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MU

Micron

$33.32

0.03 (0.09%)

05:29
05/31/19
05/31
05:29
05/31/19
05:29

Micron price target lowered to $54 from $60 at Stifel

Stifel analyst Kevin Cassidy lowered his estimates for Micron Technology to reflect the "many uncertainties" associated with the Huawei ban as well as updated memory pricing. Shipments into China accounted for 32% of Micron's fiscal 2018 revenue and Huawei accounts for 13% of the company's revenue, Cassidy tells investors in a research note, citing management. Further, based on recent inSpectrum data, the analyst now estimates DRAM selling prices will decline 23% quarter-over-quarter in the May quarter, compared to his prior estimate of down 20%. For NAND, Cassidy estimates a 14% quarter-over-quarter average selling price decline compared to his previous estimate of down 5%. As a result, he cut his May quarter earnings per share estimate for Micron to 72c from 85c and revenue estimate to $4.56B from $4.79B. He also reduced his fiscal 2020 earnings estimate to $6.00 from $6.75 and revenue estimate to $21.475B from $21.85B. Cassidy also dropped his price target for Micron shares to $54 from $60 while keeping a Buy rating on the name.

  • 25

    Jun

MU Micron
$33.32

0.03 (0.09%)

05/16/19
MSCO
05/16/19
NO CHANGE
MSCO
Micron, Skyworks, Qorvo among chipmakers exposed to Huawei, says Morgan Stanley
Following media reports discussing a potential ban of sales from U.S. companies to Huawei, Morgan Stanley analyst Joseph Moore identified semiconductor companies with exposure to the company, including Skyworks (SWKS), Qorvo (QRVO), Broadcom (AVGO), Analog Devices (ADI), ON Semiconductor (ON), Maxim (MXIM), Texas Instruments (TXN), Xilinx (XLNX), Micron (MU) and Inphi (IPHI). In his note, Moore recalled that a similar ban on ZTE (ZTCOY) last year was ultimately removed.
05/16/19
BNCH
05/16/19
NO CHANGE
BNCH
II-VI, Lumentum may be hurt by Huawei news, says Benchmark
After the U.S. Commerce Department added Huawei Technologies and 70 affiliates to its "Entity List," which bans the Chinese company from acquiring components and technology from U.S. companies without government approval, Benchmark analyst Mark Miller noted that prior restrictions negatively impacted II-VI (IIVI), which counts Huawei among its customers. He also believes Lumentum (LITE) may be unfavorably impacted as Huawei represents about 15% of its revenue. Huawei has contributed about 13% of Micron's (MU) sales in the last two quarters and shares of Western Digital (WDC) often trade in a similar manner to Micron, added Miller. Others that he sees potentially being negatively impacted by the Huawei news include IPG Photonics (IPGP), Coherent (COHR), nLight (LASR) and Veeco (VECO).
05/20/19
DBAB
05/20/19
NO CHANGE
Target $45
DBAB
Buy
Micron price target lowered to $45 from $48 at Deutsche Bank
Deutsche Bank analyst Sidney Ho lowered his price target for Micron Technology to $45 from $48 after hosting a week of investor meetings with management. While there are some signs that support a second half of the year demand recovery, driven primarily by the end of inventory depletion, there are also uncertainties in terms of the macro environment, especially as it relates to the U.S.-China trade tension, Ho tells investors in a research note. He keeps a Buy rating on Micron despite the reduced price target.
05/23/19
CLVD
05/23/19
NO CHANGE
CLVD
Micron revenue, EPS estimates lowered at Cleveland Research
Cleveland Research analyst Chandler Converse lowered his 2019 and 2020 revenue and EPS estimates for Micron on softer end demand and channel work that points to some push-out in the timing of a market turn in DRAM and NAND pricing.

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TGT

Target

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INTC

Intel

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BA

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GS

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ESLT

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Amgen

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APLS

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ABC

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