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MU

Micron

$49.35

0.38 (0.78%)

, STX

Seagate

$54.77

0.43 (0.79%)

05:55
09/10/19
09/10
05:55
09/10/19
05:55

Micron Technology price target raised to $58 from $45 at KeyBanc

KeyBanc analyst Weston Twigg raised his price target for Micron Technology (MU) to $58 from $45 while keeping an Overweight rating on the shares. The chipmaker closed Monday up 16c to $49.13. The analyst's updated memory supply model suggests that supply remains well managed as memory producers wait for a demand recovery. Twigg is also seeing signs of tightening supply in some markets as demand elasticity for NAND kicks in, and as NAND and DRAM content loading in phones, PCs, and other devices continues to grow. The analyst expects both NAND and DRAM inventories to decline in the second half of 2019. Further, NAND pricing is likely to steadily increase through the second half and DRAM pricing is likely to stabilize by the end of the year, Twigg tells investors in a research note. He cites "increasing signs of stabilization" for his price target boost on Micron. The analyst keeps Sector Weight ratings on Seagate Technology (STX), Silicon Motion Technology (SIMO) and Western Digital (WDC).

MU

Micron

$49.35

0.38 (0.78%)

STX

Seagate

$54.77

0.43 (0.79%)

SIMO

Silicon Motion

$33.64

0.455 (1.37%)

WDC

Western Digital

$62.90

0.67 (1.08%)

  • 10

    Sep

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    Sep

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    Sep

MU Micron
$49.35

0.38 (0.78%)

08/12/19
SBSH
08/12/19
NO CHANGE
Target $30
SBSH
Sell
Citi keeps Sell on Micron, but thinks stock could reach $60 longer term
After hosting investor meetings with management, Citi analyst Christopher Danely keeps a Sell rating on Micron Technology with a $30 price target. The analyst believes the DRAM downturn last into the first half of 2020. However, longer term, he thinks Micron's earnings per share can get back to the peak of $11.74 and the stock could reach $60-plus.
09/04/19
MZHO
09/04/19
NO CHANGE
Target $50
MZHO
Buy
Mizuho boosts Micron target to $50, Western Digital target to $64
Mizuho analyst Vijay Rakesh raised his price target for Micron Technology (MU) to $50 from $44 and his target for Western Digital (WDC) to $64 from $61. The analyst reiterates Buy ratings on both names. His channel checks in the supply chain point to positive trends for NAND and DRAM. The checks show improving NAND pricing trends, customer concerns over supply stability into 2020 leading to increasing requests for long-term supply agreements in NAND, and flattish production bit growth in DRAM, Rakesh tells investors in a research note. He believes current NAND and DRAM pricing trends are better than expectations entering the second half of 2019.
09/04/19
DBAB
09/04/19
NO CHANGE
Target $55
DBAB
Buy
Micron shares will find support on easing DRAM price risk, says Deutsche Bank
Global trade tensions are shifting some of the bargaining power from memory buyers to memory suppliers despite "still-elevated" inventory levels, Deutsche Bank analyst Sidney Ho tells investors in a research note. Further, the impact of Japan-Korea dispute are not as bad as feared after multiple media outlets reported that Japan has approved two shipments of photoresists to South Korea, adds the analyst. Ho points out that DRAM spot prices spiked in July and have since retreated as expected, but are still ~10% above the June levels. He believes risks of further significant price declines are diminishing and sees Micron's fiscal Q4 as the "trough quarter" in the current cycle. Given that the equity market has historically led business fundamentals by about one quarter, Micron shares will find support at the current level, contends Ho. The analyst, who sees "risks to the upside as business improves," affirms a Buy rating on Micron shares with a $55 price target.
08/08/19
GSCO
08/08/19
NO CHANGE
GSCO
Memory summit reinforces Goldman view that NAND pricing set to improve
After attending the Flash Memory Summit on August 6 and 7, Goldman Sachs analyst Mark Delaney said his meetings and talks with industry participants reinforced his view that NAND pricing is already showing signs of improvement and increased his confidence that blended NAND pricing will be up sequentially in the fourth quarter. Meanwhile, he still thinks DRAM pricing is likely to fall in the near-term, but said the rate of Q4 decline could be "somewhat less severe" than he previously expected. Delaney has a Buy rating on Micron (MU), a Neutral rating on Western Digital (WDC) and a Buy rating on Lam Research (LRCX), which he believes is well-positioned to benefit from continued scaling in NAND.
STX Seagate
$54.77

0.43 (0.79%)

06/26/19
WEDB
06/26/19
INITIATION
WEDB
Neutral
Seagate initiated with a Neutral at Wedbush
Wedbush analyst Mathew Bryson initiated Seagate with a Neutral rating.
06/27/19
06/27/19
INITIATION
Target $35

Neutral
Seagate initiated with a Neutral on market concerns, valuation at Wedbush
As previously reported, Wedbush analyst Mathew Bryson initiated Seagate with a Neutral rating and a $35 price target. While the analyst believes Seagate's positioning within the HDD market has improved, his concerns around the general health of the market, as well as the company's relatively high valuation keep him on the sidelines.
08/08/19
08/08/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Apple (AAPL), Samsung (SSNLF), HP Enterprise (HPE), HP Inc. (HPQ), and Dell Technologies (DELL) initiated with an Equal Weight at Barclays. 2. Avalara (AVLR) initiated with an Outperform at William Blair. 3. BlueLinx (BXC) initiated with a Buy at B. Riley FBR. 4. Corning (GLW) initiated with an Overweight at Barclays while Seagate (STX) was initiated with an Underweight, and Western Digital (WDC) was initiated with an Equal Weight. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/07/19
LEHM
08/07/19
INITIATION
LEHM
Underweight
Seagate initiated with an Underweight at Barclays
Barclays analyst Tim Long initiated Seagate (STX) with an Underweight rating and a price target of $37. The analyst's negative view is based on the HDD market being in secular decline, Seagate having been slightly behind Western Digital (WDC) in high capacity nearline drives, and the likelihood that top-line pressure and a potential increase in research and development "could disrupt the capital return to shareholders."
SIMO Silicon Motion
$33.64

0.455 (1.37%)

04/22/19
04/22/19
DOWNGRADE
Target $34

Underweight
Silicon Motion cut to Underweight at Morgan Stanley on IC market share loss
As previously reported, Morgan Stanley analyst Charlie Chan downgraded Silicon Motion to Underweight from Equal Weight and lowered his price target to $34 from $34.90. The analyst notes that while the solid-state drive, or SSD, market looks "ready to ripen", chip design companies in Asia are "commoditizing the controller IC market", citing his findings that the competition between Silicon Motion and Taiwan's Phison has "intensified." Chan adds that his industry checks also suggest that "key customer ADATA" is planning to allocate more SSD controller IC spend to Taiwan's Realtek at the expense of Silicon Motion.
08/01/19
ROTH
08/01/19
NO CHANGE
Target $45
ROTH
Buy
Silicon Motion price target lowered to $45 from $50 at Roth Capital
Roth Capital analyst Suji Desilva lowered his price target for Silicon Motion to $45 from $50 after the company reported Q2 revenue weaker sequentially and below consensus reflecting NAND memory market and China hyperscale data center macro demand weakness. The analyst believes hyperscale SSD Solutions business will take time to recover, but core SSD controllers and eMMC/UFS are poised for second half of the year growth. Desilva reiterates a Buy rating on the shares.
08/01/19
JPMS
08/01/19
DOWNGRADE
Target $40
JPMS
Neutral
Silicon Motion downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Gokul Hariharan downgraded Silicon Motion Technology to Neutral from Overweight and lowered his price target for the shares to $40 from $50.
05/06/19
RILY
05/06/19
NO CHANGE
Target $55
RILY
Buy
Silicon Motion price target raised to $55 from $52 at B. Riley FBR
B. Riley FBR analyst Craig Ellis raised his price target for Silicon Motion Technology to $55 from $52 saying the company's "strong trough execution" increases his confidence in a recovery. The analyst reiterates a Buy rating on the shares.
WDC Western Digital
$62.90

0.67 (1.08%)

09/09/19
BTIG
09/09/19
NO CHANGE
Target $70
BTIG
Buy
Western Digital positioned to capture renewed hyperscale investment, says BTIG
BTIG analyst Edward Parker kept his Buy rating and $70 price target on Western Digital, saying that the discussions with its management last week reflected the company's confidence in being able to capture the resumption in enterprise hyperscale investing. The analyst is also positive on the company's view that the NAND flash inventory correction is progressing and should be "in balance" by year-end. Parker further cited Western Digital management's confidence that it can capture market share in enterprise SSD amid the "96L transition", which the company sees as "progressing well".
09/06/19
CHLM
09/06/19
NO CHANGE
Target $88
CHLM
Buy
Western Digital price target raised to $88 from $64 at Craig-Hallum
Craig-Hallum analyst Christian Schwab raised his price target for Western Digital to $88 from $64 and maintained a Buy rating following comments from the company at an investor conference on Thursday. In a research note to investors, Schwab says management reiterated that the company is seeing NAND pricing improving and expects excess industry inventory to be eliminated by the end of the calendar year. Schwab says that with NAND ASPs firming and expectations for continued disciplined CapEx, he believes the company has a path to driving over $18B in annual revenue, at which point he believes the company can operate at the mid-point of its 20%-25% operating margin target and drive annual EPS power of roughly $11.
09/06/19
BNCH
09/06/19
NO CHANGE
Target $46
BNCH
Sell
Western Digital risk potential exceeds possible gains, says Benchmark
Noting that Western Digital has risen 70% over the past three months, Benchmark analyst Mark Miller said he believes the shares are fully pricing in improvements expected into FY21 and also discounting risks associated with the outlook. The analyst, who attributes the move higher to recent stabilization of NAND prices and inventory drawdowns, thinks the potential risks exceed the possible gains and he reiterates a Sell rating on Western Digital, though he increased his price target on the stock to $46 from $40.

TODAY'S FREE FLY STORIES

BRX

Brixmor

$20.11

0.27 (1.36%)

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EHTH

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USAT

USA Technologies

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TKR

Timken

$44.78

0.41 (0.92%)

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BPL

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LRLCY

L'Oreal

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SSNC

SS&C

$50.55

0.01 (0.02%)

12:33
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12:33
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Conference/Events
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  • 25

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$300.20

0.523619 (0.17%)

12:31
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General news
Trump says he can leave IP out and get China deal done »

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SPDR S&P 500 ETF Trust

$300.20

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EEFT

Euronet

$147.35

0.92 (0.63%)

12:27
09/20/19
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12:27
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Conference/Events
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SPX

S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

$300.20

0.523619 (0.17%)

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$300.20

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ADM

Archer Daniels

$41.10

0.21 (0.51%)

AGU

Agrium

$0.00

(0.00%)

CF

CF Industries

$49.97

-0.07 (-0.14%)

MON

Bought by BAYRY

$0.00

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POT

Potash

$0.00

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ANDE

Andersons

$26.45

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SYT

Syngenta

$0.00

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BG

Bunge

$56.02

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IPI

Intrepid Potash

$3.41

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CMP

Compass Minerals

$57.07

-0.985 (-1.70%)

03/08/13
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  • 25

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REGN

Regeneron

$295.39

9.11 (3.18%)

12:25
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12:25
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Options
Regeneron call volume above normal and directionally bullish »

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FTCH

Farfetch

$8.95

0.04 (0.45%)

12:25
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MGI

MoneyGram

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cbdMD

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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SONO

Sonos

$15.01

-0.065 (-0.43%)

12:15
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Sonos put volume heavy and directionally bearish »

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MRAM

Everspin Technologies

$6.52

-0.09 (-1.36%)

12:12
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SAIC

SAIC

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ALNY

Alnylam

$86.18

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12:11
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12:11
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  • 27

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SNPS

Synopsys

$137.26

0.09 (0.07%)

12:10
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12:10
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Conference/Events
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  • 26

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TYL

Tyler Technologies

$259.35

-0.22 (-0.08%)

12:10
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  • 25

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AAPL

Apple

$220.96

0.05 (0.02%)

, MCD

McDonald's

$210.55

-0.01 (-0.00%)

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On The Fly
Fly Intel: Wall Street's top stories at midday »

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FB

Facebook

$190.17

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MDR

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$2.70

1.12 (70.89%)

CRC

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$11.86

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ROKU

Roku

$114.30

-19.41 (-14.52%)

W

Wayfair

$123.39

-5.275 (-4.10%)

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