Shares of Micron (MU) - Get Report were climbing over 2% during midday trading on Monday after Instinet reiterated its "Buy" rating on the chip maker.

Micron's stock is setup "noticeably different" from the last time it peaked in 2014, Instinet analyst Romit Shah wrote.

"Making the same mistake is never as funny the second time," he added, however, attested this time will be different.

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For example, investors have become obsessed with watching the spot prices for DRAM, a memory chip, a reversal of 2014 when most seemed to ignore prices, Shah argued.

Consequently, shares are less-demanding regarding valuation. Furthermore, Micron's margins are now supported by a better set of costs than in the past.