Stock Update (NASDAQ:MU): Why Micron (MU) Stock Is Gaining Today

[at TheStreet] – Micron (MU) stock is increasing in mid-morning trading on Friday following Applied Materials’s (AMAT) financial results. Read more on this. Micron Technology, Inc. (MU) , currently valued at $11.03B, began trading this morning at $10.31. During the trading session, MU traded between $10.25 to $10.74 and has traded between $9.31 and $28.62 over the past 12 months. Priced at 71.93x this year’s forecasted earnings, MU shares are relatively expensive compared to the industry’s 10.91x forward p/e ratio. Consensus earnings for the current quarter by the 25 sell-side analysts covering the stock is an estimate of $-0.09 per share, which would be $0.54 better than the year-ago quarter and a $0.07 sequential increase. The full-year EPS estimate is $0.14 which would be a $2.55 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.96 Billion. If reported, that would be a 23.12% decrease over the year-ago quarter. In terms of ratings, Brean Capital Initiated MU at Buy (Apr 15, 2016). Previously, Raymond James upgraded MU from Outperform to Strong Buy. The average price target for MU shares by the analysts covering the stock is $13.48, which is 30.75% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Stock Update: Micron Technology Inc (NASDAQ:MU) – Bulls continue their stampede into Micron Market Update: Micron Technology Inc (NASDAQ:MU) – Here’s Why Micron Technology (MU) Stock is Advancing Today Stock Update: Micron Technology Inc (NASDAQ:MU) – Micron (MU) Stock Gains, Analysts Applaud Inotera Deal