Why Micron Technology Stock Rallied on Thursday
Shares of Micron Technology (NASDAQ: MU) popped on Thursday, jumping as much as 6.5%. As of 1:52 p.m. ET, the stock was still up 6.5%.
The catalyst that sent the memory and storage chipmaker higher was an announcement that bodes well for shareholders.
In a regulatory filing with the Securities and Exchange Commission (SEC), Micron's management updated the status of its stock repurchase program. The company initiated its buyback program in May 2018 through a variety of "open market purchases, block trades, privately negotiated transactions and/or derivative transactions." However, in December 2022, management suspended that program, citing the industrywide downturn.
Source Fool.com
Micron Technology Inc. Stock
Our community is currently high on Micron Technology Inc. with 97 Buy predictions and 5 Sell predictions.
As a result the target price of 126 € shows a positive potential of 28.6% compared to the current price of 97.98 € for Micron Technology Inc..