Micron Received its Third Buy in a Row
6/30/2017
markets.co
After Morgan Stanley and Robert W. Baird assigned a Buy rating to Micron in the last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Kevin Cassidy assigned a Buy rating to Micron (NASDAQ: MU) today and set a price target of $60. The company’s shares opened today at $32.12, close to its 52-week high of $32.96.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 23.3% and a 65.6% success rate. Cassidy covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Advanced Micro Devices, and Synaptics Inc.
Currently, the analyst consensus on Micron is Strong Buy and the average price target is $39.94, representing a 24.3% upside.
In a report issued on June 15, Loop Capital Markets also reiterated a Buy rating on the stock with a $40 price target.
Micron’s market cap is currently $34.81B and has a P/E ratio of 56.20. The company has a book value ratio of 2.4362.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. Last month, Brian Shirley, the VP Memory Tech. & Solutions of MU sold 50,581 shares for a total of $1,455,215. |
