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<p class="has-drop-cap">In a significant move, Morgan Stanley has (NYSE: MS) <a aria-label="upgraded (opens in a new tab)" href="https://in.investing.com/news/company-news/article-93CH-4202537" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">upgraded</a> its rating for Micron Technology (NASDAQ: MU) stock from “Underweight” to “Equalweight” and substantially increased its price target from $98 to $130, an increase of over 32%.</p>
<p>This upgrade is in sync with the company’s current market dynamics, particularly the influence of high-bandwidth memory (<a href="https://tokenist.com/bofa-boosts-microns-pt-to-144-amid-ai-driven-hbm-demand-surge/" rel="noopener noreferrer nofollow" class="deco-link">HBM</a>) on buyer sentiment and pricing strength in the memory sector.</p>
<p>Analysts at Morgan Stanley predict that Micron could announce positive financial results this quarter, driven by the ongoing ramp-up phase of HBM supply. Furthermore, the firm expresses growing optimism about the <a aria-label="NAND flash memory market (opens in a new tab)" href="https://www.businesskorea.co.kr/news/articleView.html?idxno=217354" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">NAND flash memory market</a>, which could potentially drive Micron’s growth in the coming year due to tighter market conditions.</p>
<h3 id="micron-technology-stock-up-97-over-1-year">Micron Technology Stock Up 97% Over 1 Year</h3>
<p>As of the close on May 17, 2024, Micron Technology’s stock price stood at $125.29, with a market capitalization of $138.74 billion.</p>
<p>The stock has shown impressive returns over various periods, with a year-to-date return of 46.95%, a 1-year return of 97.75%, a 3-year return of 60.06%, and a 5-year return of 241.92%. However, the company currently has a negative profit margin of -20.57% and negative returns on assets (-3.77%) and equity (-8.27%) on a trailing twelve-month basis.</p>
<p>Micron Technology reported revenue of $18.31 billion and a net loss of $3.77 billion over the trailing twelve months. As of the most recent quarter, the company had a total cash of $9.01 billion and a total debt-to-equity ratio of 32.78%. Micron also offers a <a href="https://tokenist.com/investing/what-is-dividend-investing/" rel="noopener noreferrer nofollow" class="deco-link">dividend yield</a> of 0.37%, with an annual dividend of $0.46 per share.</p>
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<h3 id="micron-technology-has-consistently-beaten-expectations-in-recent-earnings">Micron Technology Has Consistently Beaten Expectations in Recent Earnings</h3>
<p>Micron Technology is expected to <a href="https://www.nasdaq.com/market-activity/stocks/mu/earnings" target="_blank" aria-label="announce (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">announce</a> its next earnings report on June 26, 2024. Analysts’ consensus EPS forecast for the upcoming quarter stands at $0.34, a significant improvement from the <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">reported EPS</a> of -$1.57 in the same quarter last year.</p>
<p>In the most recent fiscal quarter ending February 2024, Micron reported EPS of $0.27, surpassing the consensus forecast of -$0.42 by a surprising margin of 164.29%. Over the past four quarters, the company has consistently beaten EPS estimates, with surprise margins ranging from 1.75% to 164.29%.</p>
<p>For the fiscal year ending August 2024, analysts expect Micron to report EPS of $0.24. Looking further ahead to the fiscal year ending August 2025, the consensus EPS forecast is $6.39, indicating a strong recovery in the company’s earnings potential.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you think MU will continue its rally through the year as AI demand remains robust? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/ms-upgrades-micron-technology-stock-raises-pt-to-130/">MS Upgrades Micron Technology Stock, Raises PT to $130</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

MS Upgrades Micron Technology Stock, Raises PT to $130

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