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Highlights From Wall Street Analyst Notes on Micron Q2 Earnings

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Shares of Micron (NASDAQ: MU) have been volatile after the company released second quarter earnings. Shares are trading at the lower end of the range created in Thursday's after-hours trading.

Multiple analysts have released notes and thoughts on the quarter. Below are some of the highlights.

Wells Fargo, who remains bearish on Micron, believes “NAND trade gross margin could fall in May.” Investors “may be overestimating the near-term earnings potential of the company.”

Nomura analyst expects DRAM business to bottom in the third quarter, “as industry supply normalizes and demand reaches a seasonal trough.”

“What's interesting is that despite Hynix' Wuxi fab coming online and a seasonally slow demand environment,” said Raymond James. The firm sees “numerous catalysts for margin expansion in August including qualification of the Singapore NAND in higher margin products like SSDs.”

Stifel “continues to see the collective memory market as becoming rational, and Micro management as focused on optimizing the value of its memory products.”

Shares are down 1.7 percent to $23.58, which is slightly less of a loss compared to the NASDAQ, down 1.9 percent.

Latest Ratings for MU

DateFirmActionFromTo
Jun 2014MacquarieMaintainsNeutral
Jun 2014NeedhamUpgradesBuyStrong Buy
Jun 2014JefferiesMaintainsBuy

View More Analyst Ratings for MU
View the Latest Analyst Ratings

Posted-In: Nomura Raymond James Stifel Wells FargoAnalyst Color Analyst Ratings Movers Tech

 

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