received mixed signals today, as
Banc of America
upgraded the shares but
cut the chipmaker's 2001 earnings estimate.
Banc of America raised Micron to strong buy from buy and raised its 12-month price target to $50 from $40, while holding its 2001 earnings projection of $2.40 a share. ABN cut its estimate on Micron to $2 a share from $3.70, but maintained its buy rating and 12-month target of $70.
Shares of Micron gave back gains from earlier this morning and were recently down $1.75, or 4.3%, to $39.13 on the
New York Stock Exchange
Among other semiconductor majors, shares of
Advanced Micro Devices
were also lower, trading down 94 cents, or 4.5%, to $19.88 in Big Board action. Shares of
were being rewarded, recently trading up $1.81, or 4.1%, to $45.75 in