Micron Technology (MU) stock is expected to deviate a maximum of $3.26 from the average target price of $14.65 for the short term period. 17 Street Experts have initiated coverage on the stock with the most promising target being $19 and the most muted being $8.
Micron Technology (MU) has seen a rise of 2,836,812 shares or 4.5% in the short interest. The remaining shorts are 6.4% of the total floated shares. The net short interest, as on June 30,2016, stood at 66,530,437 shares and the stocks days to cover will be 2 by factoring in the average per day volume of 39,243,164 shares. On June 15,2016, 63,693,625 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Equity Analysts at the Brokerage Firm, Nomura, upgrades their rating on the shares of Micron Technology (NASDAQ:MU). Nomura has a Buy rating on the shares. Previously, the analysts had a Reduce rating on the shares. As per the latest research report, the brokerage house raises the price target to $18 per share from a prior target of $8. The rating by the firm was issued on June 23, 2016.
Micron Technology (NASDAQ:MU): The stock was completely flat for the day, closing at $13.29 on Thursday. The flat closing masks the intraday volatility in the stock. After opening at $13.50, the stock touched an intraday high of $13.55 and a low of $13.27. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $13.29. The total trading volume on Thursday was 18,698,912.
Micron Technology, Inc. is a global provider of semiconductor devices. Through the Companys global operations, it manufactures and markets a full range of Dynamic Random Access Memory (DRAM), NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU), which includes DRAM and NOR Flash products; Mobile Business Unit (MBU), which includes DRAM, NAND Flash and NOR Flash products; Storage Business Unit (SBU), which includes NAND Flash components and Solid-State Drives (SSDs), cloud and removable storage markets. SBU also includes NAND Flash products, and Embedded Business Unit (EBU), which includes DRAM, NAND Flash and NOR Flash products.