Short Term Price Target on Micron Technology (MU)

Micron Technology (NASDAQ:MU) : The consensus price target for Micron Technology (NASDAQ:MU) is $15.25 for the short term with a standard deviation of $2.74. The most optimist securities analyst among the 16 who monitor the stock believes that the stock can reach $19, however, the pessimist price target for the company is $10.

Micron Technology, Inc. has dropped 2.06% in the last five trading days, however, the shares have posted positive gains of 5.12% in the last 4 weeks. Micron Technology, Inc. is up 24.75% in the last 3-month period. Year-to-Date the stock performance stands at -2.82%. Also, Equity Analysts at the Nomura upgrades the rating on Micron Technology (NASDAQ:MU). The brokerage firm has issued a Buy rating on the shares. The shares were previously rated Reduce. The Analysts at the ratings agency raises the price target from $8 per share to $18 per share. The rating by the firm was issued on June 23, 2016.

Micron Technology (NASDAQ:MU) : Zacks Investment Research ranks Micron Technology (NASDAQ:MU) as 3, which is a Hold recommendation. 14 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 6 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 23 research analysts is 1.85, which indicates as a Buy.

Micron Technology (NASDAQ:MU): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.34 and $13.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.78. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.76, notching a gain of 4.32% for the day. The total traded volume was 48,486,133 . The stock had closed at $13.19 on the previous day.

In an insider trading activity, Maddock Ernest E, CFO of Micron Technology Inc, had purchased 10,000 shares on January 21, 2016. The total value of the transaction was $106,900. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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.

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