Micron Technology

Micron Technology (NASDAQ:MU) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 16.33% Raymond James $90 → $100 Maintains Outperform 01/16/2024 33.78% Keybanc $100 → $115 Maintains Overweight 01/04/2024 10.52% Piper Sandler $70 → $95 Upgrades Neutral → Overweight 12/21/2023 16.33% Evercore ISI Group $90 → $100 Maintains Outperform 12/21/2023 10.52% Wells Fargo $82 → $95 Maintains Overweight 12/21/2023 4.7% Raymond James $82 → $90 Maintains Outperform 12/21/2023 10.52% Wedbush → $95 Reiterates Outperform → Outperform 12/21/2023 62.87% Rosenblatt $100 → $140 Maintains Buy 12/21/2023 16.33% B of A Securities $95 → $100 Maintains Buy 12/21/2023 -6.93% Stifel $76 → $80 Maintains Hold 12/21/2023 10.52% UBS $90 → $95 Maintains Buy 12/21/2023 -13.04% Morgan Stanley $71.5 → $74.75 Maintains Underweight 12/21/2023 22.15% JP Morgan $90 → $105 Maintains Overweight 12/21/2023 10.52% Citigroup $88 → $95 Maintains Buy 12/21/2023 16.33% Needham $85 → […]

Micron Technology (NASDAQ:MU) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 40.88% Keybanc $100 → $115 Maintains Overweight 01/04/2024 16.38% Piper Sandler $70 → $95 Upgrades Neutral → Overweight 12/21/2023 22.5% Evercore ISI Group $90 → $100 Maintains Outperform 12/21/2023 16.38% Wells Fargo $82 → $95 Maintains Overweight 12/21/2023 10.25% Raymond James $82 → $90 Maintains Outperform 12/21/2023 16.38% Wedbush → $95 Reiterates Outperform → Outperform 12/21/2023 71.51% Rosenblatt $100 → $140 Maintains Buy 12/21/2023 22.5% B of A Securities $95 → $100 Maintains Buy 12/21/2023 -2% Stifel $76 → $80 Maintains Hold 12/21/2023 16.38% UBS $90 → $95 Maintains Buy 12/21/2023 -8.43% Morgan Stanley $71.5 → $74.75 Maintains Underweight 12/21/2023 28.63% JP Morgan $90 → $105 Maintains Overweight 12/21/2023 16.38% Citigroup $88 → $95 Maintains Buy 12/21/2023 22.5% Needham $85 → $100 Maintains Buy 12/21/2023 10.25% Deutsche Bank $85 →

Micron Technology (NASDAQ:MU) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 13.03% Piper Sandler $70 → $95 Upgrades Neutral → Overweight 12/21/2023 18.98% Evercore ISI Group $90 → $100 Maintains Outperform 12/21/2023 13.03% Wells Fargo $82 → $95 Maintains Overweight 12/21/2023 7.08% Raymond James $82 → $90 Maintains Outperform 12/21/2023 13.03% Wedbush → $95 Reiterates Outperform → Outperform 12/21/2023 66.57% Rosenblatt $100 → $140 Maintains Buy 12/21/2023 18.98% B of A Securities $95 → $100 Maintains Buy 12/21/2023 -4.82% Stifel $76 → $80 Maintains Hold 12/21/2023 13.03% UBS $90 → $95 Maintains Buy 12/21/2023 -11.06% Morgan Stanley $71.5 → $74.75 Maintains Underweight 12/21/2023 24.93% JP Morgan $90 → $105 Maintains Overweight 12/21/2023 13.03% Citigroup $88 → $95 Maintains Buy 12/21/2023 18.98% Needham $85 → $100 Maintains Buy 12/21/2023 7.08% Deutsche Bank $85 → $90 Maintains Buy 12/21/2023 13.03% Mizuho $86 →

Piper Sandler analyst Harsh Kumar upgrades Micron Technology (NASDAQ:MU) from Neutral to Overweight and raises the price target from $70 to $95.

‘Memory Chip Vendors Such As Samsung Electronics And Micron Technology Are Considering Raising Dram Prices By 15-20% In Q1 Of 2024, According To Sources At Memory Module Houses’ – DigiTimes Alert

Micron Technology’s (MU) fiscal Q1 results indicate some improvement from the company’s recent underperformance, Morgan Stanley said in a note on Thursday. “This quarter makes us feel better about some of the Micron-specific earnings underperformance of late, though it does not convince us that we are back at peak earnings in CY25,” the investment firm said. The note said that “low realized price increases in November (up low single digits) do leave more room for pent-up price increases in May.” But there may also be “supply demand challenges for 2024, as DRAM shipments in 2h23 were not strong enough to give us conviction on next year,” the investment firm said. Morgan Stanley raised its price target on Micron to $74.75 from $71.50 while keeping its underweight rating. “Our through-cycle earnings expectations have not changed, and reflect a premium to trailing 5 years earnings, but we are raising the multiple given

Micron Technology’s results are reminding investors how quickly the memory-chip industry can recover. Wedbush analyst Matt Bryson says in a research note that the company’s 1Q results show a sharp improvement in fundamentals, including higher average selling price from favorable supply/demand dynamics. Just as memory-chip makers experienced a rapid downturn earlier in 2023, Bryson says the industry’s financials can rapidly improve. He sees memory-chip makers as in “the very early innings of what will be a prolonged industry recovery.”

Morgan Stanley Lifts Price Target on Micron Technology to $74.75 From $71.50, Sees ‘More Room for Pent-Up Price Increases in May,’ Keeps Underweight Rating.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We boost our 12-month target to $94 from $85, on P/E of 13x our CY 25 EPS view, near MU’s long-term historical average. We narrow our FY 24 (Aug.) loss per share estimate to $0.51 from $1.12 and raise FY 25’s EPS to $6.14 from $5.91. MU posts Nov-Q loss per share of $0.95 vs. $0.04 loss, beating the $1.01 consensus loss view. Sales rose 18% from Aug-Q, better than expected, led by 24% growth in DRAM while NAND rose a more modest 2%. We are encouraged by improving gross margin trajectory (13% seen in Feb-Q vs. 6% consensus) and see a path towards 35%-40% by CY 24 end as well as return to profitability by the May-Q, driven by higher pricing, higher utilization, and better mix.

Micron Technology (MU) reported a fiscal Q1 non-GAAP diluted loss late Wednesday of $0.95 per share, compared with a loss of $0.04 a year earlier. Analysts polled by Capital IQ expected a loss of $1.01 normalized. Revenue for the quarter that ended Nov. 30 was $4.73 billion, up from $4.09 billion a year earlier. Analysts surveyed by Capital IQ expected $4.63 billion. The company said it expects a fiscal Q2 non-GAAP loss of $0.28 plus/minus $0.07. Analysts expect a loss of $0.61 normalized. Micron expects revenue of $5.30 billion-plus/minus $200 million for the quarter. Analysts expect $5.05 billion.

Micron Technology (NASDAQ:MU) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/21/2023 14.42% Barclays $85 → $95 Maintains Overweight 12/21/2023 20.44% Keybanc $90 → $100 Maintains Overweight 12/19/2023 20.44% Rosenblatt → $100 Reiterates Buy → Buy 12/18/2023 8.39% BMO Capital $80 → $90 Maintains Outperform 12/18/2023 34.89% Susquehanna $90 → $112 Maintains Positive 12/15/2023 -8.47% Stifel $72 → $76 Maintains Hold 12/15/2023 14.42% B of A Securities $77 → $95 Upgrades Neutral → Buy 12/11/2023 8.39% UBS $76 → $90 Maintains Buy 12/06/2023 3.58% Mizuho $82 → $86 Maintains Buy 11/29/2023 5.99% Citigroup $85 → $88 Maintains Buy 11/29/2023 -1.24% Raymond James $76 → $82 Maintains Outperform 11/29/2023 2.37% Barclays $80 → $85 Maintains Overweight 11/29/2023 2.37% Needham $75 → $85 Maintains Buy 11/27/2023 -13.89% Morgan Stanley $58.5 → $71.5 Maintains Underweight 09/28/2023 -29.54% Morgan Stanley $58.5 → $58.5 Reiterates Underweight →

Micron Technology, Inc. Reports Results for the First Quarter of Fiscal 2024 Industry-leading technology and products address the growing demand for AI solutions BOISE, Idaho, Dec. 20, 2023 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) today announced results for its first quarter of fiscal 2024, which ended November 30, 2023. Fiscal Q1 2024 highlights — Revenue of $4.73 billion versus $4.01 billion for the prior quarter and $4.09 billion for the same period last year — GAAP net loss of $1.23 billion, or $1.12 per diluted share — Non-GAAP net loss of $1.05 billion, or $0.95 per diluted share — Operating cash flow of $1.40 billion versus $249 million for the prior quarter and $943 million for the same period last year “Micron’s strong execution and pricing drove better-than-anticipated first quarter financial results,” said Micron Technology President and CEO Sanjay Mehrotra. “We expect our business fundamentals to improve throughout