Micron Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Micron (NYS: MU) are starting off the new year with a bang, up as much as 11% on the heels of an analyst upgrade.
So what: Barclays bumped up its rating on the shares to overweight from equalweight, while also adding another dollar to its price target, from $8 to $9. The change is notable because it was accompanied by downgrades of other tech companies.
Now what: Among the companies downgraded were familiar names like Intel and Freescale Semiconductor. Stronger PC sales and higher DRAM memory pricing are expected to help Micron throughout the year. The semiconductor sector overall could be in for a couple of rocky months as companies adjust for inventory corrections, but the second half of the year looks promising.
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At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool owns shares of Intel. The Fool owns shares of and has bought calls on Intel.Motley Fool newsletter serviceshave recommended buying shares of Intel as well as creating a bull call spread position in Intel. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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