Fri. Aug 12th, 2022

Mehdi Hosseini, an Analyst, Susquehanna Financial Group, lowers his target price of Micron Technology Shares from $80 to $75 on Monday, writing that the average selling prices were tracked to be worse than it has been expected.

After having the meetings in Korea, Hosseini now comments that the blended DRAM products ASPs will see a fall by 15%—20% in the next year. However, he is anticipating that a lot of the recovery and correction would have been achieved in the early part of the year itself.

He is foreseeing the signs that NAND ASPs are as well tracking worse than what is expected to be. The analyst has tied his hope with the shares of Micron, which are during the premarket trading having seen a rise of 1.3%.

The stock value in a year has been raised by 38%, whereas the S&P 500 SPX has seen a growth of 17% and along with this a rise of 24% is found in the PHLX Semiconductor Index SOX.

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About Micron Technology:

Micron was started in Boise, Idaho, by Joe Parkinson, Ward Parkinson, Doug Pitman and Dennis Wilson in 1978 as a semiconductor design consulting firm.

The company got its startup funding from a local businessmen Allen Noble, Tom Nicholson, Ron Yanke and Rudolph Nelson, which was later followed by the funding from J. R. Simplot, a billionaire from Idaho. In 1981, the company makes a move from consultation business to manufacturing business with its first water fabrication unit that cans product 64K DRAM chips.

Then in 2005, Micron in association with Intel made a joint venture that is located in IM Flash Technologies, Lehi, Utah. The joint venture was a success and led to another joint venture named IM Flash Singapore. And by 2012, Micron owns the second joint venture.

The company has gone through every thick and thin, and hoping to rise and shine again.

By Ankit

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