Why MU Stock Is Popping Off Today

Micron Technology, Inc. MU shares are trading higher after the computer memory and data storage producer reported better-than-expected second-quarter EPS and sales results and issued third-quarter EPS and sales guidance above estimates.

Micron reported quarterly earnings of 98 cents per share, which beat the analyst consensus estimate of 95 cents by around 3%. Micron reported quarterly sales of $6.24 billion, which beat the analyst consensus estimate of $6.21 billion.

Following the earnings beat, Rosenblatt maintains Micron with a Buy and raises the price target from $150 to $165. Needham maintains a Buy and raises the price target from $115 to $130.

Micron is trading higher by around 5% in Thursday’s pre-market session at $92.50.