These Analysts Cut Price Targets On Micron Following Q4 Results

These Analysts Cut Price Targets On Micron Following Q4 Results

Micron Technology, Inc. MU posted upbeat earnings for its fourth quarter, while sales missed estimates. The company also issued Q1 revenue guidance below estimates.

Micron reported fourth-quarter revenue of $6.64 billion, which missed average analyst estimates of $6.68 billion. The company's top-line results were down from $8.64 billion year-over-year.

Micron shares gained 0.5% to $50.26 on Friday.

These analysts made changes to their price targets on Micron following the release of quarterly results.

  • Needham cut the price target on Micron from $64 to $60. Needham analyst Rajvindra Gill maintained the stock with a Buy.
  • Mizuho lowered price target on Micron from $56 to $52. Mizuho analyst Vijay Rakesh maintained Micron with a Neutral.
  • Stifel cut the price target on Micron from $56 to $54. Stifel analyst Brian Chin maintained a Hold rating on the stock.
  • B of A Securities slashed price target on the stock from $62 to $58. B of A Securities analyst maintained Micron with a Neutral.
  • BMO Capital cut price target on the stock from $80 to $70. BMO Capital analyst Ambrish Srivastava maintained Micron with an Outperform.
  • Morgan Stanley slashed price target on the stock from $56 to $49. Morgan Stanley analyst Joseph Moore maintained Micron with an Underweight. 
  • Deutsche Bank slashed price target on the stock from $68 to $60. Deutsche Bank analyst Sidney Ho maintained Micron with a Buy. 
  • Piper Sandler slashed price target on the stock from $50 to $45. Piper Sandler analyst Harsh Kumar maintained Micron with an Underweight. 

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