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Upgrade Alert for Micron Technology (MU)

By Shiri Gupta

Micron Technology (NASDAQ:MU) was upgraded from Neutral to Positive at Susquehanna today. The stock closed yesterday at $14.05 on volume of 71.0 million shares, above average daily volume of 26.6 million.

Micron Technology, Inc., through its subsidiaries, manufactures and markets dynamic random access memory chips (DRAMs), very fast static random access memory chips (SRAMs), Flash Memory, other semiconductor components, and memory modules.

Micron Technology has overhead space with shares priced $14.05, or 33.4% below the average consensus analyst price target of $21.10. Micron Technology shares should encounter resistance at the 200-day moving average (MA) of $14.06 and support at the 50-day MA of $10.83.

In the past 52 weeks, shares of Micron Technology have traded between a low of $9.35 and a high of $20.57 and closed yesterday at $14.05, which is 50% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.4%.

SmarTrend recommended that subscribers consider buying shares of Micron Technology on May 24th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.33. Since that recommendation, shares of Micron Technology have risen 12.3%. We continue to monitor MU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Micron Technology

Ticker(s): MU