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Stock Update (NASDAQ:MU): Micron Takes Client Data Storage to the Next Dimension with Fast, Secure, Power-Efficient 3D NAND Flash Solid State Drives

[GlobeNewswire] – New Micron 1100 and 2100 SSDs Deliver Next-Generation Performance to Redefine the Client Computing Experience. Micron introduces the 1100 SATA and 2100 PCIe NVMe SSDs, expanding its client-class portfolio … Read more on this. Micron Technology, Inc. (MU) , valued at $13.08B, opened at $12.65. During the trading session, MU traded between $12.26 to $12.68 and has traded between $9.31 and $28.53 over the past 12 months. MU shares are currently priced at 87.93x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.41x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 25 sell-side analysts are looking at $-0.09 per share, which would be $0.54 better than the year-ago quarter and a $0.06 sequential increase. What we find to be interesting is that the full-year EPS estimate of $0.14 is a $2.55 worse when compared to the previous year’s annual results. 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. More recently, Robert W. Baird upgraded MU from Neutral to Outperform (May 31, 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 6.56% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Stock Update (NASDAQ:MU): Micron Simplifies Path to Next-Generation All-Flash Data Center with Introduction of Micron Accelerated Solutions Market Update: Micron Technology Inc (NASDAQ:MU) – Micron CEO Mark Durcan to Provide Enterprise Storage Update in Online Webcast Company Update: Micron Technology Inc (NASDAQ:MU) – Why Micron May Have 5 Times More Upside Than Downside
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