Micron stock falls after Needham lowers price target [MarketWatch]
Micron Technology, Inc. (MU)
Last micron technology, inc. earnings: 3/25 04:01 pm
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Source: MarketWatch
Micron stock falls after Needham lowers price target Shares of Micron Technology Inc. MU, +0.11% are down 1.6% in premarket trading Monday after Needham analyst Rajvindra Gill cut his price target to $80 from $100, though he maintained his "strong buy" rating. "After posting a stellar F4Q18, Micron guided gross margins to decline quarter over quarter...due to the Chinese tariffs and some inventory adjustments at a specific customer," Gill wrote. He expects that it will take three or four quarters for the issue to be resolved. "While disappointing, this is largely out of the hands of the company and we would highlight a projected year over year gross margin increase of 160 to 460 basis points." The stock is up 24% over the past 12 months, as the S&P 500 SPX, -0.22% has gained 17%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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MU
News
- Biden, Seeking to Build on Fruitful Week, Announces Billions in Chip Grants [The New York Times]The New York Times
- Micron's $6.1B CHIPS Act Funding Propels Major Expansion In US [Yahoo! Finance]Yahoo! Finance
- Huawei-led firms receive Chinese backing to build advanced AI chips: report [Seeking Alpha]Seeking Alpha
- Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants [The New York Times]The New York Times
- Biden to announce preliminary deal with Micron for up to $6.14 bln in chip grants [Reuters]Reuters
MU
Earnings
- 3/20/24 - Beat
MU
Sec Filings
- 4/25/24 - Form 4
- 4/23/24 - Form 4
- 4/22/24 - Form 4
- MU's page on the SEC website