Micron gets some Love (MU)

The Gollum of the Semiconductors, Micron Technology Inc. (NYSE:MU) received a blessing today from Sterne Agee.

The firm reiterated their "Buy" rating on Micron despite reducing its price target to $14 from $17.

Bottom feeders, this is your cue.

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Micron Technology Inc 's (MU) shares are only 4.25% from its 52-week low and today trading up 2% on the positive news at around $5.41.  

Sterne says the company's stock has been hit to very compelling valuations after pressure from weak DRAM demand. The semiconductor firm's operations and balance sheet are also better positioned than its peers.

MASTERY Bottom line: We poke fun at Micron but make no mistake, we've been waiting for a chance to buy.  As we told our readers earlier this month --Micron Investors: Be Patient

We were waiting for MU shares to bottom, it appears that has now occurred.

Its time to think about building a position.