Micron (MU) Receives a Buy from Wells Fargo – Smarter Analyst

In a report released yesterday, Aaron Rakers from Wells Fargo maintained a Buy rating on Micron (MU). The company’s shares closed last Monday at $36.29.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 12.7% and a 58.4% success rate. Rakers covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Western Digital, and Seagate Tech.

Micron has an analyst consensus of Strong Buy, with a price target consensus of $70.30, representing a 102.8% upside. In a report issued on March 11, KeyBanc also maintained a Buy rating on the stock with a $63.00 price target.

See today’s analyst top recommended stocks >>

Based on Micron’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $5.14 billion and net profit of $491 million. In comparison, last year the company earned revenue of $5.84 billion and had a net profit of $1.62 billion.

Based on the recent corporate insider activity of 64 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. Most recently, in January 2020, Joel Poppen, the SVP, Legal Affairs, General of MU sold 20,000 shares for a total of $1,139,200.

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.

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).

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