MU - Micron Technology Inc

[BullyBob]

Micron price target lowered to $125 from $160 at Raymond James

Raymond James lowered the firm's price target on Micron to $125 from $160 and keeps an Outperform rating on the shares. The price target decrease reflects slower near-term volume growth in non-HBM DRAM and NAND markets, as reiterated by management at recent investor conferences, the analyst tells investors in a research note. The firm sees $11-$12 peak EPS power and believes a higher peak multiple is justified given the strong secular growth from HBM.

The stock is trading down 3.5% today, anyone taking advantage of the dip?

 

[BullyBob]

Citi cut its Micron price target to $150 per share from $175 but kept its buy rating. The analysts expect below consensus numbers when Micron reports quarterly earnings next week. They cite weakness in DRAM, dynamic random access memory, which is a type of semiconductor memory.