Barclays analyst Thomas O'Malley maintains $Micron Technology (MU.US)$ with a buy rating, and maintains the target price at $145.
According to TipRanks data, the analyst has a success rate of 52.2% and a total average return of 9.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Micron Technology (MU.US)$'s main analysts recently are as follows:
Micron delivered a robust quarter and outlook, particularly considering the dampened recent expectations, with EPS guidance aligning with consensus prior to the negative revisions. The company has met its sales goal in HBM for FY24, persisting in its projection to achieve several billion in sales next year and aiming to secure a mid-20s percentage in DRAM market share for HBM. However, there are concerns that the market forecast may be overly optimistic. Despite Micron's strong execution, concerns about the stock's valuation persist, suggesting there might be more favorable risk-reward opportunities in other AI and memory segments.
Micron's recent financial outcomes surpassed expectations, an achievement accentuated by prevailing macroeconomic challenges, driven by robust demand from data centers. This includes the company's advancement in AI-powered high-bandwidth memory sales. Despite anticipating a milder fiscal second quarter due to seasonal factors, projections for fiscal years 2025 and 2026 earnings per share have been notably increased.
Micron anticipates that its HBM share will align with its total DRAM market share by C2025, a key point underpinning the investment thesis for the stock, given the belief that HBM is capable of producing gross margins in the low-60% range and represents a 60% compound annual growth rate. It's still considered one of the top picks, with the valuation appearing attractive, and the market not fully accounting for the HBM opportunity.
Note:
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