Micron Technology (MU) Receives ‘Analyst’ Rating

Micron Technology (MU) : The consensus on Micron Technology (MU) based on 16 analyst recommendation on the company stock is 2.09, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Micron Technology (MU).

Micron Technology (MU) : The highest level Micron Technology (MU) is projected to reach is $20 for the short term and the lowest estimate is at $8. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $16.92 and the possibility the share price can swing is $4.44.


Also, Equity Analysts at the Morgan Stanley maintains the rating on Micron Technology (NASDAQ:MU). The brokerage firm has issued a Overweight rating on the shares. The Analysts at the ratings agency raises the price target from $18 per share to $20 per share. The rating by the firm was issued on August 30, 2016.

Micron Technology (NASDAQ:MU): After opening at $16.9, the stock dipped to an intraday low of $16.8501 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $17.46 and the buying power remained strong till the end. The stock closed at $17.45 for the day, a gain of 3.07% for the day session. The total traded volume was 24,321,661. The stocks close on the previous trading day was $16.93.

Micron Technology, Inc. is a global provider of semiconductor devices. Through the Companys global operations, it manufactures and markets a full range of Dynamic Random Access Memory (DRAM), NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU), which includes DRAM and NOR Flash products; Mobile Business Unit (MBU), which includes DRAM, NAND Flash and NOR Flash products; Storage Business Unit (SBU), which includes NAND Flash components and Solid-State Drives (SSDs), cloud and removable storage markets. SBU also includes NAND Flash products, and Embedded Business Unit (EBU), which includes DRAM, NAND Flash and NOR Flash products.

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