Micron Likely To Report Wider Q1 Loss; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Micron Technology, Inc. MU is projected to release financial results for its first quarter, after the closing bell on Dec. 20, 2023.

Analysts expect the company to post a quarterly loss at 97 cents per share, compared to a year-ago loss of 4 cents per share. The company’s revenue might come in at $4.64 billion for the latest quarter, according to Benzinga Pro.

Micron recently raised its first quarter of FY24 outlook. The company previously guided first-quarter revenue of $4.4 billion (± $200 million). However, due to improved supply and demand balance and pricing, Micron now expects first-quarter revenue to reach $4.7 billion.

Micron shares gained 0.8% to close at $82.17 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Rosenblatt analyst Hans Mosesmann reiterated a Buy rating with a price target of $100 on Dec. 19, 2023. This analyst has an accuracy rate of 75%.
• BMO Capital analyst Ambrish Srivastava maintained an Outperform rating and increased the price target from $80 to $90 on Dec. 18, 2023. This analyst has an accuracy rate of 80%.
• Stifel analyst Brian Chin maintained a Hold rating and raised the price target from $72 to $76 on Dec. 15, 2023. This analyst has an accuracy rate of 77%.
• B of A Securities analyst Vivek Arya upgraded the stock from Neutral to Buy and increased the price target from $77 to $95 on Dec. 15, 2023. This analyst has an accuracy rate of 83%.
• UBS analyst Timothy Arcuri maintained a Buy rating and boosted the price target from $76 to $90 on Dec. 11, 2023. This analyst has an accuracy rate of 78%.

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