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In a report released today, Hans Mosesmann from Rosenblatt Securities maintained a Buy rating on Micron (MU), with a price target of $60. The company’s shares closed on Friday at $33.25, close to its 52-week low of $28.39.
Mosesmann said:
“We provide an update on memory trends in Asia from our recent visit to the region and ahead of Micron’s earnings tomorrow, June 25 th .”
According to TipRanks.com, Mosesmann is a 5-star analyst with an average return of 11.7% and a 56.5% success rate. Mosesmann covers the Consumer Goods sector, focusing on stocks such as Intel Corporation, Texas Instruments, and Lattice Semicon.
Currently, the analyst consensus on Micron is a Moderate Buy with an average price target of $43.13, which is a 29.7% 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.
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Micron’s market cap is currently $36.77B and has a P/E ratio of 3.05. The company has a Price to Book ratio of 1.06.
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).
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