Micron (MU) Gets a Buy Rating from Wells Fargo

By Jason Carr

In a report released today, Aaron Rakers from Wells Fargo maintained a Buy rating on Micron (MUResearch Report). The company’s shares closed last Thursday at $50.48.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 19.6% and a 68.9% success rate. Rakers covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Advanced Micro Devices, and Western Digital.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Micron with a $63.86 average price target, implying a 26.5% upside from current levels. In a report issued on June 4, Deutsche Bank also maintained a Buy rating on the stock.

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Micron’s market cap is currently $56.68B and has a P/E ratio of 25.10. The company has a Price to Book ratio of 1.60.

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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). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets. The Mobile Business Unit segment offers memory products sold into smartphone, and other mobile-device markets. The Storage Business Unit segment comprises of SSDs and component-level solutions sold into enterprise and cloud, client, and consumer solid-state drive (SSD) markets, other discrete storage products sold in component and wafer forms to the removable storage markets, and sales of 3D XPoint memory. The Embedded Business Unit segment consists of memory and storage products sold into automotive, industrial, and consumer 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.