Why Micron Technology (MU) Stock Hit a One-Year High TodayNEW YORK (TheStreet) -- Shares of Micron Technology (MU_) rose to a 52-week high of $34.85 on Monday after analysts were bullish on the stock following the semiconductor company's fourth-quarter earnings report late last week.Micron expects sales growth of its dynamic random-access memory (DRAM) chips to increase in the low single digits, far greater than analysts' expectations of a 5% to 10% decline. The forecast led to bullish reports from multiple analysts.
Deutsche Bank reiterated its "buy" rating and $40 price target and noted "limited industry supply growth is driving less price volatility." Profit margins in the segment rose slightly in the quarter and Deutsche expects they could widen further in the future.
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