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Technology Stocks : Semi Equipment Analysis
SOXX 312.18-0.2%Dec 9 4:00 PM EST
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To: Donald Wennerstrom who wrote (77199)9/27/2017 2:15:53 PM
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Wall Street Analysts Ride The Micron Earnings Train
12:17 pm ET September 27, 2017 (Benzinga)

Micron Technology, Inc. (NASDAQ: MU) shares jumped 8 percent Wednesday after the company topped market expectations for fiscal fourth-quarter revenue and EPS and issued forward guidance above Wall Street’s expectations.

A number of Wall Street analysts weighed in on Micron following the report. Here’s a rundown of what they had to say.

Voices From The Street

Stifel analyst Kevin Cassidy said investors remain skeptical of Micron given its forward PE ratio of only around 5.0, but the current semiconductor cycle may be different from past cycles. “Importantly, we view 3D NAND Flash and DRAMs as now addressing multiple end markets with a wider variety of feature sets, i.e. less commoditization,” Cassidy wrote.

Baird analyst Tristan Gerra said Micron’s gross margins are sustainable throughout 2018, making the stock's depressed valuation compelling for investors. “Micron's continued mix improvement in NAND (easy comp), above-average 3D yields, and corporate initiatives also support a scenario for stable or expanding gross margin over the next several quarters,” Gerra wrote.
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