Micron Technology, Inc. mu reported weaker than expected Q2 results.
Micron reported second-quarter revenue of $3.69 billion, down from $7.79 billion year-over-year and below consensus estimates of $3.72 billion. The company reported a quarterly loss of $1.91 per share, which missed estimates for a loss of 81 cents per share.
Micron shares are up 2.3% to $60.65 in today’s premarket session.
These analysts changed their price targets for Micron after the results were released.
- Needham raised the price target for Micron from $67 to $71. Needham analyst Rajvindra Gill maintained his buy rating.
- JP Morgan raised Micron’s price target to $75 from $65. JP Morgan analyst Harlan Sur maintained his overweight position.
- Susquehanna raised the price target on the stock to $90 from $65. Susquehanna analyst Mehdi Hosseini retained Micron with a positive rating.
- rose petal Analyst Hans Mosesmann, meanwhile, reiterated a buy on Micron Technology and kept a price target of $100.
Continue reading: Investor fears ease; US stocks fall
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