Micron Technology (MU): Accelerating Inotera Revenue Should Drive Upside - Mizuho

October 31, 2016 8:25 AM EDT
Get Alerts MU Hot Sheet
Price: $21.96 +1.15%

Rating Summary:
    32 Buy, 8 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Mizuho Securities analyst, Vijay Rakesh, reiterated his Outperform rating on shares of Micron Technology (NASDAQ: MU) noting that Inotera's recently reported SepQ revenue (up 21% q/q) and DecQ DRAM revenues accelerating to 20-25% q/q bode well for Micron.

The analyst believes that an accelerating MU topline (revenue up 30% in two quarters) should remain a tailwind into the FebQ. Also, the Micron / Inotera combination (expected 1H-Dec close) should position MU as the cheapest of all the memory OEMs against a positive DRAM industry outlook into 2017.

No change to the price target of $22.

For an analyst ratings summary and ratings history on Micron Technology click here. For more ratings news on Micron Technology click here.

Shares of Micron Technology closed at $17.20 yesterday.

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