WDC, NAND, NVM, enterprise storage systems, etc. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

SNDK 183.47

-6.4%

10:41 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Unwelcomeguest who wrote (3780)	5/22/2018 8:53:20 AM
From: Sam	Read Replies (1) of 4828

Micron is well over $59 now pre-market. Bid-ask is $59.60-59.62 at the moment, bouncing around of course. Over 3.5 million shares traded already. WDC is also up, $88-88.20 is the B-A. Micron shares surge 6.8% premarket as analysts cheer $10 billion share buyback MARKETWATCH 8:31 AM ET 5/22/2018 Micron Technology Inc. (MU) shares (MU) 6.8% in premarket trade Tuesday, as analysts weighed in on the news the company is planning at $10 billion share buybaci. the news "is a big vote of confidence in the strength of the business model," wrote Ruben Roy at MKM Partners. "MU held an upbeat and well-attended analyst day where management highlighted market trends that are expected to drive continued demand for increasing memory density growth across a wide array of end market applications," Roy wrote in a note, reiterating his buy rating on the stock. Stifel analyst Kevin Cassidy agreed, and said that management addressed investor concerns about capacity "by explaining that y/y bit capacity increase is limited to 20% for DRAM and 40%-45% for NAND Flash despite CapEx increases y/y. Management's discussions were around both Micron and the memory industry transforming," he wrote. Cassidy also rates the stock a buy. JPMorgan analyst Harlan Sur is also sticking with his overweight rating. "Our key takeaways are that Micron is executing well on its production roadmaps and steadily closing the cost/competitive gap with its main competitors in a constructive supply/demand environment that is leading to strong free cash flow generation, resulting in the team instituting a strong capital return program," Sur wrote. Micron shares have gained 98% in the last 12 months, while the S&P 500 has gained 14%. -Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next