In a report released yesterday, Tristan Gerra from Robert W. Baird reiterated a Hold rating on Micron (MU – Research Report), with a price target of $60.00. The company’s shares closed last Thursday at $55.28, close to its 52-week low of $53.60.
According to TipRanks.com, Gerra is a 5-star analyst with an average return of 8.8% and a 49.6% success rate. Gerra covers the Technology sector, focusing on stocks such as Sequans Communications S A, Advanced Micro Devices, and Lattice Semiconductor.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Micron with a $86.47 average price target, a 57.2% upside from current levels. In a report issued on June 27, Citigroup also maintained a Hold rating on the stock with a $100.00 price target.
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Micron’s market cap is currently $62.56B and has a P/E ratio of 7.05.
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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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