NEW YORK (TheStreet) -- Shares of Micron Technology were gaining 2.2% to $29.63 Tuesday after Susquehanna upgraded the memory chip maker to "positive" from "neutral." The analyst firm also raised its price target for Micron to $38 from $31, according to Barron's. Analyst Mehdi Hosseini wrote that recent checks suggest Micron recently gained NAND market share in China and the mid-to-low-end smartphone market, which is currently seeing more growth than the high-end phone market. "This should help MU to redirect some of its NAND bits (that have previously been shipped to the Taiwan channel) into the mobile segment and thus better manage the blended NAND margin profile," Hosseini wrote. "As such, we now expect NAND margins to rebound from the current single- digit level into the high teens in 2HCY15." Exclusive Report: Jim Cramer's Best Stocks for 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The analyst continued, "On the DRAM front and as noted in our industry report published this morning, we expect DRAM bit supply and demand to remain stable. With an increased mix of Server/DDR4 in 2H15, MU should be able to improve its DRAM margin profile from the current 55% to the high 50s (where they were in CY14)." TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: "We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results." Highlights from the analysis by TheStreet Ratings Team goes as follows: Powered by its strong earnings growth of 180.00% and other important driving factors, this stock has surged by 25.58% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, MU should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year. MICRON TECHNOLOGY INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, MICRON TECHNOLOGY INC increased its bottom line by earning $2.55 versus $1.00 in the prior year. This year, the market expects an improvement in earnings ($3.60 versus $2.55). The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 180.2% when compared to the same quarter one year prior, rising from $358.00 million to $1,003.00 million. Despite its growing revenue, the company underperformed as compared with the industry average of 14.8%. Since the same quarter one year prior, revenues rose by 13.1%. Growth in the company's revenue appears to have helped boost the earnings per share. The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, MICRON TECHNOLOGY INC's return on equity significantly exceeds that of both the industry average and the S&P 500. You can view the full analysis from the report here: MU Ratings Report STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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