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
€779.20
0.150%
The stock is one of the favorites of our community with 159 Buy predictions and 1 Sell predictions.
As a result the target price of 1297 € shows a very positive potential of 66.45% compared to the current price of 779.2 € for Micron Technology Inc..
