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Technology Stocks : Semi Equipment Analysis
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From: Donald Wennerstrom9/10/2018 11:05:01 AM
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Micron price target lowered at Susquehanna on DRAM pricing concerns
Published: Sept 10, 2018 8:36 a.m. ET

marketwatch.com

Susquehanna Financial Group analyst Mehdi Hosseini reduced his price target on shares of Micron Technology Inc. MU, +0.50% to $75 from $80 on Monday, writing that memory average selling prices were tracking worse than his expectations.

Following meetings in Korea, Hosseini now models that blended ASPs for DRAM products will fall by 15% to 20% in 2019, though he expects that much of that correction will take place in the first half of the year. He sees indications that NAND ASPs are also tracking worse than expected.

Hosseini maintained his positive rating on Micron shares, which are up 1.3% in premarket trading. The stock has gained 38% over the past 12 months, while the S&P 500 SPX, +0.22% has risen 17% and the PHLX Semiconductor Index SOX, +0.81% has shot up 24%.
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