Micron Technology trading relatively subdued despite affirmative earnings adjustment; analysts split

|About: Micron Technology Inc. (MU)|By:, SA News Editor

Despite revising Q1 expectations for revenue at $3.975B (+/- $50M) [$3.55B-$3.85B prior, consensus $3.71B] and EPS of $0.28 (+/- $0.02) [$0.13-$0.21 prior, consensus $0.19], Micron Technology (NASDAQ:MU) shares are just slightly higher (+1.16%) to $19.64 on the day and relatively unfazed (+0.15%) on the week-term.

While some analysts move targets higher on the development and other company-issued commentary (Instinet's Romit Shah from $23 to $25 and Susquehanna's Mehdi Hosseini from $21 to $23, restating respective Buy and Positive ratings), not all coverage is altered. Pacific Crest Securities remains Sector weight while Rajvindra Gill at Needham & Co. reissues an Underweight position on unfavorable risk/reward with peak multiples, high debt levels and a lacking cost-competitive stance in 3D NAND.