08-07-2014, 03:29 AM
Shares of Micron Technology (MU) are down 16 cents, or half a percent, at $30.93, following an analyst day held by the company in Hong Kong yesterday. Stifel Nicolaus’s Kevin Cassidy, reiterating a Buy rating, and a $39 price target, writes that the meeting reiterated management’s contention “the memory market has changed” and that Micron is focused on investment returns. Richard Wittington of Drexel Hamilton, who also has a Buy on the shares, writes simply that “The message is they’re sold out, ASPs on the rise, as demand remains vibrant.”