Bank of America analysts just upgraded the shares of this tech company to ‘Buy’. The company beat analysts’ estimates by four cents last quarter.
Buy: Micron Technology (MU)
From The Wealth Advisory
Micron Technology (MU) offers semiconductor solutions for pretty much every computing resource imaginable. The stock has a Wealth Advisory Earnings Grade of A+. When we first invested in Micron, I called it the best tech value play around. And it remains just that. We should see another strong year of reports in 2017 starting next month when management releases first-quarter numbers.
Demand is about to overtake supply in Micron’s major markets. And that will drive up both the prices it can charge and the earnings it brings in. Plus, MU is taking the lead in yet another segment of the digital memory market with a new breed of solid-state drives. That’s going to give revenues and income another jolt this year.
I don’t see a dividend coming soon. That’s because any spare cash is going into R&D to develop new products. But MU remains a buy for obvious reasons. I’m keeping the limit price at $25. Make sure you wait for dips to add to your position or start a new one. The 12-month target is $35.
Briton Ryle, The Wealth Advisory, www.angelpub.com, 877-303- 4529, February 2017