Micron Technology, Inc. (NASDAQ:MU) a Buy: Wedbush

In a research note issued to investors, Betsy Van Hees at Wedbush Reiterated their Buy rating on Micron Technology, Inc. (NASDAQ:MU). The analyst placed a $40 price target on the stock which indicates a 25.31% upside to the last closing price. In the year following Hees’s ratings, the stocks covered yield an average return of 21.70% according to TipRanks.com. In the past year 43 out of 68 recommendations or 63% were successful.

Micron Technology, Inc. (NASDAQ:MU) shares opened the most recent trading session at 31.74 and at the time of writing the last Bid was at 31.59. In the current trading session the stock reached as high as 31.7651 and dipped down to 31.27. Micron Technology, a NasdaqNM listed company, has a current market cap of 34.048B and on average over the past 3 months has seen 22610300 shares trade hands on a daily basis.

On a technical level the stock has a 50 Day Moving Average of 30.8385. Based on a recent trade, this puts the equity at +2.49% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -13.62% away from it’s 52-week high of 36.59 and +50.36% away from the stock’s low point over the past 52 weeks, which was 21.02. On a consensus basis, analysts have a one year target price of 42.50. The company last reported earnings per share of 3.078.

The consensus analyst estimates according to First Call for the next quarter is 0.88. The current year EPS estimate on the stock is 3.63 and the EPS estimate for next year sits at 4.23. In looking at the fundamentals, MU has a P/E ratio of 10.33 and a price to book ratio of 2.93. The company’s Book Value is 10.863 and most recently reported EBITDA of 6.065B. The price compared to next year’s EPS estimate in the current year is 7.52.

Company Profile

Micron Technology Inc. (MU) is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products. In addition, the Company manufactures semiconductor components for CMOS images sensors and other semiconductor products. The Company operates in four segments: NAND Solutions Group (NSG), DRAM Solutions Group (DSG), Wireless Solutions Group (WSG) and Embedded Solutions Group (ESG). The Company’s product include NAND Flash Memory, Dynamic Random Access Memory (DRAM) and NOR Flash Memory. The Company’s manufacturing facilities are located in the United States, China, Israel, Italy, Malaysia, Puerto Rico and Singapore. Effective August 11, 2014, Micron Technology Inc acquired an undisclosed minority stake in Kingston Solutions Co Ltd.