40.28 -0.09 (-0.22%)
After hours: 6:49PM EDT
|Bid||40.25 x 1800|
|Ask||40.28 x 21500|
|Day's Range||39.89 - 41.05|
|52 Week Range||28.39 - 64.66|
|Beta (3Y Monthly)||1.26|
|PE Ratio (TTM)||3.33|
|Earnings Date||Mar 20, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||46.61|
NEW YORK, NY / ACCESSWIRE / March 19, 2019 / Pomerantz LLP announces that a class action lawsuit has been filed against Micron Technology, Inc. ("Micron" or the "Company") (MU) and certain of its officers and directors. The class action, filed in United States District Court, Southern District of New York, and indexed under 19-cv-02136, is on behalf of a class consisting of all persons and entities, other than Defendants and their affiliates, who purchased or otherwise acquired Micron securities between September 26, 2017 and November 19, 2018, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). If you are a shareholder who purchased Micron securities during the class period, you have until March 25, 2019, to ask the Court to appoint you as Lead Plaintiff for the class.
"The run this morning had a lot more to do with a leap of taste, meaning money managers were buying the stocks of high-quality companies because their stories are meatier than the average investor may realize," CNBC's Jim Cramer says. "The market doesn't care about Jeff Bezos' personal life," the "Mad Money" host says. "Call both Micron and Apple vulnerable until we hear that China's economy is turning around without a trade war," he says.
NEW YORK, March 19, 2019 -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies..
Why Jeffrey Gundlach Thinks We're Still in a Bear Market(Continued from Prior Part)Gundlach on the FedWhile it’s anybody’s guess now whether the Federal Reserve will proceed slowly in terms of interest rate hikes in 2019, the situation looked to
Micron in the 2019 Memory Industry Downtrend—What's Different?(Continued from Prior Part)Memory market dynamicsMicron Technology (MU) operates in a highly cyclical memory market, where memory prices are governed by demand and supply forces. When
Amid modest gains for the indexes Tuesday, stocks showing big gains included chipmaker Advanced Micro Devices, Nvidia and Micron Technology.
Micron in the 2019 Memory Industry Downtrend—What's Different?(Continued from Prior Part)Micron stock falls ahead of its earningsMicron Technology’s (MU) fiscal 2019 second-quarter earnings will likely feel the heat of the demand weakness in
Dec. 26 was a "key reversal" day which began a bull market run of 54% to its Feb. 25 high of $43.99. My call is to buy Micron down to its annual value level at $38.66 as the upside is to the 200-day simple moving average at $44.06.
Micron might be in for a rougher ride for the rest of the year than expected, at least according to one analyst. Ahead of Micron's fiscal second quarter earnings report on Wednesday after the close, Citi analyst Christopher Danley penned a note in which he forecast a crash in DRAM prices due to excess inventory being held by the three main DRAM producers -- Micron, Samsung and SK Hynix.
Why Broadcom Stock Is Gaining Momentum This Month(Continued from Prior Part)Broadcom’s revenue in the first quarter Semiconductor giant Broadcom (AVGO) achieved quarterly revenue of nearly $5.79 billion in the first quarter fiscal 2019, up 8.7%
Micron in the 2019 Memory Industry Downtrend—What's Different?Micron’s stock price momentum Micron Technology (MU) was one of semiconductor investors’ favorite stocks back in 2016 and 2017, rising ~55% and 88%, respectively, in the years. This
Why Investors Should Closely Watch Micron's Q2 Earnings(Continued from Prior Part)Micron optimistic about second half of 2019 Previously, we saw that Micron’s (MU) customers stocked up memory inventory for the holiday season, but the inventory was
With Micron's (MU) second-quarter results slated for announcement Wednesday after close, investors are eager to see how depressed average selling prices (ASPs) are impacting the semiconductor giant. While the company was flying high last year, the climate around memory chips has taken a turn for the worse, sending the stock down about 34% since. Lower demand with high supply has pushed prices downwards, which has pushed revenue and expectations down, with its stock price following. While some analysts expect a price turnaround soon, Susquehanna analyst Mehdi Hosseini says this will not be enough. The analyst maintains a Neutral rating on MU stock with $35 price target, which implies nearly 12% downside from the stock. (To watch Hosseini's track record, click here) Wall Street is well aware that ASPs have declined worse-than-expected in the quarter, Hosseini says. But the analyst concedes “what is not well understood and not dialed into the share price is [gross margin] trends given the flattening of the cost curve, elevated inventories and lack visibility on mix impact from the higher margin segments.” Elevated inventories is especially important and has been highly discussed in the industry, as this has contributed to lower prices and demand from downstream buyers.Within the industry itself, Hosseini says, “there have certainly been (positive) structural changes within the memory industry (i.e. consolidation, increased Enterprise/Cloud demand)...but...cost curves for both DRAM and NAND have moderated (as capital intensity increased) while there is nearly a full quarter of inventory (on manufacturers' books),” which contribute to lower selling prices. Looking at capital expenditures, the analysts “argue[s] 2019 cap-ex cuts are not yet deep enough to lead to shortages by YE19, and ASP increases in 2020,” while on the demand side, “Server DRAM demand is not expected to accelerate until some time in 2020, while Enterprise NVMe is pretty much dominated by Samsung and Intel.”Server and Enterprise segments “offer the highest margins for DRAM and NAND”, but the Hosseini “simply lack[s] [the] confidence around their contribution to MU's earnings looking into 2020. Thus, the above (flattening cost, bloated inventories, lack of confidence on ASP increases into 2020, and shipment mix) are a material overhang on margin expansion and we believe this would limit the EPS rebound.”All in all, the chips market goes through cycles, which means any significant short-term decline doesn’t necessarily scare investors away. Events that individual companies cannot control may force share prices down, but many investors do not see these trends in holding in the long-term. Wall Street almost evenly split between the bulls and those choosing to play it safe. Based on 20 analysts polled in the last 3 months, 11 rate a Buy on Micron stock, while 7 maintain a Hold. Notably, the 12-month average price target stands at $47, marking a nearly 17% in return potential for the stock. In other words, even the analysts that are hedging their bets have some healthy optimism reflected in expectations. (See MU's price targets and analyst ratings on TipRanks) More recent articles from Smarter Analyst: * 3 Semiconductor Stocks Showing Big Gains * How Will Top Exec Exits Impact Facebook (FB) Stock? * Breaking Down the Aurora Cannabis (ACB) Investment Portfolio: Choom Holdings * Nvidia’s (NVDA) GPU Technology Conference Kicks Off; Rosenblatt Maintains Buy on the Stock
Why Investors Should Closely Watch Micron's Q2 Earnings(Continued from Prior Part)Memory prices Previously, we saw that analysts expect Micron (MU) to report revenue below its midpoint guidance of $6 billion in the second quarter of fiscal
Micron Technology Inc NASDAQ/NGS:MUView full report here! Summary * Perception of the company's creditworthiness is positive * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is low for MU with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding MU are favorable, with net inflows of $10.40 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is weak relative to the trend shown over the past year, but is accelerating. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. MU credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Investing.com – Advanced Micro Devices rallied Tuesday, lifting chip stocks overall, as Morgan Stanley talked up the chip maker's prospects after it won part of Google's upcoming cloud-gaming offering.
Why Broadcom Stock Doesn't Have Any 'Sell' RecommendationsAnalysts’ recommendations Out of the 34 analysts covering Broadcom (AVGO), 25 analysts have rated the stock a “buy,” while nine analysts rated the stock a “hold.” Not a single
Why Broadcom Stock Is Gaining Momentum This MonthStock price movementsBroadcom (AVGO) stock rose 1.35% and closed at $293.84 on March 18. Shares of the semiconductor giant have risen 6.7% this month as of March 18. AVGO also reached a new high of
Why Investors Should Closely Watch Micron's Q2 EarningsMicron’s stock could see strong momentum on March 21 This week, semiconductor investors should watch out for pure-play memory chipmaker Micron Technology’s (MU) fiscal 2019 second-quarter
Investors shouldn't be too surprised with Micron (NASDAQ:MU) earnings on Wednesday after the bell. While MU stock has moved much higher from its Christmas Eve low, the business remains tied to memory pricing which continues to suffer from last year's chip glut.Although news from the report could temporarily affect Micron shares, investors should expect little change. MU stock has gained almost 25% this year, outpacing the Nasdaq Composite index's 16.2% increase. Expect Lower Revenue and EarningsAnalyst forecast earnings for Micron's second quarter of fiscal 2019 will come in at $1.70 per share. If this number holds, it will be a substantial reduction in profits from the same quarter last year when the company reported $2.82 per share. The U.S.-China trade war and the crypto craze fizzle-out has significantly reduced demand for memory chips. Investors will see the impact of lower demand in Micron's sales. Wall Street believes the company will show revenue that's 20.2% lower than last year, at $5.87 billion versus the year-ago's $7.35 billion.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs Micron has reported earnings beats in each of the last four quarters, I see little reason to expect a miss. However, quarterly estimates have continued to fall. Analysts had expected $2.44 per share only 90 days ago. For this reason, one has to question if beating significantly reduced expectations will help and, if so, by how much. The Worst is Probably Over for MUFor most of its history, the prospects for Micron stock rose and fell on memory chip pricing. The earnings and revenue predictions show the long-time trend will likely continue. Most MU stock investors have acclimated to lower earnings. * 15 Stocks That May Be Hurt by This Year's Big IPOs MU stock valuation already reflects this "worst is over" sentiment. Like its chip-stock peers -- including as Intel (NASDAQ:INTC), AMD (NASDAQ:AMD) and Nvidia (NASDAQ:NVDA) -- the Micron stock price cratered and then saw a dramatic recovery late last year. In MU's case, the shares have gained almost 40% since December lows.Even after this massive surge, Micron stock will appear cheap to many investors. The price-to-earnings (PE) ratio stands at a meager 3.3 times earnings. Even after figuring in the reduced profits, the forward PE rises to just under 6.5x. This comes in well below the longer-term average multiple of 13.5x.Moreover, while I usually cringe when I hear the expression "it's different this time," I think one thing is truly different. During previous chip gluts, Micron stock fell into losses, sometimes taking MU below $10 per share. While analysts forecast lower profits through at least 2021, they do expect Micron to remain profitable.Why? Today's new technologies have sent demand for memory chips exponentially higher. While I expect business cycles to remain a fact of technology life, I think the heightened demand will keep Micron profitable in leaner times ahead. It should also keep Micron stock from falling below the 52-week low of $28.39 per share.However, despite this change, MU stock remains tied to the memory prices that have always driven its highs and lows. Unfortunately for MU, pricing continues to look unfavorable for both the DRAM and NAND memory on which Micron depends. Stay Focused on Memory PricingInvestors should remain mindful of management's job to act as positively as possible. Hence, they may focus on other news. On a recent call, CEO Sanjay Mehrotra reported production cost reductions that "outpace the industry." While that can modestly help earnings, investors should avoid becoming distracted by such news. * 7 Winning High-Yield Dividend Stocks With Payouts Over 5% As a child playing football, I learned that I would need to pay attention to the player's waist instead of other movements to make a successful tackle. To tackle Micron stock, investors should likewise watch its "waist" -- that is, memory prices. News on production costs, while significant, distract from the true picture. For this reason, any possible bump that can come from Q2 earnings will probably prove temporary. While I would not expect additional bad news, I think the pain will continue for Micron. The Bottom Line on Micron StockMicron stock will continue to move based on memory pricing, not quarterly reports. MU usually beats earnings, and I do not see any indications that that trend will change in this quarter. However, this comes off of estimates that have fallen continually for months. Unfortunately, the memory pricing trends remain on track to keep Micron's profits falling through at least 2021.MU stock will see a few bright spots. Thanks to much higher demand, lows in the memory price cycle could keep Micron profitable in leaner times. Moreover, the company's reduced production costs can also offer help.Still, none of this changes MU's tendency to rise and fall with memory prices. Until market demand drives these prices for memory higher, lower production costs and rock-bottom PE ratios will do little for Micron stock.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 of the Best Stocks to Buy Under $10 * 7 Single-Digit P/E Stocks With Massive Upside * 7 Best Quantum Computing Stocks Trading Today Compare Brokers The post Micron Stock Will Likely See Little Change After Wednesday's Earnings Report appeared first on InvestorPlace.
Micron Technology (MU) stock has outperformed the semiconductor market's impressive 2019 comeback. Despite this climb, shares of Micron rest far below their 52-week high. So, is now the time to buy Micron stock with the company scheduled to report its second-quarter fiscal 2019 financial results after the closing bell Wednesday?