Semiconductor Stock Hit With Rare Double Downgrade
MUMicron Technology(MU) Schaeffers Investment Research·2024-09-12 21:08

Micron Technology Inc (NASDAQ:MU) stock is 3.5% lower before the open, after a double downgrade at Exane BNP Paribas. The analyst downgraded the chip stock to "underperform" from "outperform" and slashed its price objective from 140downto140 down to 67. Meanwhile, Raymond James issued a more modest price-target cut to 125from125 from 160. Both bear notes follow MU's summer slump, as it has underperformed its semiconductor sector peers since touching a June 18, all-time high of $157.53. The security began to fall after ...