Micron Technology (MU) stock surged 5.07% in pre-market trading on Monday, following a significant price target upgrade from Rosenblatt Securities. The semiconductor company's shares received a boost after analysts at Rosenblatt raised their price target on Micron from $250 to $300, maintaining a Buy rating on the stock.

The upgraded price target represents a vote of confidence in Micron's future prospects and suggests potential upside for the company's shares. This positive analyst action comes amid a broader trend of optimism surrounding tech stocks, particularly those in the semiconductor sector, which have been benefiting from the artificial intelligence (AI) boom and increased demand for memory chips.

Micron, a key player in the memory and storage solutions market, has been positioning itself to capitalize on the growing demand for high-performance memory products used in AI applications and data centers. The company's stock has shown impressive performance this year, with a year-to-date gain of 182% prior to today's movement, reflecting investor enthusiasm for its growth potential in the evolving tech landscape.