Cowen Says to Buy Micron (MU) on Today's Weakness; Sees Cost Execution Finally Improving
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Go back to Cowen Says to Buy Micron (MU) on Today's Weakness; Sees Cost Execution Finally Improving
July 1, 2016 8:12 AM EDT
Susquehanna reiterated a Positive rating and $18.00 price target on Micron Technology (NASDAQ: MU) as industry fundamentals continue to improve.
Analyst Mehdi Hosseini commented, "MU's May Q print and Aug Q guide appears more intimidating than it really is, as we believe MU's fundamentals... More
July 1, 2016 6:31 AM EDT
Micron Technology (NASDAQ: MU) is recently down $1.25 to $12.51 in the premarket after reporting less than expected Q3 results and guidance. July weekly call option implied volatility is at 168, July is at 59, August is at 52; compared to its 52-week range of 35 to 84.
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June 30, 2016 4:11 PM EDT
(Reuters) - Memory-chip maker Micron Technology Inc (NASDAQ: MU) said it would lower costs, including by cutting jobs and focusing on fewer programs, after its hopes of reversing its fortunes this year were thwarted by a persistently challenging market.
Demand for Micron's DRAM chips for personal computers has continued to fall, while it faces stiff competition from rivals such as Samsung in the market of NAND chips for devices like smartphones.
Micron's sales have fallen more than expected for three quarters now including the latest third quarter, and the company on... More
June 30, 2016 4:11 PM EDT
Micron Technology (NASDAQ: MU) sees Q4 adjusted loss of $0.24 - $0.16 per share and revenue of $2.9 - $3.2 billion. The Street sees Q4 EPS of $0.04 and revenue of $3.2 billion.
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June 30, 2016 4:03 PM EDT
Micron Technology (NASDAQ: MU) reported Q3 EPS of ($0.08), $0.01 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $2.96 billion.
"Although we have made good progress in deploying our advanced DRAM and NAND technologies, we continue to face challenging market conditions," said Micron CEO Mark Durcan. "To address the current market... More
