Micron Technology (MU)

We reduce F2025/F2026E (Aug) EPS for Micron (MU; $103.90; O/P) from $8.40/$11.20 to $6.75/$8.80 after FQ2E (Feb) guidance badly disappointed the Street, albeit with FQ1 (Nov) profits that were somewhat better than expected despite a…

Micron Technology (MU; $103.90; O/P) reported FQ1 (Nov) non-GAAP EPS of $1.79, which was ahead of our $1.75 and the Street’s $1.76 despite some lower than expected sales ($8,709mm vs. our $8,750mm and consensus of…

We continue to see the shares of Micron (MU; $99.43; O/P) as undervalued into its FQ1 (Nov) results and outlook, scheduled for next Wednesday (12/18 after market). We note the stock is +4% since an…

We raise F2025E (Aug) EPS for Micron (MU; $95.77; O/P) from $8.00 to $8.40 after the company produced solid FQ4 (Aug) EPS upside ($1.18 vs. our $1.12 and the Street’s $1.11) combined with an FQ1E…

We think the shares of Micron (MU; $89.40; O/P) will prove oversold when the company reports FQ4 (Aug) results and outlook on Wednesday (9/25 after market). Admittedly, Micron is now seeing inventory builds in the…

We raise our F2024/F2025E (Aug) EPS for Micron (MU; $142.36; O/P) from $0.90/$8.45 to a more than reasonable $1.20/$8.75, especially when it comes to pricing power and sales mix, after the company produced a solid…

Micron Technology (MU; $142.36; O/P) reported FQ3 (May) non-GAAP EPS of $0.62, which beat our consensus matching $0.48 on higher-than-expected sales ($6,811mm vs. our $6,625mm and consensus of $6,669mm). Recall, Micron called for FQ3 sales…

We raise our target on the shares of Micron (MU; $153.45; O/P) to $185 ahead of the company’s FQ3 (May) results and outlook, scheduled for next Thursday (6/26 after market). We believe recent supply chain…

This morning, Micron (MU; $123.04; O/P) disclosed in an 8-K that last week’s 7.4 magnitude earthquake in Taiwan will limit the company’s DRAM supply during CQ2E by a “mid-single digit percentage” as wafer capacity at…

Micron (MU; $96.25; O/P) left Street estimates “in the dust” with FQ2 (Feb) results and guidance as profits returned a quarter ahead of targets on the back of much better pricing, along with further operating…

Micron (MU; $93.15; E/W) is +18% since its late-December FQ1, suggesting the Street is looking for a pretty complete “beat and raise” with FQ2 (Feb) results and outlook next Wednesday (3/20). Consensus is most bullish…

This morning, Micron (MU; $90.73; E/W) added to yesterday’s news on the much-discussed HBM3E front (“Advancing Its AI Case”; 2/26) with a couple of interesting announcements around its initiatives into mobile device markets (~25% of…

This morning, Micron (MU; $90.44; E/W) announced it started volume production of its next generation high-bandwidth DRAM memory 3E (HBM3E) solution, which the company believes is well positioned to benefit from rising proliferation of generative…

Last week, we hosted an investor meeting for Micron’s (MU; $82.39; E/W) CFO Mark Murphy and the IR team during the Consumer Electronics Show (CES) in Las Vegas. The meeting largely focused on Micron’s DRAM…

We raise F2024/F2025E (Aug) EPS for Micron (MU; $78.69; E/W), after the full release of FQ1 (Nov) results and FQ2E (Feb) guidance, from ($1.60)/$3.60 to ($0.45)/$6.00 to better reflect its “extreme” supply discipline, which is…