Micron Technology (MU) : Analyst Rating Update

Micron Technology (MU) : 13 brokerage houses believe that Micron Technology (MU) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Micron Technology (MU). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 2 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 23 Wall Street Analysts endorse the stock as a Buy with a rating of 2.02.

Micron Technology (MU) : The consensus price target for Micron Technology (MU) is $15.25 for the short term with a standard deviation of $2.74. The most optimist securities analyst among the 16 who monitor the stock believes that the stock can reach $19, however, the pessimist price target for the company is $10.

Micron Technology (NASDAQ:MU): The stock opened at $11.76 on Wednesday but the bulls could not build on the opening and the stock topped out at $11.85 for the day. The stock traded down to $11.50 during the day, due to lack of any buying support eventually closed down at $11.73 with a loss of -1.51% for the day. The stock had closed at $11.91 on the previous day. The total traded volume was 35,747,849 shares.

Also, In a research note released to the investors, Nomura upgrades its rating on Micron Technology (NASDAQ:MU).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Reduce by the brokerage firm. In a recent information released to the investors, Nomura raises the new price target from $8 per share to $18 per share. The rating by the firm was issued on June 23, 2016. The company shares have dropped -32.44% from its 1 Year high price. On Jul 29, 2015, the shares registered one year high at $28.62 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $12.22 and the 200 Day Moving Average price is recorded at $11.47.

Micron Technology, Inc. is a global provider of semiconductor devices. Through the Companys global operations, it manufactures and markets a full range of Dynamic Random Access Memory (DRAM), NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU), which includes DRAM and NOR Flash products; Mobile Business Unit (MBU), which includes DRAM, NAND Flash and NOR Flash products; Storage Business Unit (SBU), which includes NAND Flash components and Solid-State Drives (SSDs), cloud and removable storage markets. SBU also includes NAND Flash products, and Embedded Business Unit (EBU), which includes DRAM, NAND Flash and NOR Flash products.

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