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Technology Stocks : Semi Equipment Analysis
SOXX 316.33+1.3%Dec 10 4:00 PM EST
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To: Donald Wennerstrom who wrote (77197)9/27/2017 2:04:24 PM
From: Donald Wennerstrom2 Recommendations

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Micron's stock soars to record high on heavy volume as analysts cheer results
10:26 AM ET 9/27/17 | MarketWatch

Shares of Micron Technology Inc. (MU) shot up 8.1% in very active trade to a record high early Wednesday, as a host of Wall Street analysts raised their price targets in the wake of better-than-expected fiscal fourth-quarter results (http://www.marketwatch.com/story/micron-reassures-investors-that-memory-chip-demand-remains-very-high-2017-09-26).

Volume ballooned to over 33 million shares less than an hour after the open, enough to make the stock the most actively traded on major U.S. exchanges, and already above the full-day average of 28.4 million shares.

Of the 32 analysts surveyed by FactSet, 17 boosted their price targets to lift the average target to $48.54, which is 31% above current levels, compared with a target of $43.28 at the end of August.

J.P. Morgan analyst Harlan Sur raised the target to $50 from $40, saying demand is expected to remain strong into next year on "robust" datacenter spending, a server upgrade cycle, the ramp of Apple Inc.'s (AAPL) next-generation iPhone, continued strong PC gaming and increasing content in automobiles.

The stock has soared 17% over the past three months, while the PHLX Semiconductor Index has climbed 9% and the S&P 500 has gained 3.5%.
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