Micron Technology Inc. (NASDAQ: MU) Price Target moved up at Nomura

Micron Technology Inc. (NASDAQ: MU) had its price target raised by equities researchers at Nomura from $20.00 to $23.00. Nomura currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have issued reports on the stock in recent days, and the company has earned a consensus one-year price target of $18.19, above the opening price of $17.25, a difference of 10.30 percent. Micron Technology Inc. stock has a 52-week high of $19.30.

The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end

On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.

The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.

S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.

Yesterday Micron Technology Inc. (NASDAQ: MU) shares last traded at $17.66, which represents an increase of $0.74 over the previous closing price. Opening at $17.25, they ranged from $17.23 and $17.70 throughout the day.

Micron Technology Inc. (NASDAQ: MU) now has a market cap of 18.34B.

The stock’s average daily volume is 28,726,800 shares out of a total float 1,033,634,000 and some 31,394,849 shares crossed the trading desk yesterday, higher than the norm. Large expansions in trading volume and price growth together could mean heavy volume aggregation by institutional investors.

While higher trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks expresses a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these have substantial teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.

Traders are able to make make more useful decisions on trades when they track the trading habits of professional investors.

With that in mind, Micron Technology Inc. (NASDAQ: MU) now has a 50-day MA of $16.08 and 200-day MA of $12.78. It has traded in a 52-week range between $9.31 – 19.30 and today’s last price is 0.09% lower than the 52 week high of $19.30.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more for a 3 year period.

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