2022.06.03
마이크론은 투자은행 파이퍼샌드러의 애널리스트 쿠마가 소비자 제품에 대한 매출 비중이 50%가
넘어서기때문에 비중축소 의견과 목표가 기존 90달러에서 70달러로 하향하면서 7.20% 폭락한 69.94달러로 마감.
Micron plunges as Piper Sandler downgrades, cites 'oversized exposure' to consumer | Seeking Alpha
Micron Technology (NASDAQ:MU) shares fell 8% on Friday as investment firm Piper Sandler downgraded the memory chip maker, citing its "oversized exposure" to consumer electronics.
Analyst Harsh Kumar lowered his rating on Micron (MU) shares to underweight from neutral and slashed his per-share price target to $70 from $90, noting the company's exposure to mobile, PCs and "other consumer end-markets" are subject to weaker trends, while the dynamic random access memory, or DRAM market, of which the company gets 70% of its revenue from, has started to see price declines.
NAND pricing, which Micron (MU) also has exposure to, has seen a deceleration in the past few months, Kumar added.
"While we do feel the company has done an outstanding job to reduce its cost structure and remain financially disciplined, we continue to view memory as largely a commodity market compared to the rest of our universe," Kumar wrote in a note to clients.
"As a result, we do feel Micron is likely to underperform, and we prefer differentiated companies with less consumer exposure."
Kumar pointed out that Micron's (MU) exposure of greater than 50% to consumer markets is higher than many other semiconductor companies, and with some weakness in the mobile and PC markets, it's likely there could be "additional pressure on the company."
Micron (MU) is also not as exposed to the automotive market, which Kumar said events like rising rates, a slowing macro and the possibility of excess inventory may be a concern.
Currently, the analyst is only confident in Micron's (MU) data center business, which comprises less than 30% of its revenue.
On Thursday, it was reported that Taiwan Semiconductor (TSM) was looking to enhance its exposure to memory chip makers, including Micron Technology (MU).
Analysts have been overly bullish on Micron's stock (MU). It had an average rating of Strong Buy from Wall Street analysts, and a slightly less enthusiastic BUY from Seeking Alpha authors. Conversely, Seeking Alpha's quant system, which consistently beats the market, rated Micron a STRONG BUY.
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MINNEAPOLIS--(BUSINESS WIRE)--May 16, 2022-- Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Shiva Kumar as managing director and head of mobility technology based in the San Francisco office. Shiva joins the team with over 20 years of investment banking, finance and corporate development & strategy experience in mobility and technology.
“Significant advancement in software and hardware is disrupting the mobility sector at a rapid pace, driving fundamental shift in the way we live, eat, shop, consume and travel. The innovators and disruptors in the mobility sector are facing ever complex financial and strategic challenges, and need creative, cross-industry solutions. With strong emphasis on teamwork & collaboration, Piper Sandler has developed a strong track record of putting client-first with superior financial & strategic advisory. I’m thrilled to join the firm and I look forward to partnering with those innovators and disruptors,” said Shiva Kumar.
Prior to joining Piper Sandler, Shiva was the CFO at Ridecell, where he led the company’s finance, corporate & business development, operational strategy and investor relations. He also worked at Jefferies, LLC where he was the senior vice president and co-led the mobility technology investment banking practice. Shiva earned a bachelor’s of technology in electrical engineering from Indian Institute of Technology, a masters in electrical engineering from the University of California Los Angeles and an MBA from Kellogg School of Management from Northwestern University and holds seven US patents.
“Piper Sandler has long embraced and partnered with disruptive technology companies. The pace of innovation taking place in the electric vehicle and mobility market is remarkable and dramatically changing the transportation market. We are keen to expand our strong presence in this market. Shiva has been a C-level executive as well as an advisor in a number of high-profile mobility technology transactions. We look forward to having Shiva lead our efforts in the mobility sector,” said Steven Schmidt, head of technology investment banking.
Piper Sandler’s technology investment banking team advises clients in application, infrastructure and vertical-market software, internet and digital media, communications, networking and security technologies, gaming, services, transportation technology and financial technology.
ABOUT PIPER SANDLER
Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.
©2022. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036
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