Micron Technology

Micron Technology stock tumbled on Wednesday after the company’s chief financial officer said there would be “no change or update” to the company’ second-quarter outlook and signaled a deterioration in margins for the third quarter. Speaking at the Wolfe Research Auto, Auto Tech and Semiconductor Conference, CFO Mark Murphy said there would be no adjustments to the guidance issued on Dec. 18. For the second quarter, Micron forecast adjusted earnings in the range of $1.33 to $1.53 a share. The latest consensus call among analysts surveyed by FactSet is for $1.44 a share. Management now expects third-quarter gross margins to be lower “by a few hundred basis points sequentially,” Murphy added, citing changes in both Micron’s mix of customers and industry conditions. The company told investors to expect second-quarter gross margins between 37.5% and 39.5%. Shares of the computer memory manufacturer were down 3.3% to $90.87, on pace for the […]

By Angela Palumbo Micron Technology reports earnings next week and while many analysts are pessimistic about what guidance the chip maker will provide, a Citi analyst still said buy the stock. Citi analyst Christopher Danely wrote in a research note Friday that he spent time chatting with investors this week about their expectations for Micron’s earnings, which will be released after the stock market closes on Sept. 25. His takeaway: a lot of pessimism. “We estimate roughly 80% of investors are bearish on Micron with every hedge fund we spoke with being negative but a few mutual funds being positive,” Danely wrote. While shares of Micron have risen 4.7% this year, they have recently taken a tumble. As of Thursday’s close, the stock has dropped 42% from its all-time closing high of $153.45 hit on June 18. There’s a few reasons for the shift in sentiment. For one, broader semiconductor

Micron Technology is poised to become a winner from the rising demand for artificial-intelligence semiconductors, according to New Street Research. On Tuesday, analyst Pierre Ferragu reaffirmed a Buy rating on the stock and reiterated his $150 target price. He notes the memory outlook for datacenters for the second half of 2024 is “strong on all fronts with AI ramping and traditional server recovering,” and predicts Micron will keep beating expectations in the coming quarters. In early trading Tuesday, Micron stock rose 1.9% to $96.41. Ferragu estimates demand for memory in the AI server market will go up by 14 times over the next four years to $50 billion in 2027 from $3.5 billion in 2023. “Increasing HBM [high bandwidth memory] content in AI servers is a multiyear growth driver for memory,” he wrote. Micron is a leader in the markets for DRAM, which is used in desktop computers and servers,

Micron Technology has some tailwinds in products including high bandwidth memory and expanding memory content from the rise of AI-powered devices but risks abound, analysts at BofA Securities say in a research note. Contributions from a HBM product in FY24 that are expected to increase in FY25, a return to normal cost down cadence helping gross margins expand and strong growth in AI servers and the rise of AI PCs/smartphones helping expand memory content are things they like for Micron. They see risks in Micron’s high sensitivity to the AI theme, which is subject to high expectations and volatility. Shares fall 6.1%, as 4Q guidance didn’t blow Wall Street away.

Micron Technology’s 4Q guidance didn’t meet lofty expectations, but continued strong progress and its fundamentals support a positive thesis, says Matt Bryson, analyst at Wedbush, in a research note. Bryson believes the memory-chip maker issued a forecast that understates likely price improvement and notes its positive commentary around high bandwidth memory products. “We see the continued strong progression in fundamentals as supporting our positive thesis and we expect financials… will continue to improve at an accelerated rate, for some time to come,” Bryson says.

Micron Technology Inc (NASDAQ:MU) released its Q3 2024 earnings after the market close on June 26, reporting better-than-expected revenue of $6.81 billion and earnings per share of 62 cents, surpassing estimates. Despite this, the stock traded lower on Thursday due to lackluster top-line guidance, affecting not only Micron but also Advanced Micro Devices, Inc (NASDAQ:AMD) shares in sympathy. Here’s how 8 analysts covering Micron stock reacted to the report: BofA Securities Sees Potential Share Gains With Micron Stock Analyst Vivek Arya reiterated a Buy with a price target of $170, implying a 19.4% upside. Arya sees the company as a “key AI beneficiary in both data center and edge.” He recognizes Micron as the “last remaining pure-play U.S.-based memory company” and sees it benefitting from trends in data centers, cloud computing and 5G. As memory pricing improves, Arya sees Micron emerging from the memory cycle trough and foresees potential share

Micron Technology Inc (NASDAQ:MU) reported financial results for the third quarter after the market close on Wednesday. Here’s a rundown of the report. Micron Q3 Earnings: Micron reported third-quarter revenue of $6.81 billion, beating the consensus estimate of $6.634 billion. The company reported adjusted earnings of 62 cents per share, beating analyst estimates of 49 cents per share. Operating cash flow came in at $2.48 billion versus $1.22 billion in the prior quarter and $24 million in the comparable quarter last year. Adjusted free cash flow was $425 million in the quarter. The company ended the quarter with $9.22 billion in cash, marketable securities and restricted cash. “Robust AI demand and strong execution enabled Micron to drive 17% sequential revenue growth, exceeding our guidance range in fiscal Q3,” said Sanjay Mehrotra, president and CEO of Micron. “We are gaining share in high-margin products like High Bandwidth Memory (HBM), and our data center SSD revenue

Micron Technology expects to post record revenue in fiscal 2025. The memory-chip maker in prepared markets for its 3Q earnings call says demand for AI personal computers and AI smartphones and the continued growth of AI in the data center offer a favorable setup. CEO Sanjay Mehrotra says it can deliver in fiscal 2025 with improved profitability underpinned by its portfolio’s ongoing shift to higher-margin products. Shares slip 5% to $135.42 in afterhours trading on 4Q guidance fails to dazzle Wall Street.

Semiconductor company Micron Technology(NASDAQ:MU) is set to report third-quarter financial results after market close Wednesday. Here are the earnings estimates, what analysts are saying and key items to watch. Earnings Estimates: Analysts expect Micron to report third-quarter revenue of $6.63 billion. The revenue estimate would be an improvement from $3.75 billion reported in last year’s third quarter. Micron has beaten analysts’ revenue estimates in four straight quarters and seven of the last 10 quarters overall. Analysts expect Micron to report third-quarter earnings per share of 49 cents, compared to a loss of $1.43 in last year’s third quarter. The company has beaten earnings estimates in four straight quarters and eight of the last 10 quarters. Company guidance calls for third-quarter revenue to be $6.6 billion, plus of minus $200 million and earnings per share to be 38 cents to 52 cents according to estimates given during the second quarter.

Citigroup analyst Christopher Danely maintains Micron Technology (NASDAQ:MU) with a Buy and maintains $150 price target.

B of A Securities analyst Vivek Arya maintains Micron Technology (NASDAQ:MU) with a Buy and raises the price target from $120 to $144.