Micron sees price target cut, while Morgan Stanley turns 'Cautious' on S. Korean tech sector Sep. 16, 2024 9:17 AM ET By: Ravikash Bakolia , SA News Editor [Seeking Alpha]
Micron Technology, Inc. (MU)
Last micron technology, inc. earnings: 3/25 04:01 pm
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Source: Seeking Alpha
Micron's shares slipped about premarket on Monday. A team of analysts including Shawn Kim noted that while memory is still moving higher, the rate of change is approaching a peak as supply catches up to demand. Morgan Stanley's cycle indicator has shifted out of 'late-cycle' to 'peak-cycle' for the first time since 2021, and this phase-change has historically meant a challenging backdrop for forward returns. The analysts expect earnings growth expectations to peak and reverse in the coming quarters, with a near 30% price-to-book, or P/B, multiple contraction and a higher chance of investors resetting positions. The industry is benefitting from a higher return high-bandwidth memory, or HBM, Total addressable market, or TAM, but facing higher capital intensity (front-end DRAM, EUV) and a flattening cost curve in commodity memory. This has changed capital allocation decisions and return requirements, the analysts added. The analysts said they prefer NAND to DRAM (types of memory
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News
- If You Bought 1 Share of Micron Technology at Its IPO, Here's How Many Shares You Would Own Now [Yahoo! Finance]Yahoo! Finance
- Micron Technology, Inc. (NASDAQ: MU) had its price target lowered by analysts at Wells Fargo & Company from $190.00 to $175.00. They now have an "overweight" rating on the stock.MarketBeat
- Death Cross for MU Stock: Time to Buy Micron Based on Fundamentals? [Yahoo! Finance]Yahoo! Finance
- Micron Technology, Inc. (NASDAQ: MU) had its price target lowered by analysts at Citigroup Inc. from $175.00 to $150.00. They now have a "buy" rating on the stock.MarketBeat
- Micron Technology, Inc. (NASDAQ: MU) had its price target lowered by analysts at UBS Group AG from $153.00 to $135.00. They now have a "buy" rating on the stock.MarketBeat
MU
Earnings
- 6/26/24 - Beat
MU
Sec Filings
- 8/12/24 - Form 4
- 8/7/24 - Form 8-K
- 7/23/24 - Form 4
- MU's page on the SEC website