Micron Technology Price Target Increased to $20.50 by Analysts at Bank of America Corp. (MU)
Equities research analysts at Bank of America Corp. boosted their price target on shares of Micron Technology (NYSE:MU) from $18.00 to $20.50 in a research note issued to investors on Thursday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 12.95% from the stock’s previous close.
In other Micron Technology news, VP Scott J. Deboer sold 26,750 shares of the stock on the open market in a transaction dated Monday, October 7th. The shares were sold at an average price of $18.60, for a total transaction of $497,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Piper Jaffray Cos. raised their price target on shares of Micron Technology from $18.00 to $31.00 in a research note to investors on Wednesday. Separately, 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. Finally, analysts at TheStreet upgraded shares of Micron Technology to a “buy” rating in a research note to investors on Friday, October 4th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Hold” and a consensus price target of $17.36.
Micron Technology (NYSE:MU) opened at 18.15 on Thursday. Micron Technology has a 1-year low of $5.16 and a 1-year high of $18.85. The stock’s 50-day moving average is $16.10 and its 200-day moving average is $12.97. The company’s market cap is $18.848 billion. Micron Technology also saw unusually large options trading on Monday. Stock investors purchased 96,183 call options on the company. This represents an increase of 110% compared to the average volume of 45,734 call options.
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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