On Sep 26, major Wall Street analysts update their ratings for $Micron Technology (MU.US)$, with price targets ranging from $114 to $250.
Morgan Stanley analyst Joseph Moore maintains with a hold rating, and adjusts the target price from $100 to $114.
Goldman Sachs analyst Toshiya Hari maintains with a buy rating, and adjusts the target price from $158 to $145.
J.P. Morgan analyst Harlan Sur maintains with a buy rating, and maintains the target price at $180.
BofA Securities analyst Vivek Arya maintains with a buy rating, and sets the target price at $125.
Citi analyst Christopher Danely maintains with a buy rating, and maintains the target price at $150.
Furthermore, according to the comprehensive report, the opinions of $Micron Technology (MU.US)$'s main analysts recently are as follows:
Micron delivered a robust quarter and outlook, particularly in light of the tempered recent expectations, with EPS guidance aligning with consensus before the wave of negative revisions. The company has achieved its sales target for High Bandwidth Memory (HBM) in FY24 and maintains its projection of reaching several billion in sales next year. Additionally, Micron is steadfast in its goal to capture a mid-20s percentage of the DRAM market share in HBM, although the market forecast is considered to be overly optimistic. While Micron's management is executing their strategy effectively, the stock is deemed to be costly, and analysts see more favorable risk-reward opportunities in other areas of AI and memory sectors.
Micron has reported 'beat/raise results' despite the presence of growing macroeconomic challenges, supported by robust data center demand and ongoing growth in its AI-leveraged high-bandwidth memory (HBM) sales. While a milder fiscal second quarter is anticipated due to seasonality, projections for FY25 and FY26 earnings per share have been increased significantly.
Despite ongoing inventory accumulation at PC and smartphone customers, as well as a general softness in end-demand, the anticipated mid-cycle in the memory sector appears to be less severe than previously expected. This outlook is supported by persistent demand strength from datacenter customers.
Here are the latest investment ratings and price targets for $Micron Technology (MU.US)$ from 18 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.