Share on StockTwits

Micron Technology (NASDAQ:MU) was the target of a significant drop in short interest in May. As of May 30th, there was short interest totalling 109,974,539 shares, a drop of 3.0% from the May 15th total of 113,327,602 shares, American Banking & Market News reports. Based on an average daily trading volume, of 20,625,948 shares, the days-to-cover ratio is currently 5.3 days. Currently, 10.3% of the shares of the stock are short sold.

A number of research firms have recently commented on MU. Analysts at Needham & Company LLC raised their price target on shares of Micron Technology from $34.00 to $40.00 in a research note on Friday, April 4th. Separately, analysts at Topeka Capital Markets raised their price target on shares of Micron Technology from $25.00 to $27.00 in a research note on Friday, April 4th. Finally, analysts at Wedbush raised their price target on shares of Micron Technology from $27.00 to $31.00 in a research note on Friday, April 4th. One investment analyst has rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of $29.13.

Shares of Micron Technology (NASDAQ:MU) opened at 31.91 on Tuesday. Micron Technology has a 52-week low of $12.31 and a 52-week high of $32.19. The stock’s 50-day moving average is $27. and its 200-day moving average is $24.49. The company has a market cap of $34.156 billion and a P/E ratio of 12.59.

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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.