Rosenblatt Securities analyst Hans Mosesmann maintained a Buy rating on Micron (MU) today and set a price target of $60. The company’s shares closed on Friday at $32.66, close to its 52-week low of $28.39.
Mosesmann commented:
“We recently reduced our earnings estimates on the heels of Micron’s technology and strategy roadmap update, in which it was disclosed that the company has seen ~13% exposure to Huawei in recent quarters.”
According to TipRanks.com, Mosesmann is a 5-star analyst with an average return of 11.1% and a 56.7% success rate. Mosesmann covers the Consumer Goods sector, focusing on stocks such as Intel Corporation, Texas Instruments, and Lattice Semicon.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Micron with a $50.50 average price target, representing a 54.6% upside. In a report issued on June 3, KeyBanc also maintained a Buy rating on the stock with a $48 price target.
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The company has a one-year high of $61.83 and a one-year low of $28.39. Currently, Micron has an average volume of 25.91M.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. Most recently, in April 2019, Joel Poppen, the SVP, Legal Affairs, General of MU sold 20,210 shares for a total of $837,705.
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Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU).
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