Micron Technology (MU) Stock Gains Today Following Coverage Initiation

NEW YORK (TheStreet) -- Micron Technology (MU) shares are up 2.6% to $27.60 in trading on Friday after the semiconductor manufacturer had coverage initiated with a "buy" rating and $39 price target by analyst at Mizuho.

"While MU has been pulling in its 25/20nm DRAM shrink ahead of schedule, we believe the overall higher 20nm DRAM Capex intensity should still keep the focus on maintaining profitability in DRAM," analysts at the firm said.

Analysts at the firm are also fans of the company's new CFO Ernie Maddock who's tenure begins June 1. Maddock was formerly executive vice president and CFO of Riverbed Technology.  

Micron Technology is a global provider of semiconductor devices and markets direct random access memory devices.

The company's stock has risen 5.5% this week.

TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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