Technology

Wedbush raised the price target on Micron Technology (MU) to $130 from $103 while noting a “favorable industry outlook” and maintaining its outperform rating. Micron aims to book its first High Bandwidth Memory revenue in fiscal Q2 2025 and is “on track to ship production bits this quarter” while still “forecasting booking hundreds of millions in revenue this year,” analyst Matt Bryson added. The company expects industry supply-demand to “remain favorable for memory makers” and is expected to benefit from “a sustained industry uptick,” Wedbush said. While HBM remains a “primary point of investor interest,” Micron is also succeeding in other high margin areas including an expansion in data center Solid State Drives, the analyst said. Micron Technology has an average rating of outperform and price targets ranging from $80 to $225, according to analysts polled by Capital IQ.

By Dan Gallagher Score a big one for the “buy the dip” crowd. Micron Technology has been in an awfully big dip. The memory chip maker is no stranger to harsh sales cycles, but an inventory glut made the last one particularly bad, after customers spooked by pandemic shortages severely over-ordered. Micron’s revenue slid 49% in its latest fiscal year — its worst annual decline since at least the late 1980s, which is as far back as data tracked by S&P Global Market Intelligence goes. It also generated a record operating loss of $5.7 billion in fiscal 2023, the first time it has lost money on that basis in more than a decade. But investors have been betting on a recovery, especially after Micron’s quarterly revenue growth turned positive for the fiscal first quarter that ended in November. The company’s latest results for the fiscal second quarter delivered even more

Micron Technology (MU) crushed forecasts with its fiscal Q2 results, posting an unexpected profit and above-consensus revenue, but Morgan Stanley said in a note the real surprise was the chipmaker’s upbeat outlook for the ongoing quarter. Morgan Stanley analysts said Thursday that while they believe Micron’s financial performance may weaken during H2, the company’s share price will likely continue to strengthen, especially over the near term. Micron Technology benefitted from its pricing for memory and storage products in the most recent quarter, Morgan Stanley said, noting that strength was a big factor in its Q2 earnings. The analysts also acknowledged being wrong on the stock price. “We recognize that we have been (very) wrong on the stock,” they wrote, but also added a caveat they “see better value elsewhere” among chipmakers in the memory sector. Morgan Stanley increased its price target for Micron to $98 from $78 with an underweight

Micron Technology’s (MU) shares surged 18% in premarket activity at the time of writing as the company unexpectedly reported a profit in fiscal Q2 and revenue soared more than forecast. After market close on Wednesday, Micron reported fiscal Q2 non-GAAP diluted earnings of $0.42 per share, compared to a loss of $1.91 a year earlier. Analysts polled by Capital IQ expected a loss of $0.24. Revenue for the quarter ended Feb. 29 was $5.82 billion, up from $3.69 billion a year earlier. Analysts surveyed by Capital IQ expected $5.35 billion. The company said it expects fiscal Q3 non-GAAP diluted EPS of $0.45, plus-minus $0.07. Analysts surveyed by Capital IQ expect $0.21. The company expects revenue for the quarter of $6.60 billion, plus-minus $200 million. Analysts polled by Capital IQ expect $6 billion. Micron Technology said its board declared a quarterly dividend of $0.115 per share, payable April 16 to shareholders