“Micron (MU) Will Put Up Plants,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About.  Micron Technology, Inc. (NASDAQ:MU) is one of the stocks on Jim Cramer talked about.

Micron Technology, Inc. (NASDAQ:MU) is one of the top-performing stocks in the semiconductor sector. Its shares are up by a whopping 247% over the past year. Micron Technology, Inc. (NASDAQ:MU)’s importance in the chip industry, underscored by the fact that it is one of the few firms capable of providing NVIDIA with the latest memory chips for its GPUs, means that analysts frequently discuss the firm. For instance, in December, Piper Sandler raised Micron Technology, Inc. (NASDAQ:MU)’s share price target to $275 from $200 and kept a Buy rating on the shares. The upgrade followed the firm’s fiscal first quarter earnings, which saw its revenue and EPS beat analyst estimates. More recently, UBS raised Micron Technology, Inc. (NASDAQ:MU)’s share price target to $400 from $300 and kept a Buy rating on the shares. UBS explained that the bullishness stemmed from the fact that AI enthusiasm had made DRAM an essential commodity. Cramer added that Micron Technology, Inc. (NASDAQ:MU) might have to expand production:

“Micron will put up plants, Micron’s bullish, bullish.”

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