MU - Micron Technology, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
-0.83 (-1.40%)
At close: 4:00PM EST
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Previous Close59.33
Bid58.72 x 1100
Ask58.73 x 1300
Day's Range58.26 - 60.56
52 Week Range32.14 - 61.19
Avg. Volume22,861,949
Market Cap64.986B
Beta (5Y Monthly)1.98
PE Ratio (TTM)18.98
EPS (TTM)3.08
Earnings DateMar 24, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 06, 1996
1y Target Est67.62
  • Micron Finds Support
    Investor's Business Daily Video

    Micron Finds Support

    Shares popped Thursday after Raymond James upgraded the memory chipmaker to strong buy with a 70 price target.

  • These 3 Chip Giants Keep Hitting New Highs: Are They Still Buys?

    These 3 Chip Giants Keep Hitting New Highs: Are They Still Buys?

    The semiconductor industry is turning around. It’s no secret that chip stocks lost heavily in 2H18, and had difficulty regaining traction through much of 2019. But in recent months, many of the big chip makers have seen sharp gains.While individual companies will show idiosyncratic reasons for gains, the sector as a whole has been positively impacted by three major factors starting in 2H19. First, and probably most important, is the continuing expansion of 5G mobile networks. The wireless switchover requires new types of modem chips to handle the new signal bands, and chipmakers are seeing increased orders from the original equipment manufacturers (OEMs). Wireless handsets, routers, modems, transmitters, towers – all of these will need the new chips.The next main factor is continued demand for memory chips. Data centers are expanding, meeting an urgent need in the digital economy, and the chip makers are seeing orders for new, more powerful, memory and processing chips. Those same chips are also finding customers in the online gaming community. The memory and processing requirements for business and gaming applications frequently overlap, and gamers are notorious for wanting the best systems they can afford.Finally, on the geopolitical front, the US and Chinese governments signed off on the Phase 1 agreement of a trade deal, an important development that promises to defuse the long-running trade and tariff disputes between the world’s two largest economies. Chip makers were exposed to the ‘trade war’ on multiple fronts – as exporters from both the US and China, as suppliers of parts to reexported Chinese electronic goods, and as components in goods imported to the US. Reduced trade tensions in 2020 promises to boost the chip industry.So, we should expect to see several interesting points among the major chip stocks. They are likely to carry Buy ratings, on mixed reviews from analysts; they are likely to show modest upside, as the analysts have not yet adjusted their outlooks; and they are likely to have recent strong reviews. We’ve pulled up the data on three of the larger chip stocks, and looked at them through the TipRanks Stock Comparison tool. Here are the results.Advanced Micro Devices (AMD)AMD, the first stock on our chip list, has gained 43% in the past three months. The company is a leader in both the graphics processors and motherboard chipset segments, and its x86 microprocessors are major competitors to industry giant Intel. AMD can boast that strong sales are fueling growing revenues, despite lower guidance for Q1 2020.Did the lower forward guidance really merit a 4% share price drop at the end of January? We can get an idea by looking at the Q4 numbers. AMD reported EPS at 32 cents against a 31-cent forecast. Revenue was $2.13 billion, beating expectations, growing 18% sequentially, and showing an impressive 50% gain year-over-year. For fiscal 2019, total revenue grew $6.73 billion, or 4%.So, Q4 was strong. Looking ahead, the company guided for $1.8 billion in Q1 revenue (matching Q3 results) against an expectation of … $1.86. That 3% difference was it. And AMD shares have, since the earnings report, regained the 4% loss.One measure of AMD’s strength comes from Mitch Steves, a 5-star analyst with RBC Capital. Steves released two notes on the stock last week – and he raised his price target in both. In the first, on February 10, he bumped his target from $53 to $64, writing, “We raise our 2021 EPS estimate to $2.10 as we think share gains in PCs will continue to move into the mid-20 percent market share range and we have higher conviction in server units in both 2020 and 2021.”In the second note, on February 13, Steves revised his opinion after Nvidia (more below) released strong quarterly results. Nvidia’s results imply a healthy gaming sector, and AMD is well-positioned to capitalize on gaming sales. Steves’ current price target on AMD, backing his buy rating, is $66, implying an upside of 19%. (To watch Steve’s track record, click here)AMD’s recent sharp gains have pushed the stock’s share price well above the average price target, and analysts have not yet readjusted their outlook. As Steves’ double target upgrade show, events in the chip industry are moving quickly. AMD’s Moderate Buy consensus rating is based on mixed reviews, and includes 11 Buy and 13 Holds. (See AMD stock analysis at TipRanks)Nvidia Corporation (NVDA)In an interconnected sector like semiconductor chips, nothing happens in a vacuum. We mentioned Nvidia above, in relation to gaming chips. This company is a market leader in graphics processing units (GPUs), a key component in both professional and gaming computing systems. The memory and performance requirements of the graphic design industry run parallel to those of high-end gamers. Nvidia’s expertise with high performance memory chips has also made its products valuable in the data center market.With its foundations firm in several markets – professional designers, data centers, and gamers – Nvidia has built up a $186 billion market cap and an annual sales base near $12 billion. With that strong base, NVDA reported both earnings and revenue beats in Q4 2019.On the top line, revenue came in at $3.11 billion, up 3% sequentially, an impressive 41% year-over-year, and beating the forecast by 5%. EPS was reported at $1.89, a solid 14% over the estimate – and an eye-popping 136% year-over-year gain. The GPU segment rose 40% annually, and gaming revenues were up 56%. Nvidia’s data center business showed a 33% sequential gain and a 43% annual gain. It was good news all around, even for a stock that has seen 42% growth in the last three months, on top of 76% gains in calendar 2019.Nvidia’s strong quarter impressed Cowen analyst Matt Ramsay. Ramsay, who rates 5-stars by TipRanks and is ranked 37 overall in the analyst database, reiterated his Buy rating for Nvidia and raised his price target on the stock by 35%, to $325. His new price target implies an upside potential to the stock of 12%.In his note on NVDA, Ramsay wrote, “[We] believe the results and guidance are driven by a cloud CapEx recovery and the driving force of real-time conversational AI with the scaled ramp of Ampers still to come.” (To watch Ramsay’s track record, click here)All in all, NVDA shares hold a Strong Buy rating from the analyst consensus, based on 23 Buys and 6 Holds given in recent weeks. Shares are not cheap, selling for $289.79. The average price target is $308.85 which suggests room for a modest upside of nearly 7%. (See Nvidia stock analysis at TipRanks)Micron Technology (MU)Last on our chip list Micron, the chip industry’s fifth largest player by sales volume, with over $30 billion in annual sales. The company saw its supply chains – both for manufacturing components and finished products – highly impacted by the US-China trade dispute, but the recent Phase 1 agreement relieved that pressure. Micron compensated by lowering guidance on fiscal Q1, and now the results are in.Micron cleared the lower bar. EPS met the estimates, while revenues beat. The top line number was $5.144 billion for the quarter, 2.3% over the forecast – but, down 35% year-over-year. The annualized drop reflects the lower demand and higher costs in 2019, due to industry pressures related above. EPS, at 48 cents, was as expected, but also showed a steep yoy decline. Still Micron met the analysts expectations for the quarter, investors were satisfied, and the stock is up 7.2% since the earnings release.Micron’s position leading the DRAM chip segment gives the company a clear path to profit from the 5G switchover as the new networks expand nation- and worldwide. And, as with Nvidia and AMD, Micron boasts profitable business in the gamine and data center markets. The company’s diverse customer base should allow it to weather a period of lower earnings, while it adjusts to the new market’s new demands.In the last few days, MU shares have received two upgrades from Wall Street analysts. The first, on February 6, came from 4-star analyst Chris Caso of Raymond James. Caso sees the demand for DRAM memory chips as “likely to improve further at the year progresses.”With that in mind, Caso raised his outlook on the stock from Neutral to Buy and set a $70 price target. Caso’s target implies an upside of 19% to MU shares. (To watch Caso’s track record, click here.)The second upgrade came on February 16, from Timothy Arcuri, 5-star analyst with UBS. Arcuri also raised his outlook from Neutral to Buy, and went further with the price target. He bumped that up by 59%, from $47 to $75. The new price target indicates real confidence in the stock, along with a robust 28% upside potential.Supporting his upgrade, Arcuri writes, “After only modestly outperforming the S&P 500 over the past two years, we believe the time has finally come when Micron can materially outperform over a sustained period of time… Micron is in a much stronger position in a structurally better industry on the cusp of a cyclical upswing that, for DRAM, should last deep into C2021.” (To watch Arcuri’s track record, click here)Micron shares are selling for $58.50, and the average price target of $66.96 suggests that there is room for a 14% upside to the stock. The Strong Buy analyst consensus rating is based on no fewer than 22 Buys, against just 2 Holds and 2 Sells. (See Micron stock analysis at TipRanks)

  • Could Micron Stock Run Up to Its 20-Year-Old High Near $97?

    Could Micron Stock Run Up to Its 20-Year-Old High Near $97?

    It took Nvidia (NASDAQ:NVDA) stock 16 months to recover its all-time highs set on Oct. 1, 2018. The correction was violent, and a slog on the way back up. Meanwhile, Micron (NASDAQ:MU) started its correction a few months before NVDA, and Wall Street absolutely hated it at the time. Sure, it was far from its all-time high that it set almost 20 years ago -- but MU stock has some upside potential developing.Source: Shutterstock Micron stock has been in a strong bullish trend since the 2018 Christmas market crash. It is now up more than 90% since Christmas Eve 2018, but the purpose of this article is to bring focus to the possibilities that exist above current levels.In May of 2018, Micron failed just below $65 per share while attempting a big breakout. If the bulls can take it out now, they can trigger a bullish pattern that will finally challenge the all-time highs with about $30 of upside -- maybe more. This set up took decades to form, so it is likely to be a slow mover.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMoreover, it won't trigger until we get confirmation above the last failures at $65. It will be important not only to overtake it, but to also establish it as forward support. * 7 Exciting Stocks to Buy for Aggressive Investors Only then will the pattern set and MU stock would off to the races. That said, momentum traders love to buy high and sell higher. Big Upside Potential Brewing in MU Stock Click to Enlarge Source: Charts by TradingView I know this sounds crazy, but I had the same observation when MU stock approached $36 per share.Back then in the fall of 2017, the same pattern triggered and filled its entire target to these levels here. So from a trading perspective, those already long on Micron stock are set. However, if looking to get long on it now, jumping the gun is not ideal. The next few dollars are tricky, and I prefer seeing the breakout confirmation before chasing the upside.Overall, there are other things that investors can do, like selling puts in the meantime. The alternative is to simply wait for dips and buying those just to have a better cost basis.What adds to the hesitation here is that the entire stock market is at all-time highs in spite of the coronavirus from China threat. One thing is clear on that front and that is we have a lot of unknowns. Micron and the global economies depend heavily on China for a lot of growth. It's been dubbed the "global engine" for that for a long time. So if it falters, everyone will feel it.In short, the equity markets are vulnerable to corrections from these record levels. Patience may prove prudent, and at worst, investors should consider taking partial positions to leave room for managing risk on bad days. Nevertheless, the bulls are in charge -- and they are buying every dip. Shorting stocks these days is risky, thereby giving advantage for the upside direction. Micron Fundamentals Are Not As Cheap as BeforeAs Micron fell back into favor on Wall Street, it became more expensive. And it now sells at a blistering 19.2 trailing price-earnings (P/E) ratio.I remember recent days when it was falling below $30 per share, and the experts were calling it a value trap. At the time, it had a P/E under three. And now, it's six times more expensive and they love it without any major changes inside the company.Expert expectations add another layer of risk. But clearly, we don't need the opinions of the so-called experts to trade MU stock. My concern is its relative value. The current 19 P/E ratio is not insanely bloated in absolute terms, but it is astronomical relative to its own history. In my book, Micron here is far from a bargain -- so conviction needs to be strong if buying it new.Today, it gets an extra tailwind from sympathy love for the Nvidia's earnings reaction. I hesitate to buy sympathetic rallies because they tend to fade. Therefore, I bet that waiting out a few days will turn out to be the best course of action. Even at the risk of missing out on a few upside bucks.Nicolas Chahine is the managing director of As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Exciting Stocks to Buy for Aggressive Investors * 20 Stocks to Buy From the Law of Accelerating Returns * 7 U.S. Stocks to Buy on Coronavirus Weakness The post Could Micron Stock Run Up to Its 20-Year-Old High Near $97? appeared first on InvestorPlace.

  • Investopedia

    Micron Technology Stock Could Break Out to New High

    Micron Technology shares could break 2018 resistance in coming weeks and head toward a long-awaited test at the 2000 internet bubble high.


    The S&P 500 Just Had Its 11th Record Close in 2020. Here’s Why It Can Keep Rising.

    With markets at record levels as fear over the coronavirus diminishes—for now—one optimist says stocks are only going higher. Stifel raised its target for the S&P 500 to 3450 from 3260 on Tuesday.

  • Micron stock rallies as another analyst affirms memory-chip market recovery

    Micron stock rallies as another analyst affirms memory-chip market recovery

    Micron Technology Inc. shares rally to lead gains among chip maker stocks Wednesday after another analyst declares the memory-chip glut of 2019 over and boosts his rating on the stock.

  • US STOCKS-Wall St sets record closing highs as coronavirus fears subside

    US STOCKS-Wall St sets record closing highs as coronavirus fears subside

    Technology shares led the broad-based rally, which pushed all three major U.S. stock averages to fresh highs. The S&P 500 and the Nasdaq have now set closing highs for three consecutive sessions. "Obviously, the market is relieved over the fact that it appears that new cases of the coronavirus seem to be dwindling," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

  • MarketWatch

    Dow, S&P 500 and Nasdaq notch record closes

    U.S. stocks closed higher Wednesday, sending all three benchmark indexes to record closes. The Dow Jones Industrial Average added 274 points, 0.9%, to close at about 29,551, while the S&P 500 closed 22 points, 0.6%, higher, near 3,379. The Nasdaq Composite Index jumped 0.9%, adding about 87 points to close near 9,723. Investors were cheered by receding fears about the COVID-19 virus, the contagion that reportedly originated in Wuhan, China last year, and by buoyant corporate quarterly results. In company news, shares of Shopify Inc. surged nearly 10% after its fourth-quarter results came in better than analysts' expectations, while shares of Micron Technology Inc. jumped close to an all-time high after an analyst upgrade.

  • 5 Top Stock Trades for Thursday: MU, LYFT, SHOP, CVS, CYBR

    5 Top Stock Trades for Thursday: MU, LYFT, SHOP, CVS, CYBR

    U.S. stocks again pushed to new highs on Wednesday, as equities continue to race higher despite coronavirus worries. That said, let's look at a few top stock trades for Thursday. Top Stock Trades for Tomorrow No. 1: Micron (MU) Click to Enlarge Source: Chart courtesy of StockCharts.comOne of investors' favorite chip stocks continues to plow higher. As Micron (NASDAQ:MU) stock climbs, it's now hitting new 52-week highs. The only thing left? Taking out its highs from 2018.Shares are coming into a tough resistance zone near $61, but over that mark puts the March 2018 high of $63.42 and the May 2018 high of $64.66 on the table. Over those marks, and MU stock may continue to gain momentum.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 U.S. Stocks to Buy on Coronavirus Weakness On a pullback, bulls will want to see the 10-week moving average hold as support. Below that puts the $52.50 level on watch. A further drop, and the 50-week moving average and uptrend support (blue line) will be on the table. Top Stock Trades for Tomorrow No. 2: Lyft (LYFT) Click to Enlarge Source: Chart courtesy of StockCharts.comAfter Uber (NYSE:UBER) ripped higher on better-than-expected results last week, Lyft (NASDAQ:LYFT) just couldn't deliver. That's too bad, as bulls were bidding shares higher in hopes of an inspiring quarter.Now, the stock is below the key $50 level, as well as the newly established 200-day moving average. If Lyft can reclaim these two marks, it puts the pre-earnings high on the table.On the downside, bulls would like to see the 50-day moving average currently near $47 hold as support. However, the must-hold mark is the 100-day moving average and uptrend support (blue line) near $45. Below puts the 2020 lows on the table around $42.50. Top Stock Trades for Tomorrow No. 3: Shopify (SHOP) Click to Enlarge Source: Chart courtesy of StockCharts.comMan, Shopify (NYSE:SHOP) continues to blow the roof off, with its latest earnings report propelling the stock to nearly $600 earlier! However, the stock is being met with sellers. What gives?I would guess it's a few things. First, the valuation here is very high, causing some investors to take some chips off the table even on solid results. Second, anyone who bought in the fourth quarter is sitting on massive short-term gains. That's likely triggering some profit-taking, too.In any regard, we need to see where SHOP finds its footing here. North of $500 still bodes well for the bull case, although shedding almost all of its post-earnings gains would be discouraging for obvious reasons. * 7 Smart Blue-Chip Stocks to Buy Now Let's see if SHOP can hold the $550 mark. Once we have a day-range to trade against, investors can either play for retest of the highs or a break of Wednesday's low, which will likely fill more of the recent gap. Top Stock Trades for Tomorrow No. 4: CVS Health (CVS) Click to Enlarge Source: Chart courtesy of StockCharts.comCVS Health (NYSE:CVS) is having a mild reaction to its earnings results, but there are still some positives on the weekly chart.Going back to late 2016, one can see that the 200-week moving average has been resistance for quite some time (purple arrows). In Q4 2019, CVS broke out over this mark -- and while it did fall back below it earlier this month, CVS reclaimed the 200-week moving average and continues to hold it as support (blue circle).In its post-earnings action, shares are testing into the recent range highs. Now, see how CVS handles the $77.50 area. This too has been multi-year resistance. Over it, though, and $80-plus is possible.If $77.50 holds as resistance, and/or CVS goes through a pullback, I want to see the 200-week moving average and uptrend support (blue line) hold as support. Top Stock Trades for Tomorrow No. 5: CyberArk (CYBR) Click to Enlarge Source: Chart courtesy of StockCharts.comIn late 2019 and early 2020, CyberArk Software (NASDAQ:CYBR) put together nine consecutive gains, as shares rose from $117 to $140. From there, it formed a tight range between $137.50 and $142.50.Unfortunately for bulls, that range is resolving lower -- gapping below uptrend support (blue line) and the 50-day moving average. Now losing the 200-day moving average, CYBR stock is trying to hold the 100-day moving average.Below the latter does not bode well for the bulls, as CYBR is clearly losing the momentum battle. Back over the 200-day moving average, and perhaps CyberArk can rally back to the 50-day moving average. Below Wednesday's low, however, and $110 or lower could be possible.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 U.S. Stocks to Buy on Coronavirus Weakness * 7 Smart Blue-Chip Stocks to Buy Now * 7 Low-Volatility Stocks to Buy In Jittery Times The post 5 Top Stock Trades for Thursday: MU, LYFT, SHOP, CVS, CYBR appeared first on InvestorPlace.

  • US STOCKS-Wall St reaches record highs on waning coronavirus fears

    US STOCKS-Wall St reaches record highs on waning coronavirus fears

    All three major U.S. stock averages reached record highs on Wednesday as news that the dreaded coronavirus could be running out of steam kept buyers in the ring. Technology shares led the broad-based rally, which set the S&P 500 and the Nasdaq up for their third consecutive all-time closing highs. Market participants closely watched as U.S. Federal Reserve chair Jerome Powell wrapped up his semiannual economic report before congress, during which he reiterated that the central bank is closely monitoring the coronavirus and other threats.

  • US STOCKS-Wall St hits fresh highs as new coronavirus cases drop

    US STOCKS-Wall St hits fresh highs as new coronavirus cases drop

    Wall Street's main indexes hit record highs on Wednesday on optimism that the coronavirus epidemic will be contained and as Bernie Sanders cemented his front-runner status in the race of the Democratic nomination.


    The Dow Is Gaining Because Coronavirus Concerns Are Fading Away

    The three major U.S. stock market indexes rose as investors hoped that the coronavirus outbreak may be near its peak. Oil has gained and copper is rallying, too.


    Micron Stock Is Rallying After an Analyst Projected a Rebound in Memory-Chip Pricing

    UBS analyst Timothy Arcuri lifted his rating on the stock to Buy from Neutral and raised his target price to $75 from $47.

  • MarketWatch

    Micron stock surges after UBS upgrade

    Micron Technology Inc. shares were up 5.5% in Wednesday morning trading after UBS analyst Timothy Arcuri upgraded the stock to buy from neutral and raised his price target to $75 from $47. "After only modestly outperforming the S&P 500 over the past two years, we believe the time has finally come when Micron can materially outperform over a sustained period of time," he wrote. "We consider both the cyclical and structural aspects to both Micron and the memory industry as a whole and conclude that Micron is in a much stronger position in a structurally better industry on the cusp of a cyclical upswing that, for DRAM, should last deep into C2021." He also said that he believes Micron's stock warrants a higher multiple since the company's competitive position is getting better and its "through-cycle financial comparable to or even better than other major semis peers with integrated manufacturing models like Intel or Texas Instruments ." Micron shares have added 29% over the past three months as the S&P has risen 9.2% and the PHLX Semiconductor Index has gained 12.9%.

  • Reuters

    CORRECTED-US STOCKS-Futures higher on drop in new coronavirus cases

    U.S. stock index futures rose on Wednesday after a drop in the number of new cases of coronavirus infections in China raised hopes that the economic fallout from the outbreak would be contained. China on Wednesday reported its lowest number of new coronavirus cases since January, lending weight to a prediction by its top medical adviser for the outbreak to end by April, even as the death toll in the country rose to more than 1,100 people. Most experts believe China faces a short but sharper economic shock than originally thought, one that will be felt around the world.


    Micron Shares Jump After UBS Boosts Rating, Price Target Into 'Cyclical Upswing' For Memory Markets

    Micron is in a stronger position than some industry peers to capitalize on a near-term upswing in global memory prices, UBS analysts argued Wednesday.

  • NOVA's new president wants to raise its profile. She lays out her vision in her first interview.
    American City Business Journals

    NOVA's new president wants to raise its profile. She lays out her vision in her first interview.

    On Northern Virginia Community College’s first day of classes this semester, Anne Kress set out to visit all six of the school’s campuses as its new president. Kress sat down with us to discuss her vision for the college — Virginia’s largest, with 75,000 students across campuses in Alexandria, Loudoun, Manassas, Woodbridge, Springfield and Annandale. The Advance partnership, [a program that guarantees subsequent enrollment at George Mason University after completing two years at NOVA], is remarkable.

  • Applied Materials (AMAT) Preview: Buy the Semiconductor Stock Ahead of Earnings?

    Applied Materials (AMAT) Preview: Buy the Semiconductor Stock Ahead of Earnings?

    Applied Materials has topped quarterly earnings estimates in the trailing four periods to help the stock jump 55% in the last 12 months. Is now the time to buy AMAT ahead of its Q1 fiscal 2020 earnings release...

  • GlobeNewswire

    Micron Technology to Report Fiscal Second Quarter Results on March 25, 2020

    BOISE, Idaho, Feb. 07, 2020 -- Micron Technology, Inc. (Nasdaq: MU), announced today that it will hold its fiscal second quarter earnings conference call on Wednesday, March.


    Buy Micron Stock to Play Higher Memory-Chip Pricing, Analyst Says

    Raymond James’ Chris Caso upped his rating on the memory chip maker to Strong Buy from Market Perform, setting a price target of $70.


    Micron Technology Moves Higher on Analyst Upgrade to Strong Buy

    Shares of chipmaker Micron Technology are higher after receiving another analyst thumbs-up amid an expected strong rebound in chip demand.

  • GlobeNewswire

    Micron Delivers World’s First Mass-Produced, Low-Power DDR5 DRAM for High-Performance Smartphones

    BEIJING, Feb. 06, 2020 -- Micron Technology, Inc. (Nasdaq: MU), today announced it has delivered the world’s first low-power DDR5 DRAM in mass production to be used in the.

  • MarketWatch

    Micron stock rises after double upgrade to 'strong buy'

    Micron Technology Inc. shares were up 2.3% in premarket trading Thursday after Raymond James analyst Chris Caso upgraded the stock by two notches, to strong buy from market perform. He set a $70 price target on the stock. "Our more bullish view is no longer unique, as sentiment has improved sharply due to recent price increases," Caso wrote. "Those price increases, occurring in the seasonally weakest part of the year, indeed surprised us. Nonetheless, our analysis of conditions looking forward concludes that supply/demand conditions are highly likely to improve further as the year progresses." He said that memory capital expenditures have been falling sharply, which will likely cap capacity in the second half of the year, while customer inventory "has normalized." Micron shares have added 19% over the past three months, as the S&P 500 has risen 8.4%.

  • Wall Street Roundup: Analysts Just Gave These 3 Stocks a Thumbs Up

    Wall Street Roundup: Analysts Just Gave These 3 Stocks a Thumbs Up

    As the earnings season gets on and companies start reporting their results from Q4 2019, Wall Street’s analysts are taking note and declaring the winners. It’s not hard to determine which stocks are getting the seal of approval – those companies forecasting or reporting strong earnings.We’ve used TipRanks’ Daily Stock Ratings tool to take a closer look at three companies which have just seen ratings upgrades from top analysts. An upgrade is an important signal for investors to note – it shows that the stock in question has deeply impressed the reviewing analyst.The three companies on this list are Buy-rated, with medium to large market caps, and boast upwards of 15% upside growth potential. Let’s dive in and find out why they earned coveted upgrades.General Electric Company (GE)First up is a long-time stalwart of the Dow Jones Industrial Average. General Electric is a multinational manufacturing conglomerate, with segments in aviation, digital industry, finance, power, renewable energy, and venture capital, to name just a few. The company saw over $121 billion in revenues for fiscal 2018, and employs over a quarter of a million people worldwide. Despite various industry and financial headwinds that pushed share prices down in 2018 and 2019, GE remains a blue-chip stock and a staple of the markets.The fourth quarter of 2019, reported just last week, marked a possible turnaround for the company. Earnings and revenues both beat the forecasts. The top line number, at $26.2 billion, was 2.6% better than expected, while the 21-cent EPS beat the estimates by over 16%. An important metric, the company reported free cash flow of $2.3 billion for the year, beating its own guidance by 1.5%. The strong quarterly release has pushed GE shares to a 13% gain year-to-date.Andrew Obin, 4-star analyst from Merrill Lynch, was pleased with GE’s results. He wrote, “The company has undergone a significant reinvestment cycle, positioning it well from a competitive standpoint. The improving FCF trajectory should be supportive for shares.”Obin bumped up his rating on GE from Neutral to Buy, and raised the price target from $12 to $16, suggesting a robust 27% upside potential. (To watch Obin’s track record, click here)With 15 analyst ratings given recently, including 10 Buys, 4 Holds, and a single Sell, GE stock gets a Moderate Buy from the analyst consensus. Shares are priced low, at just $12.58, but the $14.23 average price target indicates room for 13% upside growth in the coming 12 months. (See General Electric stock analysis on TipRanks) Micron Technology, Inc. (MU)Micron is a major player in the semiconductor chip industry, with its $31.8 billion in sales in 2018 making it the fifth largest chip maker. Like much of the industry, Micron has been heavily pressured by the US-China trade tensions – the company’s manufacturing and supply lines are highly dependent on the free movement of goods, materials, components, and completed products between the US and China. The recent positive developments on that front, including the signing of the Phase 1 agreement between the US and Chinese governments, has relieved some of that pressure.The pressure, however, has been real. MU’s earnings are down significantly from a year ago. The company responded by lowering guidance on fiscal Q1 2020. In the recent report for that quarter, MU beat the lower guidance as well as the Street’s estimates on revenues and earnings – it was a good sign for Micron. Revenues were reported at $5.14 billion, 2.5% above expectations, and EPS, at 48 cents, edged out the forecast by 2%.Micron is an industry leader in the DRAM chip segment, which bodes well for the company as 5G networks expand and demand increases for compatible chips. In addition to its strong positioning for 5G, Micron is also strongly ensconced in the gaming and data center segments, giving it a diverse customer base.Morgan Stanley analyst Joseph Moore likes Micron’s market position, citing the increased need for memory chips. He wrote, “Channel checks make it clearer that customers are building real conviction that memory will tighten [more demand versus supply] over the course of 2020, which is leading them to put more inventory into place…”Moore declined to set a price target on MU shares, but he did upgrade his stance from Neutral to Buy. (To watch Moore’s track record, click here)Overall, MU shares have a Moderate Buy analyst consensus rating, based on an impressive 20 Buys, along with 4 Holds and 2 Sells. The $65.61 average price target suggests a premium of 18% from the current share price of $55.50. (See Micron stock analysis on TipRanks) Generac Holdings, Inc. (GNRC)With our third stock, we enter the realm of backup power generation. For better or worse, our world runs on electricity, and so ensuring a steady supply is essential – in industry, tech, and even in your home. Generac offers an array of backup electric generators for the residential, light commercial, and industrial markets, ranging in output from 800 watts to 9 megawatts. The company manufactures its products in the state of Wisconsin, and does over $2 billion in business annually.In its last four reported quarters, Generac has beaten expectations every time. Earnings consistently rose through 2019, with the last reported quarter, Q3, showing revenues of $601.14 million and EPS of $1.43. The company’s average quarterly beat in 2019 was over 9%. Q4 results will be released on February 13, but analysts are optimistic that the company will show similarly positive results. Not to mention GNRC shares gained an impressive 102% in 2019.5-star analyst Christopher Glynn, of Oppenheimer, sums up the upbeat outlook on GNRC in his recent note on the stock. He writes, “We see solid prospects for revenue upside and improving visibility to long-term scaling… The sustained strength in core standby demand fundamentals coupled with emergence of the California market and launch into clean energy support an estimated 11% 2020 residential growth.”In line with his outlook, Glynn upgraded GNRC from Neutral to Buy, and set a price target of $125. This target suggests room for 20% share appreciation this year. (To watch Glynn’s track record, click here)Generac is not a cheap stock; it is priced at $104.28. Glynn’s is the most recent review on the company, but a stock with this potential is likely to attract more analyst love; this is definitely one to watch. (See Generac stock-price forecast on TipRanks)

  • GlobeNewswire

    Micron Technology Announces Upcoming Investor Event

    BOISE, Idaho, Feb. 04, 2020 -- Micron Technology Chief Business Officer Sumit Sadana and Chief Financial Officer David Zinsner will participate in a fireside chat at the.