Micron (MU) Conference Takeaways Complete Opposite of Consensus View, Jefferies Says

Micron Technology (NASDAQ: MU) is seeing rare gains early Thursday following positive comments from Jefferies analyst Sundeep Bajikar amid takeaways from the firm's Chicago Conference.

"Contrary to the consensus view, our discussions at our Chicago conference this week and our checks in Asia suggest Micron's 20nm DRAM yields (front end and back end) have advanced to the 70% range, from the 40% range earlier this year, and Micron is accelerating its 20nm migration," Bajikar commented.

He added, "We also believe aggressive supply-side actions are starting to have a stabilizing effect on DRAM prices, consistent with our thesis."

The firm reiterated a Buy rating and price target of $33, recommending clients load up at these levels.

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 $14.42 yesterday.

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