As the sun rises on Wall Street, Micron Technology Inc MU shares soar following an outstanding fiscal second quarter report.
In the midst of an exhilarating earnings season, analysts have drawn insights from the company’s recent performance.
- Wedbush analyst Matt Bryson raises price target to $130 from $103, maintaining an Outperform rating.
- JPMorgan analyst Harlan Sur lifts price target to $130 from $105, retaining an Overweight rating.
- Mizuho Securities analyst Vijay Rakesh increases price target to $124 from $105 while reaffirming a Buy rating.
- Goldman Sachs analyst Toshiya Hari raises price target to $122 from $112, maintaining a Buy rating.
- Stifel analyst Brian Chin boosts price target to $140 from $120, upholding a Buy rating.
Peruse other analyst stock ratings for comparison.
Wedbush: Analyst Matt Bryson observed a surge in Micron Technology’s DRAM and NAND prices, pointing to potential double-digit revenue growth despite steady overall bits.
Beyond the hype around the HBM business, Bryson highlighted Micron’s expansion in lucrative areas like data center SSDs and forecasted revenue from innovative products.
JPMorgan: Analyst Harlan Sur noted Micron’s above-forecasted current quarter guidance, signaling a positive trend in demand and pricing for DRAM and NAND across diverse markets.
Sur speculated on AI server demands propelling growth in HBM/DDR5 and data center SSDs, leading to tight supply availability and further price hikes.
Mizuho Securities: Analyst Vijay Rakesh predicted significant growth in Micron Technology’s HBM sector, envisioning substantial revenue streams for the company.
Rakesh hinted at Micron’s promising future in the HBM market, emphasizing strong market share potential and capacity utilization.
Goldman Sachs: According to analyst Toshiya Hari, Micron Technology delivered exceptional quarterly results, fueled by robust DRAM and NAND pricing trends.
Hari highlighted Micron’s strong FY3Q margins and EPS, signaling a bullish outlook on the stock amidst AI advancements.
Stifel: Analyst Brian Chin applauded Micron’s revenue and GM exceeding expectations, underpinned by significant ASP growth in DRAM and NAND segments.
Chin’s optimism on ASP growth and HBM traction drove management’s revenue guidance, pointing towards a bullish outlook for the company’s future.
MU Price Action: Micron Technology’s stock surged by 15.52% to $111.19 at the time of publication on Thursday.
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