Micron Technology, Inc. (NASDAQ:MU) today named Derek Dicker, vice president and general manager of the Storage Business Unit. Dicker will report directly to Sumit Sadana, Micron’s executive vice president and chief business officer.
In this role, Dicker will be responsible for leading and expanding Micron’s solid-state storage business. This includes building world-class storage solutions to address the growing opportunity in large market segments like cloud, enterprise and client computing.
“Derek’s deep technical expertise and experience in the storage industry make him the ideal choice to lead our storage business,” Sadana said. “His strategic mindset, coupled with his outstanding track record of business leadership, will help us fully capitalize on our leading-edge NAND technologies and solutions.”
Dicker has 20 years of experience in the semiconductor industry, including sales, marketing and executive roles at Intel, IDT, PMC-Sierra and Microsemi Corporation. Most recently, he served as vice president and business unit manager of performance storage at Microsemi. He was responsible for PCIe storage switches, NVMe SSD controllers, and NV-RAM drives. Dicker previously was VP Performance Solutions Group, at PMC-Sierra before Microsemi’s 2015 acquisition of the company. At PMC, he led a team that introduced the first and fastest merchant enterprise NVMe PCIe SSD controller and NV-RAM drive portfolio, and introduced a new category of PCIe storage switches, including the first NVMe JBOD-optimized switch solutions. Before launching the performance storage business unit, Dicker headed marketing for PMC’s enterprise storage division, where he and his team defined, launched, and ramped the company’s 12G SAS product portfolio, featuring industry-leading port count and performance SAS/SATA RoCs/IoCs and expanders. He previously was with Intel in sales and marketing positions, including being chief of staff/technical assistant to the executive vice president and general manager of the Intel Communications Group. Dicker earned a BS in Computer Science and Engineering from UCLA, and later attended INSEAD’s Young Manager Programme and the Stanford Executive Program.
Shares of Micron closed yesterday at $43.74, down $4.19 or -8.74%. MU has a 1-year high of $49.89 and a 1-year low of $18.18. The stock’s 50-day moving average is $43.92 and its 200-day moving average is $34.87.
On the ratings front, Micron stock has been the subject of a number of recent research reports. In a report issued on November 28, Baird analyst Tristan Gerra maintained a Buy rating on MU, with a price target of $60, which represents a potential upside of 37% from where the stock is currently trading. Separately, on the same day, Standpoint Research’s Ronni Moas downgraded the stock to Hold .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Tristan Gerra and Ronni Moas have a yearly average return of 19.7% and 5.7% respectively. Gerra has a success rate of 71% and is ranked #153 out of 4735 analysts, while Moas has a success rate of 70% and is ranked #255.
Overall, 3 research analysts have assigned a Hold rating and 22 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 $52.55 which is 20.1% above where the stock closed yesterday.