Micron Technology

Mizuho analyst Vijay Rakesh reiterates Micron Technology with a Buy and raises the price target from $124 to $130.

By Eric J. Savitz In yet another feat of digital alchemy, artificial intelligence has transformed the memory chip producer Micron Technology into a rip-roaring growth stock. Investors with long memories will be skeptical that this new version of the Micron story is sustainable. Historically, the memory chip business has been wildly cyclical. And yet, and I hesitate to say this, things are different this time. Already trading at an all-time high and up 29% year to date, Micron is one of the market’s best and least appreciated long-term plays on the AI trend. Even better, the stock is still cheap — just how cheap we’ll get to in a minute. But let’s be clear: Micron has always been a challenging company to value. The memory-chip maker has cutting-edge semiconductor technology, which it applies to both DRAM and NAND memory chips, used in PCs, servers, smartphones, cars, and every other imaginable

TD Cowen analyst Krish Sankar maintains Micron Technology with a Outperform and raises the price target from $120 to $150.

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

Micron Sees Q3 Adj. EPS $0.38-$0.52 Vs $0.20 Est., Revenue $6.4B-$6.8B Vs $6B Est.

Micron Technology, Inc. Reports Results for the Second Quarter of Fiscal 2024 AI demand and tight supply accelerate return to profitability BOISE, Idaho, March 20, 2024 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) today announced results for its second quarter of fiscal 2024, which ended February 29, 2024. Fiscal Q2 2024 highlights — Revenue of $5.82 billion versus $4.73 billion for the prior quarter and $3.69 billion for the same period last year — GAAP net income of $793 million, or $0.71 per diluted share — Non-GAAP net income of $476 million, or $0.42 per diluted share — Operating cash flow of $1.22 billion versus $1.40 billion for the prior quarter and $343 million for the same period last year “Micron delivered fiscal Q2 results with revenue, gross margin and EPS well above the high-end of our guidance range — a testament to our team’s excellent execution on pricing,

Micron Expects Next-Gen AI PC Units To Grow And Become A Meaningful Portion Of Total PC Units In Calendar 2025.

Micron Technology Inc (NASDAQ:MU) reported fiscal second-quarter financial results Wednesday after the bell. Here’s a look at the key metrics from the quarter. Q2 Earnings: Micron reported first-quarter revenue of $5.82 billion, which beat the consensus estimate of $5.342 billion. The company reported adjusted earnings of 42 cents per share, which easily beat analyst estimates for a loss of 25 cents per share. Operating cash flow came in at $1.22 billion, up from $343 million in the prior year’s quarter, but down from $1.4 billion quarter-over-quarter. Adjusted free cash flow came in at negative $29 million for the quarter. Micron said it ended the quarter with $9.72 billion in cash, marketable securities and restricted cash. “Micron delivered fiscal Q2 results with revenue, gross margin and EPS well above the high-end of our guidance range — a testament to our team’s excellent execution on pricing, products and operations,” said Sanjay Mehrotra, president and CEO

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $130 from $110, on a P/E of 13.5x our CY 25 EPS view, near historical. We up our FY 24 (Aug.) per share estimate to $0.83 EPS from a $0.20 loss and raise FY 25’s EPS to $8.25 from $7.28. MU posts Feb-Q EPS of $0.42 vs. -$1.91, beating the $0.24 consensus loss view. Sales rose 23% from Nov-Q, above expectations, led by +21% DRAM growth and +27% for NAND. Gross margin of 20% and 26.5% May-Q guide are well ahead of our view, as MU benefits from a strong pricing recovery and favorable mix. We think customer inventories have dramatically improved and see greater earnings leverage in this cycle, while capex outlook remains unchanged, supporting a tighter supply/demand landscape. Along