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MU

Micron

$32.71

-0.47 (-1.42%)

17:07
06/25/19
06/25
17:07
06/25/19
17:07

Micron says it has mitigated 90% of China tariff impact

Says U.S. tariffs on goods from China had less than a 30 basis point impact on gross margin. Says still expects FY19 capital expenditures of $9B. Says Huawei ban will negatively impact Q4 revenue.

  • 25

    Jun

  • 09

    Jul

MU Micron
$32.71

-0.47 (-1.42%)

06/24/19
MZHO
06/24/19
NO CHANGE
Target $44
MZHO
Buy
Micron price target lowered to $44 from $47 at Mizuho
Mizuho analyst Vijay Rakesh said he expects weak May quarter results and August quarter guidance from Micron when the company reports on June 25, given the Huawei ban, weaker handset demand, an uncertain rebound in hyperscale demand and DRAM and NAND prices trending below previous expectations. While he keeps a Buy rating on Micron shares, Rakesh lowered his estimates and cut his price target on the stock to $44 from $47 ahead of Tuesday's report.
06/21/19
CLVD
06/21/19
NO CHANGE
CLVD
Micron estimates lowered for May quarter at Cleveland Research
Cleveland Research reduced its May quarter assumptions for Micron to below the mid-point of revenue and EPS guidance given that its checks indicate that the timing of a DRAM market turn is pushed out to the Aug quarter of 2020 and increased their conviction that NAND will continue to be oversupplied in the second half of 2019.
06/21/19
JPMS
06/21/19
NO CHANGE
Target $50
JPMS
Overweight
Micron price target lowered to $50 from $64 at JPMorgan
JPMorgan analyst Harlan Sur lowered his estimates for Micron Technology ahead of the company's fiscal Q3 results on June 25. His reduced estimates reflect the component bans to Huawei, a 13% customer in the first half of fiscal 2019, worse than anticipated DRAM pricing, and expectations of a slower recovery in back half of this year and into next year on macro uncertainty and trade tension. The analyst believes blended DRAM pricing in the March, April and May timeframe declined by ~30% versus his previously estimated 25% decline. Sur now expects Micron's fiscal Q3 revenue and earnings to be below the low-end of the prior guided range and he estimates Q4 earnings per share troughing at around 15c-25c. The "shape of the recovery" may be negatively impacted by trade tensions with potential demand destruction in consumer segments, Sur tells investors in a research note. However, with Micron shares trading near book value, the analyst believes the risk/reward is favorable for investors to take a long position. As such, he keeps an Overweight rating on the name.
06/21/19
BARD
06/21/19
NO CHANGE
Target $28
BARD
Underperform
Baird cuts Micron price target to $28 on increasing memory inventories
Baird analyst Tristan Gerra lowered his price target for Micron Technology to $28 from $32 and keeps an Underperform rating on the shares. Micron closed yesterday up 21c to $34.15. DRAM and NAND inventories have deteriorated quarter-over-quarter and are now about twice the normal levels in the supply chain, Gerra tells investors in a research note. Further, the analyst says that production cuts are "more muted" than he expected, according to his channel checks. He continues to expect the current downturn to extend "well into" 2020. As a result, Gerra cut his 2019 earnings per share estimate for Micron to $5.76 from $6.18 and 2020 estimate to $1.00 from $3.00.

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