Micron Technology, Inc. (MU) Given Outperform Rating at Sanford C. Bernstein

This corresponds to a 23.2% upside from the last closing price. A slew of other firms (perhaps reacting as much to Micron’s 2015 performance as its numbers) have cut their targets. Robert W. Baird reduced their target price on Micron Technology from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday. They noted that the move was a valuation call. Sterne Agee CRT began coverage on Micron Technology in a research note on Wednesday, September 9th. The company presently has an average rating of Buy and an average target price of $22.41.

Analysts on Wall Street have placed a short term price target of $193.142 on shares of Illumina, Inc. Deutsche Bank reaffirmed a “buy” rating and issued a $28.00 target price (up from $20.00) on shares of Micron Technology in a research report on Tuesday, September 29th.

Micron, competes with Samsung Electronics Co Ltd and SK Hynix Inc in the market and in recent times have invested in order to raise its production levels for its higher-margin 20 nm DRAM chips along with developing 3D NAND chips which will be more resourceful and cost-effective. Micron Technology has a 52 week low of $13.50 and a 52 week high of $35.74.

NASDAQ:MU) disclosed its first quarter fiscal 2016 (1QFY16) earnings after yesterday’s closing bell. Adjusted earnings, however, decreased from 97 cents reported in the year-ago quarter.

Micron, which makes DRAM and NAND flash memory chips, forecast a loss of US$0.05 (RM0.22) to US$0.12 (RM0.52) per share and revenue of US$2.9bil (RM12.5bil) to US$3.2bil (RM13.8bil) for the current quarter ending March 5. The company’s revenue for the quarter was down 26.7% compared to the same quarter a year ago.

Coming to the Storage Business Unit (SBU), revenues came in at $884 million during the quarter, up 4.2% on a sequential basis. Gill covers the Technology sector, focusing on stocks such as Integrated Silicon Solution, Adesto Technologies Corp, and Silicon Laboratories. In addition, the Company manufactures semiconductor components for CMOS images sensors and other semiconductor products. Baker Avenue Asset Management bought a new stake in Micron Technology during the third quarter valued at about $945,000. Ken Stern & Associates now owns 23,627 shares of the semiconductor manufacturer’s stock worth $605,000 after buying an additional 3,261 shares during the period. Micron Technology Inc’s stock has a Relative Strength Index (RSI) of 47.60. The Company operates in four segments: NAND Solutions Group (NSG), DRAM Solutions Group (DSG), Wireless Solutions Group (WSG) and Embedded Solutions Group (ESG).

It also provides NAND Flash products, which are electrically re-writeable, non-volatile semiconductor memory devices; client solid-state drives (SSDs) for notebooks, desktops, workstations, and other consumer applications; enterprise SSDs for server and storage applications; managed multi-chip package products; digital media products, including flash memory cards and JumpDrive products under the Lexar brand name.