Micron shares tumble after second-quarter forecast miss estimates
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December 19, 2024 8:10 AM EST
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December 19, 2024 6:28 AM EST
Bernstein SocGen Group analyst Mark Li reiterated an Outperform rating and $120.00 price target on Micron Technology (NASDAQ: MU).
The analyst comments "Micron FQ2 guidance was a big miss mainly due to a temporary slow down in eSSD, but DRAM still relatively solid. FQ1 results were in line but the 9% QoQ rev drop guided for FQ2 missed even our cautious forecast, mostly due to meaningful but temporary moderation in eSSD. DRAM outlook is solid but will drag FQ2 GM 1ppt down QoQ. On HBM, Micron increased CY25 TAM estimate & painted a... More
December 19, 2024 5:44 AM EST
JPMorgan analyst Harlan Sur lowered the price target on Micron Technology (NASDAQ: MU) to $145.00 (from $180.00) while maintaining a Overweight rating.
The analyst comments "Micron reported in-line Nov-Qtr revenue while EPS was modestly above expectations as robust DRAM bit shipments and a high-single-digit improvements in DRAM pricing offset weakness in NAND bit shipments and pricing. Datacenter revenue mix (HBM, server DRAM, enterprise SSD) grew 40% Q/Q and represented >50% of total revenues and a strong reflection of HBM and eSSD share gains and strong AI demand pull. Feb-Qtr revenue was guided down 9% Q/Q and came... More
December 19, 2024 5:10 AM EST
Wolfe Research analyst Chris Caso lowered the price target on Micron Technology (NASDAQ: MU) to $175.00 (from $200.00) while maintaining a Outperform rating.
The analyst comments "Maintain Outperform rating; price target reduced to $175 price target. Our $175 price target is based on ~11.7x our CY26 EPS estimate of... More
December 19, 2024 5:09 AM EST
Stifel analyst Brian Chin lowered the price target on Micron Technology (NASDAQ: MU) to $130.00 (from $135.00) while maintaining a Buy rating.
The analyst comments "Micron reported in-line F1Q(Nov) while guiding F2Q(Feb) revenue/earnings lower QQ, missing ours/ consensus estimates.... More
