Micron Technology Price Target Increased to $31.00 by Analysts at Piper Jaffray Cos. (MU)
Analysts at Piper Jaffray Cos. increased their price objective on shares of Micron Technology (NYSE:MU) from $18.00 to $31.00 in a research report issued to clients and investors on Wednesday, American Banking News reports. Piper Jaffray Cos.’s target price points to a potential upside of 70.80% from the company’s current price.
Shares of Micron Technology (NYSE:MU) traded up 1.26% on Wednesday, hitting $18.15. 67,679,360 shares of the company’s stock traded hands. Micron Technology has a 52 week low of $5.16 and a 52 week high of $18.85. The stock has a 50-day moving average of $15.97 and a 200-day moving average of $12.93. The company’s market cap is $18.848 billion. Micron Technology also was the recipient of unusually large options trading activity on Monday. Traders acquired 96,183 call options on the company. This represents an increase of 110% compared to the average volume of 45,734 call options.
MU has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. raised their price target on shares of Micron Technology from $19.00 to $30.00 in a research note to investors on Monday. Separately, analysts at TheStreet upgraded shares of Micron Technology to a “buy” rating in a research note to investors on Friday, October 4th. Finally, analysts at Credit Suisse raised their price target on shares of Micron Technology from $20.00 to $25.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Hold” and a consensus price target of $17.26.
Micron Technology, Inc, is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
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