Micron Technology (MU) Tops Q3 EPS by 14c, Offers Guidance
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Wells Fargo Reiterates Overweight Rating on Micron Technology (MU)
June 28, 2024 5:21 AM EDTWells Fargo analyst Aaron Rakers reiterated an Overweight rating and $190.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Gov't Incentives: During F3Q24 MU received $33M in gov't incentives to offset capex vs. $149M in F2Q24; $184M a yr ago. MU now... More
Cantor Fitzgerald Reiterates Overweight Rating on Micron Technology (MU)
June 27, 2024 7:58 AM EDTCantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and $180.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "While May Q EPS results came in better than consensus ($0.62 vs. cons $0.48), the August Q EPS guide ($1.08), while better than consensus ($1.02), was below buyside expectations ($1.20+) sending shares lower post-close. Obviously this is disappointing but clearly fits with traditional conservatism from Microns management team. All eyes were on rumored poor yields for Microns HBM3E which management dismissed highlighting greater than $100M in revenues in the May Q at GMs that exceeded overall... More
CFRA Reiterates Buy Rating on Micron Technology (MU)
June 27, 2024 7:50 AM EDTCFRA analyst Angelo Zino reiterated a Buy rating and $170.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "We keep our 12-month target at $170, on a P/E of 13.5x our CY 25 EPS view, near historical. We raise our FY 24 (Aug.) EPS to $1.17 from $1.04 while... More
Barclays Reiterates Overweight Rating on Micron Technology (MU)
June 27, 2024 6:22 AM EDTBarclays analyst Tom O\'Malley reiterated an Overweight rating and $145.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Results came in largely as expected and to be honest what could the company possibly have done to impress with where... More
Micron Technology (MU) PT Lowered to $153 at UBS, 'Cut Through The Noise And Keep Following Gross Margins Higher', 'remains one of our top AI play'
June 27, 2024 6:17 AM EDTUBS analyst Timothy Arcuri lowered the price target on Micron Technology (NASDAQ: mu) to $153.00 (from $155.00) while maintaining a Buy rating.
The analyst comments "Guidance was a bit tepid and we did not love the FQ1 (Nov) gross margin commentary, but we still think it's ultimately just noise and gross margin keeps moving higher through most, if not all, of C2025... More
BofA Securities Reiterates Buy Rating on Micron Technology (MU), 'we now anticipate sales to grow +78%/+41% YoY'
June 27, 2024 6:06 AM EDTBofA Securities analyst Vivek Arya reiterated a Buy rating and $170.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "FQ2 modestly above, FQ3 came in-line. As anticipated, Micron (MU) has now begun fully ramping HBM3e (NVDA H200s), expected to reach several hundred million sales in FY24 and multi-billion... More
Citi Reiterates Buy Rating on Micron Technology (MU), Top Pick
June 27, 2024 5:37 AM EDTCiti analyst Christopher Danely reiterated a Buy rating and $175.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Yesterday after the close, Micron reported above Consensus results and guidance as previewed driven by higher pricing. We believe MU stock is selling off... More
Mizuho Reiterates Outperform Rating on Micron Technology (MU), 'will continue to see HBM strength'
June 27, 2024 5:36 AM EDTMizuho analyst Vijay Rakesh reiterated an Outperform rating and $155.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "We believe MU will continue to see HBM strength as we continue to estimate C25E HBM revenues in the ~$3-4B range. We... More
Stifel Reiterates Buy Rating on Micron Technology (MU), 'we remain encouraged'
June 27, 2024 5:32 AM EDTStifel analyst Brian Chin reiterated a Buy rating and $165.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Though Microns earnings and quarterly outlook exceeded consensus, expectations were clearly elevated ahead of Wednesdays print, causing the stock to trade-off in the... More
Baird Reiterates Outperform Rating on Micron Technology (MU)
June 27, 2024 5:31 AM EDTBaird analyst Tristan Gerra reiterated an Outperform rating and $172.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Higher capex, primarily dedicated to the ramp of HBM, is in support of the strong demand ahead notably driven by AI.... More
Micron Technology (MU) PT Raised to $180 at JPMorgan, 'We believe the stock should continue to outperform through 2024'
June 27, 2024 5:30 AM EDTJPMorgan analyst Harlan Sur raised the price target on Micron Technology (NASDAQ: MU) to $180.00 (from $130.00) while maintaining a Overweight rating.
The analyst comments "Micron reported better-than-expected May-Qtr results (Revenue, GMs, and EPS ) and provided and a stronger EPS outlook for the Aug-Qtr outlook (in-line Revenue/GMs but better operating leverage) reflecting a strong HBM ramp and continued DRAM/NAND pricing increases as the team continues to move through the early stages of the memory cycle up-cycle. Overall this is in-line with our preview (see note here). The team expects DRAM... More
Micron Technology (MU) PT Raised to $158 at Goldman Sachs, 'we see the stock’s recent pullback, if anything, as an opportunity to add to positions'
June 27, 2024 5:29 AM EDTGoldman Sachs analyst Toshiya Hari raised the price target on Micron Technology (NASDAQ: MU) to $158.00 (from $138.00) while maintaining a Buy rating.
The analyst comments "While Micron reported strong FY3Q (May) results that comfortably exceeded Street consensus, the stock is... More
