Why Micron Stock Is Sinking Today
Micron Technology (NASDAQ: MU) stock is falling in Thursday's trading. The memory-chip company's share price was down 3.9% as of 3:15 p.m. ET, according to data from S&P Global Market Intelligence. Shares had been down as much as 7.2% earlier in the daily session.
Micron stock is falling in conjunction with the release of two price-target cuts from analysts. The company's share price is now down roughly 43% from the high that it reached earlier this year.
Raymond James published a mixed note on Micron before the market opened this morning. While the firm maintained an outperform rating on the stock, it lowered its one-year price target from $160 per share to $125 per share. The lead analyst on the stock cited recent comments from company management pointing to lower sales volume growth in its non-high-bandwidth-memory (HBM) DRAM (dynamic random access memory) and NAND markets as a reason for the target cut.
Source Fool.com
Micron Technology Inc. Stock
Currently there is a rather positive sentiment for Micron Technology Inc. with 100 Buy predictions and 6 Sell predictions.
With a target price of 110 € there is a positive potential of 33.61% for Micron Technology Inc. compared to the current price of 82.33 €.
