Micron (MU) Received its Third Buy in a Row


After KeyBanc and Merrill Lynch gave Micron (NASDAQ: MU) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Rajvindra Gill assigned a Buy rating to Micron today and set a price target of $63.00. The company’s shares closed last Friday at $44.94.

According to TipRanks.com, Gill is a 4-star analyst with an average return of 5.5% and a 52.3% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Micron has an analyst consensus of Moderate Buy, with a price target consensus of $62.53, which is a 38.5% upside from current levels. In a report issued on May 12, Longbow Research also maintained a Buy rating on the stock.

See today’s analyst top recommended stocks >>

Based on Micron’s latest earnings release for the quarter ending February 29, the company reported a quarterly revenue of $4.8 billion and net profit of $405 million. In comparison, last year the company earned revenue of $5.84 billion and had a net profit of $1.62 billion.

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