Shares of Micron Technology, the world's second-biggest maker of computer memory chips, rose 11 percent today after the company said second-quarter sales rose 22 percent.

Micron also predicted a 10 percent to 15 percent increase in so-called bit shipments this quarter, and analysts said its inventory dropped to the lowest level in about four years.

Sales increased to $785 million in the quarter ended Feb. 27 from $645.9 million a year earlier, Micron said late Thursday, beating the $690.5 million estimate of analysts in a survey by Thomson First Call.

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