Micron Technology (MU) Rated Outperform as Wedbush Sees Multi-Year Growth Ahead

Micron Technology, Inc. (NASDAQ:MU) ranks among the best cheap semiconductor stocks to buy. While maintaining its Outperform Micron Technology, Inc. (NASDAQ:MU), Wedbush raised its price target for the company’s shares from $165 to $200 on September 18. Wedbush utilized a 10x multiple to determine the higher target by estimating the chipmaker’s earnings per share for the fiscal year 2027.

The firm stated that although this multiple is at the higher end of its range for the value of memory vendors during peak cycles, its gross margin projections for both DRAM and NAND memory products are still far lower than the cyclical high of 2018.

Wedbush also emphasized the potential benefits of High Bandwidth Memory (HBM) devices, indicating that beyond its current forecasts, there may still be more upside.

Micron Technology, Inc. (NASDAQ:MU) is a leading manufacturer of solid-state drives (SSDs), flash memory, and dynamic random-access memory (DRAM), among other memory and data storage products.

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Disclosure: None. This article is originally published at Insider Monkey.