Piper Jaffray Cos. raised their price target on shares of Micron Technology (NYSE:MU) from $18.00 to $31.00 in a research note issued on Wednesday, ARN reports. Piper Jaffray Cos.’s price target would indicate 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. The stock had a trading volume of 67,654,584 shares. Micron Technology has a 52 week low of $5.16 and a 52 week high of $18.85. The stock’s 50-day moving average is $15.97 and its 200-day moving average is $12.93. The company’s market cap is $18.848 billion. Micron Technology also saw some unusual options trading activity on Monday. Traders bought 96,183 call options on the company. This represents an increase of 110% compared to the average volume of 45,734 call options.
Other equities research analysts have also recently issued reports about the stock. 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 analyst has rated the stock with a sell rating, sixteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Micron Technology has an average rating of “Hold” and a consensus target price 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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