Shares of Micron Technology Inc (NASDAQ:MU) dipped in early trading on Wednesday despite a strong fiscal fourth quarter report.
Key Analyst Takeaways
- RBC Capital Markets analyst Matt Bryson reiterated an Outperform rating, while raising the price target from $200 to $220.
- KeyBanc Capital Markets analyst John Vinh maintained an Overweight rating, while lifting the price target from $160 to $215.
- Needham analyst Quinn Bolton reaffirmed a Buy rating, while taking the price target higher from $150 to $200.
- Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating, while raising the price target from $150 to $200.
- BofA Securities analyst Vivek Arya maintained a Neutral rating, while lifting the price target from $140 to $180.
Check out other analyst stock ratings.
RBC Capital Markets: Micron delivered a beat on sales and margins, which resulted in “significantly” better-than-expected earnings. The company projected first-quarter margins higher than 50%, which no one was expecting, Bryson said.
Micron’s pricing trends were even more favorable than the company “implicitly guided to,” the analyst stated. “Management talked to DRAM likely being in undersupply through the whole of 2026,” he further wrote.
KeyBanc Capital Markets: Micron generated $11.3 billion in revenue and earnings of $3.03 per share. …