Micron Technology Inc (NASDAQ:MU) shares are trading higher after Baird analyst Tristan Gerra upgraded the stock from Neutral to Outperform and raised its price target from $115 to $150.
Citi analyst Christopher Danely remains bullish on the U.S. semiconductor sector. His top pick remains Micron Technology, Inc (NASDAQ:MU)
with other Buy-rated names, including Advanced Micro Devices, Inc (NASDAQ:AMD), Broadcom Inc (NASDAQ:AVGO), Analog Devices, Inc (NASDAQ:ADI), Microchip Technology Inc (NASDAQ:MCHP), and ON Semiconductor Corp (NASDAQ:ON).
Last Friday afternoon, the SIA announced March monthly sales of $50.8 billion (up 16.4% month-over-month), above the analyst's estimate of $50.1 billion (up 14.8% M/M) and seasonality of up 12.0% M/M driven by above-seasonal sales across all products, most notably from analog and microcontrollers, Danely noted.
He said analog and microcontroller units were up roughly 50% M/M, well above seasonality of up roughly 20% M/M.
This data, together with recent commentary from the analog companies, supports Danely's view of an analog inventory replenishment in the second half of 2024.
Danely maintained his 2024 semi sales forecast of up 11% Y/Y.
Analysts have previously forecasted Micron's upside from its high-bandwidth memory (HBM) market moat. They also projected upside from strong DRAM pricing and shipments of higher-priced, higher-margin and increasing AI exposure.
Micron stock gained 97% in the last 12 months. Investors can gain exposure to the stock via REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) and Invesco Semiconductors ETF (NYSE:PSI).
Price Action: MU shares traded higher by 4.75% at $120.15 on the last check Monday.
美光科技公司（纳斯达克股票代码：MU）股价走高，此前贝尔德分析师特里斯坦·杰拉将该股从中性上调至跑赢大盘，并将目标股价从115美元上调至150美元。
花旗分析师克里斯托弗·丹尼利仍然看好美国半导体行业。他的首选仍然是美光科技公司（纳斯达克股票代码：MU）
其他获得买入评级的公司包括先进微设备公司（纳斯达克股票代码：AMD）、博通公司（纳斯达克股票代码：AVGO）、ADI公司（纳斯达克股票代码：ADI）、微芯科技公司（纳斯达克股票代码：MCHP）和安森美半导体公司（纳斯达克股票代码：ON）。
丹尼利指出，上周五下午，SIA宣布3月份月销售额为508亿美元（同比增长16.4％），高于分析师估计的501亿美元（环比增长14.8％），季节性环比增长12.0％，这要归因于所有产品的高于季节性的销售，尤其是模拟和微控制器的销售。
他说，模拟和微控制器单元月率上涨了约50％，远高于季节性环比增长约20％。
这些数据以及模拟公司最近的评论支持了丹尼利对2024年下半年模拟库存补充的看法。
丹尼利维持了他在2024年半导体销售额同比增长11％的预测。
分析师此前曾预测美光将从其高带宽存储器（HBM）市场护城河中获得上行空间。他们还预计，强劲的DRAM定价以及价格更高、利润率更高的出货量以及人工智能曝光度的增加将带来上行空间。
美光股价在过去12个月中上涨了97％。投资者可以通过REX FANG & Innovation股票溢价收益ETF（纳斯达克股票代码：FEPI）和景顺半导体ETF（纽约证券交易所代码：PSI）获得股票敞口。
价格走势：周一的最后一次支票中，MU股价上涨4.75％，至120.15美元。
