 13F for the quarter ended June 30, 2015. Below is a summary comparing this quarter to last quarter.

New Stakes
Aetna Inc (NYSE: AET) new 3,097,599 share position
Alexion Pharmaceuticals (NASDAQ: ALXN) new 201,756 share position
Allergan Inc (NYSE: AGN) new 6,804,034 share position
Allstate Corp (NYSE: ALL) new 1,433,280 share position
Amazon.com Inc (NASDAQ: AMZN) new 2,282,561 share position
Ameriprise Financial (NYSE: AMP) new 1,614,743 share position
Anthem (NYSE:... More

Tiger Management Shows New Stakes in Lumber Liquidators (LL), Sony (SNE), (more...)

Tiger Management released its 13F for the quarter ended June 30, 2015. Below is a summary comparing this quarter to last quarter.

New Stakes
Allergan Inc (NYSE: AGN) new 44,500 share position
Concordia Healthcare (NASDAQ: CXRX) new 20,300 share position
Cornerstone Therapeutics, Inc. (NASDAQ: CRTX) new 34,800 share position
DEVRY EDUCATION GROUP, Inc. (NYSE: DV) new 861,000 share position
GRUBHUB, Inc. (NYSE: GRUB) new 31,600 share position
HOUGHTON MIFF (NASDAQ: HMHC) new 68,800 share position
LUMBER LIQUIDATORS HOLDINGS, Inc. (NYSE:... More

Micron Technology (MU) CFO Sees Spending $5.8B on CapEx in FY16

Micron (Nasdaq: MU) CFO Ernie Maddock, speaking at the company's Analyst Day today, said the company plans to spend as much as $5.8 billion on CapEx in FY16. The current expected CapEx range is $5.3 - $5.8 billion.

Klarman's Baupost Group Enters Frontier (FTR), Sanchez Energy (SN) (more...) - 13F

Seth Klarman Baupost Group released its 13F for the quarter ended June 30, 2015. Below is a summary comparing this quarter to last quarter.

New Stakes
Biotie Therapies (NASDAQ: BITI) new 869,643 share position *
Frontier Communications (NASDAQ: FTR) new 13,500,000 share position
SANCHEZ ENERGY CORPORATION (NYSE: SN) new 619,505 share position

Raised Stakes... More