Roth Capital analyst Krishna Shankar reiterated a Buy rating on Micron Technology (NASDAQ:MU) with a price target of $40, following the company’s 1Q15 revenue/GAAP EPS results of $4.57 billion/$0.84 versus Roth’s $4.59 billion/$0.74 estimate. However, management gave seasonally weak guidance for revenues.

Shankar noted, “We continue to be positive longer-term on 2015/2016 DRAM and NAND flash pricing and demand due to industry consolidation and muted capacity additions. We view Micron’s focus on higher-margin PC/server, networking, smartphone/tablet DRAM and NAND flash as a positive.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 5.6% and a 54.5% success rate. Shankar has a 78.4% average return when recommending MU, and is ranked #849 out of 3434 analysts.