Micron (MU) Gets a Buy Rating from Mizuho Securities

In a report released today, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Micron (MU), with a price target of $63.00. The company’s shares closed last Wednesday at $51.04.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 20.6% and a 65.2% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Micron with a $65.10 average price target, representing a 27.4% upside. In a report issued on July 21, Needham also assigned a Buy rating to the stock with a $70.00 price target.

See today’s analyst top recommended stocks >>

Based on Micron’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $5.44 billion and net profit of $803 million. In comparison, last year the company earned revenue of $4.79 billion and had a net profit of $840 million.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MU in relation to earlier this year. Last month, April Arnzen, the SVP HR of MU sold 25,739 shares for a total of $1,288,752.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets. The Mobile Business Unit segment offers memory products sold into smartphone, and other mobile-device markets. The Storage Business Unit segment comprises of SSDs and component-level solutions sold into enterprise and cloud, client, and consumer solid-state drive (SSD) markets, other discrete storage products sold in component and wafer forms to the removable storage markets, and sales of 3D XPoint memory. The Embedded Business Unit segment consists of memory and storage products sold into automotive, industrial, and consumer markets. The company was founded by Ward D. Parkinson, Joseph L. Parkinson, Dennis Wilson, and Doug Pitman in October 1978 and is headquartered in Boise, ID.

Read More on MU:

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts