Mizuho Securities Thinks Micron’s Stock is Going to Recover


In a report released yesterday, Vijay Rakesh from Mizuho Securities maintained a Buy rating on Micron (MU), with a price target of $44. The company’s shares closed on Friday at $33.25, close to its 52-week low of $28.39.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 19.6% and a 59.4% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Intel Corporation, and Texas Instruments.

Micron has an analyst consensus of Moderate Buy, with a price target consensus of $43.31, which is a 30.3% upside from current levels. In a report issued on June 12, Evercore ISI also reiterated a Buy rating on the stock with a $60 price target.

See today’s analyst top recommended stocks >>

Based on Micron’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $5.84 billion and net profit of $1.62 billion. In comparison, last year the company earned revenue of $7.8 billion and had a net profit of $3.82 billion.

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.

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).

Read More on MU:

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts