Micron Technology, Inc. (NASDAQ: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 gained 2.3% to $60.65 in today’s pre-market trading session.
These analysts made changes to their price targets on Micron following the release of results.
- Needham raised the price target on Micron from $67 to $71. Needham analyst Rajvindra Gill maintained a Buy rating.
- JP Morgan boosted the price target on Micron from $65 to $75. JP Morgan analyst Harlan Sur maintained an Overweight rating.
- Susquehanna raised the price target on the stock from $65 to $90. Susquehanna analyst Mehdi Hosseini maintained Micron with a Positive rating.
- Rosenblatt analyst Hans Mosesmann, meanwhile, reiterated Micron Technology with a Buy and maintained a $100 price target.
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