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MU

Micron

$34.12

0.23 (0.68%)

06:13
12/19/18
12/19
06:13
12/19/18
06:13

Micron price target lowered to $36 from $48 at Piper Jaffray

Piper Jaffray analyst Harsh Kumar lowered his price target for Micron Technology to $36 and keeps a Neutral rating on the shares. Micron provided guidance well below Street expectations due to a broad-based slowdown in several key markets, an inventory build, CPU shortages, and a weakening mobile unit landscape, Kumar tells investors in a post-earnings research note. Today, supply still appears to be ahead of demand, and Micron is reducing its capital expenditures to slow DRAM and NAND bit growth, adds the analyst. Kumar says he didn't walk away from yesterday's results and earnings call "with any hard facts that lead us to believe the second half of 2019 will mark the bottom."

  • 08

    Jan

MU Micron
$34.12

0.23 (0.68%)

12/19/18
RBCM
12/19/18
DOWNGRADE
Target $40
RBCM
Sector Perform
Micron downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Amit Daryanani downgraded Micron Technology to Sector Perform and lowered his price target for the shares to $40 from $59.
12/17/18
COWN
12/17/18
NO CHANGE
Target $45
COWN
Outperform
Micron price target lowered to $45 from $62 at Cowen
Cowen analyst Karl Ackerman lowered his price target on Micron to $45 from $62 and reduced his CY19 estimate to $7.00 from $8.25, which he notes is below the Street's $9.25. He believes the buyside may have already priced in even lower earnings for 2019. He said the near-term remains challenged and expects the company to significantly guide below consensus after they pre-announced an in-line quarter just a month ago. However, Ackerman maintained his Outperform rating on Micron shares.
12/13/18
MKMP
12/13/18
NO CHANGE
Target $50
MKMP
Buy
Micron FY19 EPS lowered at MKM Partners on slowing 'bit growth'
MKM Partners analyst Ruben Roy kept his Buy rating and $50 price target on Micron but lowered his FY19 EPS view to $10.10 from $11.11 ahead of its earnings report scheduled for next Tuesday. The analyst believes that the "complexities related to DRAM scaling coupled with likely capital expenditure cuts will limit bit growth over the next few years", pressuring next year's growth rate below 20%. With deteriorating demand trends into year-end, Roy states that a more conservative approach to his DRAM average selling price assumptions is warranted.
12/11/18
GSCO
12/11/18
NO CHANGE
GSCO
Goldman Sachs lowers price targets on Micron, Western Digital after Asia tour
Goldman Sachs analyst Toshiya Hari lowered his price target on Neutral-rated Micron (MU) to $44 from $45 and on Western Digital (WDC) to $41 from $47 while also lowering his EPS view on Nvidia (NVDA) to $6.80 from $7.40 and AMD (AMD) to 50c from 52c following his tech/semi's-focused tour in Asia that included meetings with over 25 supply chain companies. The analyst claims that the findings and datapoints from the discussions were "mostly negative, especially those related to memory, HDDs, semi cap, GPUs, and smartphones". Hari sees the near-term server demand as "weak" with flattish Q1, and AI adoption being lower than expected in the supply chain. The analyst notes that industry participants saw AMD with continued market share gains as it launches its EPYC 2 products and the cadence for Intel (INTC) platform slowing as its upgrade cycle lengthens to three years from two. For Nvidia, the analyst also expects the ongoing inventory correction to spill into the April quarter.

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LLY

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