Micron (MU) Gets a Buy Rating from Wells Fargo

In a report issued on March 29, Aaron Rakers from Wells Fargo reiterated a Buy rating on Micron (MUResearch Report), with a price target of $115.00. The company’s shares closed last Wednesday at $79.16.

According to TipRanks.com, Rakers is a top 100 analyst with an average return of 27.4% and a 72.7% success rate. Rakers covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Arista Networks, and Cisco Systems.

Currently, the analyst consensus on Micron is a Strong Buy with an average price target of $116.83, implying a 38.6% upside from current levels. In a report released yesterday, Credit Suisse also reiterated a Buy rating on the stock with a $130.00 price target.

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The company has a one-year high of $98.45 and a one-year low of $65.67. Currently, Micron has an average volume of 23.06M.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MU in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1978 and based in Idaho, Micron Technology, Inc. is a leader in providing innovative memory and storage solutions worldwide. It produces computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives. 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).

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