Brean Capital Believes MU Won’t Stop Here

By Ryan Adsit

Brean Capital analyst Mike Burton reiterated a Buy rating on Micron (NASDAQ: MU) today. The company’s shares opened today at $22.35, close to its 52-week high of $23.64.

According to TipRanks.com, Burton is a 5-star analyst with an average return of 12.3% and a 63.1% success rate. Burton covers the Technology sector, focusing on stocks such as Integrated Device Tech, Himax Technologies, and Skyworks Solutions.

Currently, the analyst consensus on Micron is Strong Buy and the average price target is $25.94, representing a 16.1% upside.

In a report issued on December 16, Susquehanna also reiterated a Buy rating on the stock with a $24 price target.

Based on Micron’s latest earnings report for the quarter ending November 30, the company posted quarterly revenue of $3.97 billion and quarterly net profit of $180 million. In comparison, last year the company earned revenue of $3.35 billion and had a net profit of $206 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. Last month, Dermot Mark Durcan, the CEO of MU sold 1,803 shares for a total of $23,944.

Micron Technology, Inc. provides semiconductor solutions. It manufactures and distributes semiconductor solutions. It manufactures and markets DRAM, NAND Flash 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. The company operates through four segments: Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes DRAM and NOR Flash products sold to the computing, networking, graphics and cloud server markets. The MBU segment includes DRAM, NAND Flash and NOR Flash products sold to the smartphone, feature phone and tablet mobile device market. The SBU segment includes NAND Flash components and SSDs sold into enterprise and client storage, cloud and removable storage markets. SBU also includes NAND Flash products sold to Intel through its IMFT joint venture. The EBU includes DRAM, NAND Flash and NOR Flash products sold into automotive and industrial applications, as well as the connected home and consumer electronics markets. The company was founded by Ward D. Parkinson, Joseph L. Parkinson, Dennis Wilson, and Doug Pitman in October 1978 and is headquartered in Boise, ID.