News Breaks |
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| June 20, 2012 |
| 10:15 EDT |  | MU | Earnings Preview: Micron's DRAM products likely to return to profitability
Micron (MU) is expected to report Q3 earnings after the market close on Wednesday, June 20, with a conference call scheduled for 4:30 pm ET. The consensus estimate is (20c) for EPS and $2.0B for revenue, according to First Call. Micron registered a sequential decline of about 4% in its last quarter earnings, as seasonal factors combined with supply chain disruptions due to floods in Thailand and the overall economic instability continued to take a toll on the company. However, the company is expected to register growth in the current year with the growing consolidation in the dynamic random access memory, or DRAM, market. Also, the exponential growth in tablets and smartphones will drive up NAND sales. Micron has missed EPS estimates each of the last four quarters. Stifel Nicolaus is comfortable with its estimates for EPS of (23c) and $1.94B in revenue. These are slightly below the Street's estimates; the 2c difference in EPS may be Stiefl’s inclusion of about a $20M charge related to a Virginia fab lease. While Micron's operating model should improve through CY12, Stifel believes investors are waiting for more details on Micron's 'sponsorship' of Elpida's restructuring. Stifel expects management may only be able to frame the nature of the discussions during the earnings conference call. In Stifel's view, Micron trading at about 0.8x book value is very attractive. Considering Micron may become only one of the three remaining DRAM suppliers in the world, the firm expects DRAM buyers may be in negotiations with Micron to assure a steady source of supply. This should lead to Micron's DRAM products returning to profitability, Stifel writes in a recent note. |
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News For MU From The Last 14 Days Check below for free stories on MU the last two weeks. |
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| June 18, 2013 |
| 11:52 EDT |  | MU | Stocks with call strike movement; REGN MU
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| June 17, 2013 |
| 13:12 EDT | | MU | Micron June volatility elevated at 96 into Q3 and DRAM supply outlook
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| 10:11 EDT |  | MU | Micron advances after analysts up price targets
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| 09:08 EDT |  | MU | Micron price target riased to $20 from $14 at Credit Suisse
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| 08:22 EDT | | MU | Micron price target raised to $18 from $15 at Jefferies
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| 07:24 EDT | | MU | Micron price target raised to $19 from $13.50 at Citigroup
Citigroup said it remains positive on shares of Micron given the Elpida deal and rising memory prices. The firm raised its price target for shares to $19 and reiterates a Buy rating on the name. |
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| June 14, 2013 |
| 12:45 EDT | | MU | Stocks with call strike movement; JCP MU
J.C. Penney (JCP) January call option implied volatility increased 2% to 50, Micron (MU) January 16 call option implied volatility increased 2% to 48 according to IVolatility. |
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| June 12, 2013 |
| 11:52 EDT | | MU | Stocks with call strike movement; HRB MU
H&R Block (HRB) June 32 call option implied volatility increased 11% to 71, Micron (MU) July 16 call option implied volatility increased 6% to 63 according to IVolatility. |
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| 10:06 EDT | | MU | Micron volatility elevated into Q3 and DRAM supply outlook
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| 10:00 EDT | | MU | Micron estimates raised ahead of Q3 report at Wedbush
Wedbush raised Micron estimates ahead of the Q3 results to reflect a better overall memory pricing environment. Shares are Outperform rated with a $14.50 price target raised from $11. |
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| June 10, 2013 |
| 10:04 EDT |  | MU | On The Fly: Analyst Downgrade Summary
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| 07:17 EDT |  | MU | Storage Networking Industry Association to host conference
Storage Plumbing & Data Engineering Conference is being held in Santa Clara on June 10-12. |
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| 05:48 EDT | | MU | Micron downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Micron citing valuation but raised its price target range for shares to $11-$13 from $10-$12. |
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| June 7, 2013 |
| 12:42 EDT | | MU | Micron April volatility increases as shares approach six-year high
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| June 6, 2013 |
| 07:47 EDT | | MU | Micron price target raised to $16 from $14 at Stifel
Stifel increased its price target on Micron as the firm believes that the May quarter average selling prices for both DRAM and NAND Flash may be higher than previously anticipated. The firm thinks that memory prices could continue to increase well into 2014, and it keeps a Buy rating on Micron. |
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| June 5, 2013 |
| 11:55 EDT | | MU | Stocks with call strike movement; MU APOL
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