Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Micron
So what: Barclays bumped up its rating on the shares to overweight from equalweight, while also adding another dollar to its price target, from $8 to $9. The change is notable because it was accompanied by downgrades of other tech companies.
Now what: Among the companies downgraded were familiar names like Intel and Freescale Semiconductor. Stronger PC sales and higher DRAM memory pricing are expected to help Micron throughout the year. The semiconductor sector overall could be in for a couple of rocky months as companies adjust for inventory corrections, but the second half of the year looks promising.
Interested in more info on Micron? Add it to your watchlist by clicking here.
Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Intel. The Fool owns shares of and has bought calls on Intel. Motley Fool newsletter services have recommended buying shares of Intel as well as creating a bull call spread position in Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.