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Fly News Breaks for March 20, 2017
Mar 20, 2017 | 08:18 EDT
Nomura analyst Romit Shah says that DRAM spot prices "flattened" over the last month and fell almost 2% last week. The analyst believes that investors are too focused on DRAM pricing trends' impact on Micron ,and he says that the performance of the stock has tended to correlate with its operating margin. The analyst thinks that the company's operating margin during its May quarter will reach 26%, which, based on historical norms, should result in a share price of $32, versus the stock's current level of $25.80. Shah keeps a Buy rating on the shares.
News For MU From the Last 2 Days
Oct 16, 2017 | 08:55 EDT
Friday's total option volume of 16.4 million contracts resulted in net open interest growth of 2.55 million calls and 2.75 million puts. AT&T (T), (JD), Micron (MU) and Comcast (CMCSA) saw the greatest growth. Top five new positions opened include 28k MBIA (MBI) Feb-18 9 puts, 25k Comcast (CMCSA) Nov-17 37.5 calls, 24k Blue Apron (APRN) Jan-18 8 calls, 24k Blue Apron (APRN) Jan-18 8 puts and 20k Intel (INTC) Feb-18 41 calls.
Oct 16, 2017 | 08:18 EDT
In a research note titled "MU Sold Shares, But You Shouldn't," Nomura Instinet analyst Romit Shah raised his price target shares of Micron Technology to $50 from $45 and keeps a Buy rating on the name. The chipmaker closed Friday down 18c to $40.40. The analyst puts investor sentiment following last week's $1.2B secondary somewhere between "healthy skepticism and mild distrust." He believes dilution concerns are "overblown," however. Management's guidance to reduce net debt to zero in fiscal year was an important announcement, Shah argues.
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