Micron (MU) Receives a Rating Update from a Top Analyst

Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Micron (MUResearch Report) today and set a price target of $180. The company’s shares closed yesterday at $41.82.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 22.2% and a 64.0% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.

Currently, the analyst consensus on Micron is a Moderate Buy with an average price target of $46.29, implying a 10.7% upside from current levels. In a report issued on April 1, Cowen & Co. also reiterated a Buy rating on the stock with a $46 price target.

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The company has a one-year high of $64.66 and a one-year low of $28.39. Currently, Micron has an average volume of 31.83M.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Last month, April Arnzen, the SVP HR of MU sold 21,182 shares for a total of $834,147.

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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