After Robert W. Baird and Deutsche Bank gave Micron (NASDAQ: MU) a Buy rating last month, the company received another Buy, this time from Nomura. Analyst Romit Shah maintained a Buy rating on Micron today and set a price target of $65. The company’s shares closed yesterday at $46.06.
According to TipRanks.com, Shah is a 5-star analyst with an average return of 15.1% and a 59.1% success rate. Shah covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Broadcom, and Nvidia.
Micron has an analyst consensus of Strong Buy, with a price target consensus of $71.20, which is a 54.6% upside from current levels. In a report issued on September 6, Deutsche Bank also maintained a Buy rating on the stock with a $80 price target.
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Micron’s market cap is currently $53.43B and has a P/E ratio of 4.63. The company has a Price to Book ratio of 1.87.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.
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Micron Technology, Inc. engages in the designs and building of semiconductor memory and storage technologies. It operates through the following segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit.
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