Entering text into the input field will update the search result below

Micron jumps after Bernstein ups target, reports of slowing Samsung DRAM growth

May 18, 2016 10:47 AM ETMicron Technology, Inc. (MU) StockMU, SSNLF, SSNNFBy: Eric Jhonsa, SA News Editor16 Comments
  • Bernstein (Hold rating) has hiked its Micron (MU +5.9%) target by $1 to $11, and reports top rival Samsung's (OTC:SSNLF) DRAM supply growth is slowing. The firm forecasts the major DRAM oversupply situation that formed last year will turn into supply tightness by 2H17.
  • Bernstein's note follows April Samsung earnings call remarks suggesting the company will pare back its DRAM capacity growth. Likewise, SK Hynix forecast in April industry DRAM capex would drop in 2H16, and that the company would see DRAM shipments rise by a mid-teens % Q/Q in Q2.
  • Today's remarks are more positive than the ones Bernstein made last month, when it argued weak demand and Samsung's efforts to gain share would continue weighing on sales, and that the potential entry of Chinese firms into the memory market could act as a further headwind.
  • TrendForce recently estimated DRAM industry revenue fell 16.6% Q/Q in seasonally weak Q1 to $8.56B. Samsung was assigned a 46.4% share, SK Hynix a 27.1% share, and Micron an 18.5% share.

Recommended For You

About MU Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
MU--
Micron Technology, Inc.