Billionaire Steven Cohen’s Top 5 Dividend Stock Picks

4. Micron Technology, Inc. (NASDAQ:MU)

Point72 Asset Management’s Stake Value: $191,743,457

Dividend Yield as of June 26: 0.053%

On June 25, Deutsche Bank raised its price recommendation on Micron Technology, Inc. (NASDAQ:MU) to $1,550 from $1,500. It reiterated a Buy rating on the shares. In a research note, the analyst said the company’s latest earnings report “cleared a high bar, both financially and strategically.” Deutsche described the quarter as “stunning,” pointing to favorable pricing dynamics that pushed revenue and gross margins to “extraordinary levels.” Following the results, the firm also raised its estimates for Micron.

The same day, DA Davidson increased its price goal on MU to $2,000 from $1,500. It kept a Buy rating on the stock after the company’s third-quarter earnings beat. The firm said Micron has entered a period where it offers some of the best visibility in the semiconductor industry, a sharp contrast to its historical position in the sector. The analyst added that another blowout quarter, along with positive forward-looking commentary, suggests the memory cycle is far from over.

Micron Technology, Inc. (NASDAQ:MU) develops memory and storage solutions. The company offers a portfolio of high-performance DRAM, NAND, and NOR memory and storage products under its Micron and Crucial brands.