Today's Research Reports on Stocks to Watch: Micron Technology and Inseego
NEW YORK, NY / ACCESSWIRE / September 7, 2018 / Micron Technology was in the red on Thursday as analysts had bearish remarks about the company, including a Baird analyst who also lowered his price target. Shares of Inseego Corp. were rising on a Canaccord analyst upgrade and price target increase yesterday.
RDI Initiates Coverage on:
Micron Technology, Inc.
Micron Technology, Inc. shares were down almost 10% at the close on Thursday with roughly 94 million shares traded. Average trading volume for the stock is just under 37 million shares. It was a hard day for the tech stock after the company's CFO Dave Zinser and IR chief Farhan Ahmad presented on Thursday morning at the Citi Global Technology Conference with some concerning remarks. It also didn't help that Morgan Stanley and Baird analysts gave cautious remarks on the firm. Baird analyst Tristan Gerra wrote that DRAM pricing will likely peak in Q3, and oversupply in the NAND market has worsened in recent months. The analyst has an "overweight" rating on the stock. Gerra also said, "The expectation of lower memory pricing usually induces the supply chain to deplete inventories, which can exacerbate excess supply versus demand." The analyst cut his price target from $100 to $75. The company is expected to report fourth quarter results on September 20th.
Access RDI's Micron Technology, Inc. Research Report at:
Inseego Corp. shares were up 12.20% at the close on Thursday and saw even more gains of nearly 6.5% in extended after-hours trading. The stock hit a new high of $4.02 on colossal trading volume of around 6.5 million shares traded yesterday. Canaccord analyst T. Michael Walkley upped his rating on the stock this week from "hold" to "buy" and upped his price target as well from $2.25 to $4.50. Walkley remarked, "We anticipate gross margin should improve as new hardware products replace legacy 4G MiFi products in the mix and 5G products ramp longer-term." According to the analyst, Inseego will up its investments in wireless, mobile, 5G, 5G routers, and home gateways. Walkley said, "With over 1 million global SaaS subscriptions under contract, we believe the enterprise SaaS business has a scaled platform to deliver strong margins and double-digit revenue growth. We believe the aviation vertical is helping drive SaaS growth, as Inseego has aviation wins with two of the top five and three of the top 10 global airlines." Inseego will be showcasing at Mobile World Congress Americas and a 5G product preview will take place at the #Making5GReal media event on Thursday, Sept. 13 at 6:00 p.m. VP of IoT & Mobile Solutions at the company, Ashish Sharma, remarked, "Inseego has a rich history as a pioneer in commercializing every generation of mobile devices - having brought 2G, 3G, 4G and now 5G to life - and we look forward to expanding that legacy as we demonstrate how we're #Making5GReal at Mobile World Congress Americas. We're here to cut through the noise and showcase 5G with our team currently working alongside top tier global service providers and major ecosystem players. In addition, we're showcasing how 5G and our IoT device-to-cloud intelligent management solutions combine to truly change the way enterprises operate and manage critical assets."
Access RDI's Inseego Corp. Research Report at:
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