Micron Technology, Inc. (NASDAQ: NASDAQ:MU) posted upbeat earnings for its fourth quarter, while sales missed estimates. The company also issued Q1 revenue guidance below estimates.
Micron reported fourth-quarter revenue of $6.64 billion, which missed average analyst estimates of $6.68 billion. The company's top-line results were down from $8.64 billion year-over-year.
Micron shares gained 0.5% to $50.26 on Friday.
These analysts made changes to their price targets on Micron following the release of quarterly results.
- Needham cut the price target on Micron from $64 to $60. Needham analyst Rajvindra Gill maintained the stock with a Buy.
- Mizuho lowered price target on Micron from $56 to $52. Mizuho analyst Vijay Rakesh maintained Micron with a Neutral.
- Stifel cut the price target on Micron from $56 to $54. Stifel analyst Brian Chin maintained a Hold rating on the stock.
- B of A Securities slashed price target on the stock from $62 to $58. B of A Securities analyst maintained Micron with a Neutral.
- BMO Capital cut price target on the stock from $80 to $70. BMO Capital analyst Ambrish Srivastava maintained Micron with an Outperform.
- Morgan Stanley (NYSE:MS) slashed price target on the stock from $56 to $49. Morgan Stanley analyst Joseph Moore maintained Micron with an Underweight.
- Deutsche Bank (ETR:DBKGn) slashed price target on the stock from $68 to $60. Deutsche Bank analyst Sidney Ho maintained Micron with a Buy.
- Piper Sandler slashed price target on the stock from $50 to $45. Piper Sandler analyst Harsh Kumar maintained Micron with an Underweight.
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