Semiconductor Stock Hit With Rare Double Downgrade

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 $140 down to $67. Meanwhile, Raymond James issued a more modest price-target cut to $125 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 ...