Company Update (NASDAQ:MU): Micron Technology, Inc. Names Trevor Schulze as Chief Information Officer

Micron Technology, Inc. (NASDAQ:MU), announced it has appointed Trevor Schulze as Chief Information Officer (CIO).

Schulze, who most recently served as Broadcom’s corporate vice president of IT, brings to Micron more than 25 years of IT, operations and product development experience.

“As we continue to develop innovative new products serving an expanded set of customers in diversified markets, our use of information is poised to grow significantly in importance and opportunity,” said Micron President Mark Adams. “We are excited for Trevor to lead our IT organization and support our global operations.”

Prior to Broadcom, Schulze worked as the corporate vice president of IT at Advanced Micro Devices, where he oversaw global engineering and infrastructure solutions. He also held various IT and engineering management roles at Cisco. (Original Source)

Shares of Micron Technology opened today at $17.63. MU has a 1-year high of $36.59 and a 1-year low of $17.49. The stock’s 50-day moving average is $24.49 and its 200-day moving average is $28.31.

On the ratings front, Micron has been the subject of a number of recent research reports. In a report issued on July 6, Nomura analyst Romit Shah reiterated a Hold rating on MU, with a price target of $23, which represents a potential upside of 30.5% from where the stock is currently trading. Separately, on July 2, Summit Research’s Srini Sundarajan reiterated a Buy rating on the stock and has a price target of $34.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Romit Shah and Srini Sundarajan have a total average return of 7.2% and -29.4% respectively. Shah has a success rate of 54.3% and is ranked #650 out of 3692 analysts, while Sundarajan has a success rate of 0.0% and is ranked #3431.

Overall, one research analyst has rated the stock with a Sell rating, 4 research analysts have assigned a Hold rating and 14 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $37.30 which is 111.6% above where the stock opened today.

Micron Technology Inc is a manufacturer and marketer of DRAM, NAND Flash memory, CMOS image sensors and other semiconductor components. It has two segments, Memory and Imaging.

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