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Top Analyst Reports for Texas Instruments, Regeneron & Micron Technology
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Wednesday, June 28, 2023
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Texas Instruments Inc. (TXN), Regeneron Pharmaceuticals, Inc. (REGN) and Micron Technology, Inc. (MU). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Shares of Texas Instruments have gained +18.7% over the past year against the Zacks Semiconductor - General industry’s gain of +95.7%. The company is benefiting from growing demand for embedded technologies across the automotive and industrial markets. Moreover, solid rebound in the automotive market remains a positive.
Further, strengthening demand environment in the industrial, communication equipment and enterprise systems markets is a tailwind. Notably, solid investments in new growth avenues and competitive advantages remain tailwinds. Further, its portfolio of long-lived products and efficient manufacturing strategies are other positives.
However, pandemic-led supply-chain disruptions and imposition of new export regulations are headwinds. Further, weakness in Analog segment of the company is a concern. Additonally, softness in the personal electronics end-market remains an overhang.
(You can read the full research report on Texas Instruments here >>>)
Regeneron’s shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the past year (+19.8% vs. -6.8%). The company maintains momentum on asthma drug Dupixent’s stellar performance, driven by continued strong demand in the approved indications.
Growth in Dupixent through additional label expansions and a promising late-stage pipeline set the momentum for further development. The approval of Libtayo for additional indications is likely to drive the drug’s sales and diversify the company’s portfolio. Regeneron has a deep pipeline and the development of additional drugs will be an incremental boost to the company.
However, lead drug Eylea sales are under pressure due to increasing competition. A decline in Eylea sales will hurt Regeneron's performance. The complete response letter for the application seeking approval of aflibercept 8 mg was a setback.
(You can read the full research report on Regeneron here >>>)
Shares of Micron Technology were in line with the Zacks Semiconductor Memory industry over the past year (+20.2% vs. +20.2%). The company is witnessing growing demand for memory chips from cloud-computing providers and acceleration in 5G (fifth-generation) cellular network adoptions.
Rising mix of high-value solutions, enhancement in customer engagement and improvement in cost structure are growth drivers as well. Additionally, 5G adoption in Internet of Things devices and wireless infrastructure is likely to spur demand for memory and storage.
However, Micron Technology near-term prospect looks gloomy as weakening consumer spending is negatively impacting demand for memory chips used in personal computers (PCs) and smartphones. Bit shipments for the DRAM and NAND memory chips may decline in the near-term as PC makers are adjusting their inventory due to weakened demand.
(You can read the full research report on Micron Technology here >>>)
Other noteworthy reports we are featuring today include FedEx Corp. (FDX), McKesson Corp. (MCK) and Arista Networks, Inc. (ANET)
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
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