Goldman Sachs Lowers Price Target On Micron Technology To $7.50.

According to Goldman Sachs, Micron Technology (NYSE: MU) will be reporting earnings on June 23 after the market close.

Goldman Sachs said that it believes that May-quarter results will be slightly above the Street due to better contract pricing in April on post-earthquake pull-in demand, lower excess capacity charges at Singapore, and somewhat better yields at Inotera. “We lower our 6-month price target to $7.50 from $8, based on 10X normalized EPS of $0.75 (from $0.80).”

Micron Technology closed yesterday at $7.83.