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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

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Nov 21 9:30 AM EST

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From: Unwelcomeguest	3/17/2018 5:43:42 PM
	1 Recommendation of 4828

From IBD yesterday... Link: western-digital-micron-stocks-jump-as-memory-chip-crunch-avoided TECHNOLOGYWestern Digital, Micron Stocks Jump As Memory-Chip Crunch Avoided BRIAN DEAGON3/16/2018 Fears of an oversupply and price wars in the chip-storage market have softened, lifting the stocks of Western Digital ( WDC), Smart Global Holdings ( SGH) and Micron Technology ( MU), along with data services provider Carbonite ( CARB), to record-high territory. Western Digital, a leading provider of Nand-flash memory chips and also the largest provider of disk drives, on Friday was upgraded to outperform rating from neutral by Baird analyst Tristan Gerra, based on stronger than expected memory chip trends. Gerra raised his price target on Western Digital to 135 from 90. Western Digital shares were up 4.1% to close at 106.45 on the stock market today, . Earlier in the day shares hit a record high of 106.96. Western Digital shares have rallied 31% since mid-February, as the company has received a slew of price-target increases in recent days and weeks. Gerra also raised his price target on DRAM-chip provider Micron Technology, again citing strong memory chip trends and a significant increase in DRAM pricing. Micron is also a developer of Nand-flash chips. Micron shares jumped 3% to close at 60.58. The company reports quarterly earnings after the market close on Thursday. Gerra followed a move by Mizuho analyst Vijay Rakesh, who on Monday raised his price target on Micron to 66 from 55, and maintained a buy rating. "With Micron past the seasonally weakest portion of the year (smartphones and PCs), we believe the setup looks good," Rakesh said in a research note to clients. "We believe entering into a stronger build season, Micron is well positioned." Micron received bullish reports from analysts last week, as shares hit a record high of 63.42. UWG

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