Micron Technology Inc. shares rose Monday after the Boise, Idaho-based memory chip maker raised its guidance for the fiscal third quarter. Micron shares advanced 3.2% to $55.11 in recent activity, after touching an intraday high of $56.47, on volume of 34.3 million shares in early trading. Average daily volume for the stock over the past 52 weeks is 39.7 million shares. In comparison, the PHLX Semiconductor Index was up 0.4% and the S&P 500 index was up 0.5%. Micron forecast third-quarter earnings of $3.12 to $3.16 a share on revenue of $7.7 billion to $7.8 billion, up from its previous forecast of $2.76 to $2.90 a share on revenue of $7.2 billion to $7.6 billion. Analysts surveyed by FactSet on average expect earnings of $2.86 a share on revenue of $7.49 billion. "Our third quarter results are driven by focused execution of our strategy against a backdrop of healthy industry fundamentals," said Sanjay Mehrotra, Micron president and chief executive, in a statement. Shares of Micron are up 34% for the year, while the SOX index is up 8% for 2018.