On Wednesday, Shares of Micron Technology, Inc. (NASDAQ:MU), lost -3.25% to $16.96.
Sterne Agee initiated coverage of Micron Technology with a “buy” rating and a $23 price target on Wednesday.
The analyst firm said it believes the fundamental headwinds from slow PC sales, lack of cost leadership, and near-term margin pressure are already priced into Micron’s stock. Sterne Agee believe investors will increasingly value Micron’s “ability to close the technology gap with peers” in the next three to six months, which could offer support to shares.
“We believe Micron has struggled to keep pace with peers in DRAM and NAND cost per bit metrics, as a result they have practiced margin compression from nominal oversupply conditions,” Sterne Agee analysts wrote. “The most simple of supply demand balance equations are complicated in the memory market as technology advances require large amounts of capital and scale to remain competitive.
“While moving Micron from weakest positioned to leadership is likely to take several technology transitions and prudent investment of capital resources, the process does appear to have begun with large capital investment in 2016, to advance DRAM node, introduce 3D NAND, and launch X-point products,” the analysts continued.
Micron Technology, Inc., together with its auxiliaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems.
Shares of Mobileye N.V. (NYSE:MBLY), declined -8.08% to $48.36, during its last trading session, after short seller Citron Research called into question the company’s $12 billion market value.
Analysts at Citron set a short-term price target of $25 on the Israel-based maker of camera based drivers assistance systems.
The price target represents a potential 49% decline from the stock’s current price.
Mobileye N.V., together with its auxiliaries, designs and develops software and related technologies for camera-based advanced driver assistance systems primarily in Israel. It operates through two segments, Original Equipment Manufacturing and After Market.
Finally, Banco Santander, S.A. (NYSE:SAN), ended its last trade with -0.34% loss, and closed at $5.79.
Santander Bank, N.A. declared the launch of its second annual “Santander Field Aim Challenge,” a sweepstakes offering lucky Eagles fans the chance to win a once-in-a-lifetime experience and prizes. The program was developed in partnership with the Eagles as part of the Bank’s team sponsorship.
Now through October 21, 2015, Eagles fans can enter to win an opportunity to attempt a field aim from the 20-yard line during halftime at the November 22nd home game against Tampa Bay. A successful conversion will net a $10,000 prize. An additional $10,000 will be donated to the regional K-12 school of the winner’s choice, courtesy of Santander, the Official Bank of the Philadelphia Eagles.
Banco Santander, S.A. provides various banking products and services for individuals and companies. The company offers various deposit products, such as demand and time deposits; mortgages, auto finance, and personal credits; consumer finance; and mobile banking and electronic banking services.
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