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MU

Micron

$32.62

-0.7 (-2.10%)

05:47
06/03/19
06/03
05:47
06/03/19
05:47

Micron price target lowered to $32 from $45 at Nomura Instinet

Nomura Instinet analyst David Wong lowered his price target for Micron Technology to $32 from $45 while maintaining a Neutral rating on the shares. The analyst believes the global memory industry, and Micron, will grow at a rate similar to the overall semiconductor industry, which he estimates at 7%-9% from 2020 to 2025. In recent weeks, DRAM spot prices have continued to fall, as have NAND TLC spot prices, Wong tells investors in a research note. Further, he believes the U.S. action against Huawei and "various continuing international trade tensions create significant uncertainty" and risk to his earlier hope that there might be some stabilizing in memory through 2019. As a result, Wong lowered his 2020 earnings per share estimate for Micron to $2.47 from $3.30.

  • 25

    Jun

MU Micron
$32.62

-0.7 (-2.10%)

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.
05/31/19
STFL
05/31/19
NO CHANGE
Target $54
STFL
Buy
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.
05/31/19
DBAB
05/31/19
NO CHANGE
Target $45
DBAB
Buy
Micron estimates lowered on Huawei, pricing weakness at Deutsche Bank
To reflect the recent stop-shipment to Huawei along with incremental memory pricing weakness, Deutsche Bank analyst Sidney Ho lowered his 2019 earnings per share estimate for Micron Technology to $3.30 from $4.40 and 2020 estimate to $3.75 from $4.70. While memory suppliers have taken utilization actions in an attempt to bring the memory market back to supply/demand balance, the Huawei ban will likely delay the recovery and potentially lead to near term share shift toward Micron's competitors, Ho tells investors in a research note. The analyst currently anticipates some resolution for the Huawei situation will be reached by the end of 2019. If the issues linger into 2020, estimates for Micron have additional downside risk, adds Ho. However, he believes downside risk is limited in shares of Micron and that the risk/reward is attractive. Ho keeps a Buy rating on the name.

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