60.06 -0.08 (-0.13%)
After hours: 7:59PM EDT
|Bid||60.04 x 1400|
|Ask||60.06 x 900|
|Day's range||58.75 - 60.99|
|52-week range||25.43 - 63.42|
|PE ratio (TTM)||9.40|
|Earnings date||22 Mar 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||62.75|
Mar.19 -- Jim Strugger, MKM Holdings derivatives strategist, discusses his options strategy for Micron Technology with Abigail Doolittle on "Bloomberg Markets."
Jim Strugger, MKM Holdings derivatives strategist, discusses his options strategy for Micron Technology with Abigail Doolittle on "Bloomberg Markets." (Source: Bloomberg)
Micron Technology (MU) is enjoying a strong market environment, especially in the DRAM (dynamic random access memory) market, which is driving its stock and earnings. The company has been guiding that an oversupply situation will continue in the DRAM market in 2018, with the DRAM industry supply expected to grow 20% and demand expected to grow more than 20%. The 20% supply includes new capacity being introduced by competitors Samsung (SSNLF) and SK Hynix.
Semiconductor powerhouse Micron (MU) has been on a tear over the last year as its memory chips prove more vital and valuable to an array of industries. But Micron's current run could be slowed if the company doesn't perform up to its newly lofty standards in the soon-to-be-reported quarter.
Micron Technology (MU) stock is rallying ahead of its fiscal 2Q18 earnings as analysts raise their price targets and earnings estimates for the stock. According to a NASDAQ article, Zacks has revised Micron’s 2018 earnings estimate eight times in the last two months, and all the revisions have been upward. Mizuho Securities analyst Vijay Rakesh expects Micron to report revenue of $7.3 billion in 2Q18 compared to the consensus estimate of $7.2 billion. It increased its revenue guidance from the previous range of $6.8 billion–$7.2 billion to $7.2 billion–$7.4 billion.
Micron Technology (MU) stock has attracted investors’ attention over the past year. It was the fastest-growing semiconductor stock in 2017 and continues to hold that spot in 2018 as the memory market environment continues to remain favorable for suppliers. MU stock rose 43% YTD (year-to-date), outperforming the S&P 500 index (SPY) and the semiconductor memory industry, which rose 3.2% and 41.2%, respectively.
The "extraordinary" performance of growth stocks over the past year doesn't mean those names are slowing down anytime soon, according to Goldman Sachs.
Improved demand and pricing for DRAM anticipated to propel Micron's (MU) top- and bottom-line growth in second-quarter fiscal 2018.
Investors should prepare for some bigger swings from Micron when it reports earnings on Thursday, derivative strategist Stacey Gilbert says.
In the 71 years since the transistor was invented, that tiny breakthrough has produced enormous technological accomplishments, far more than William Shockley, one of its inventors, could have ever imagined. The bean-counting analysts who track chip giant Broadcom (AVGO) were almost universally in its corner during its $117 billion hostile bid for Qualcomm (QCOM). Now, Wall Street wants to know what Broadcom will try to buy as plan B. Broadcom CEO Hock Tan said on Thursday that Trump’s rejection hasn’t deterred his thirst for acquisitions.
Micron Technology (MU) investors need not be too worried about expansion of DRAM chip capacity by Samsung Electronics (005930KS), according to a note today from KeyBanc Capital Markets analyst Weston Twigg. Twigg, who has an Overweight rating on Micron stock, writes that he spoke yesterday evening with Samsung “to get more clarity on its DRAM expansion plans this year." The upshot, as he sees it, is that the total amount of bits Samsung is driving up with additional capacity is below the level of expected demand, so it’s okay: Samsung, which represents 35-40% of DRAM production, indicated that it may grow its net DRAM wafer starts per month (wspm) by around 10% for the year (implying around 40k in new wspm), and that it would likely exit 2018 at a slightly higher rate than that.
The Fed is expected to raise interest rates for the first time this year on Wednesday, and the question is what it will say about the rest of the year.
Fears of an oversupply and price wars in the chip-storage market have softened, lifting the stocks of Western Digital, Micron, Smart Global Holdings and others.
The Fed will hold a policy meeting, and another rate hike is expected, while President Trump's steel and aluminum tariffs are due to take effect.
The S&P and Dow Industrials rose on Friday as strong U.S. industrial output numbers boosted stocks across sectors, though equities were on track for overall losses this week. Energy led the major sectors of the S&P 500 with a 0.9 percent gain, as oil prices rose by more than a dollar.
Tristan Gerra with R.W. Baird is having a serious bullish day with NAND flash today, not only raising his price target on memory chip maker Micron Technology (MU), but also raising his rating on shares of its NAND competitor, Western Digital (WDC), to Outperform from Neutral. Gerra observes pricing has held up better than expected for NAND: NAND pricing declines are more muted than supply chain expectations entering the quarter, with contract pricing expected to decline 3-4% in C1Q QoQ, and down in a higher single-digit range in C2Q, also better than seasonal. -We now expect NAND contract pricing to decline 15-20% in C2018, less than our initial expectation, and now within the range of Western Digital's targeted production cost reductions. He thinks two things happen next: supply may become tighter the second half of this year, relative to demand, and that may help to boost margins for Western.
Memory chip maker Micron Technology (MU) is due to report earnings next Thursday, March 22nd, after the closing bell, and J.P. Morgan’s Shawn Quigg offers an options strategy to play it if you’re a little concerned about the 38% run-up in the shares in the last month. The fundamental view on the company is positive, notes Quigg, citing the work of JP Morgan’s Harlan Sur, who has an Outperform rating on the stock, and a $60 price target. Quigg advises "overlaying stock positions with May 65/70/75 call trees (i.e.
Several major companies with non-traditional calendars report earnings in the coming days. Make sure to keep an eye on these companies as they prepare to report during the week of March 19!
CFO Thomas Krause on a conference call with analysts said that he and CEO Hock Tan see potential M&A targets, and would not be held back despite the fact the company had to walk away this week from its hostile bid for Qualcomm (QCOM). There are no ratings changes, that I can see, but price targets are going higher as estimates go higher at many shops.