Company Update: Micron Technology Inc (NASDAQ:MU) – Why Micron Stock Soared 18% in May (MU)

[at Investopedia] – Despite Micron’s PC struggles, sentiments about its business have taken a drastic turn toward the positive. Read more on this. Micron Technology, Inc. (MU) , valued at $13.32B, started trading this morning at $12.89. Looking at today’s market, MU one day range is $12.83 to $13.04 with a trailing 52-week range being $9.31 to $26.63. Priced at 91.86x this year’s forecasted earnings, MU shares are relatively expensive compared to the industry’s 13.34x forward p/e ratio. Consensus earnings for the current quarter by the 24 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 $0.06 sequential increase. The full-year EPS estimate is $0.14, which would be a $2.55 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.96 Billion. If realized, that would be a 23.12% decrease over the year-ago quarter. 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 it is $13.75, which is 6.67% above where the stock opened. See more in (NASDAQ:MU) Similar Articles: Company Update: Micron Technology Inc (NASDAQ:MU) – Micron Technology to Host Analyst Conference Company Update: Micron Technology Inc (NASDAQ:MU) – At Bottom, Micron Technology Is Looking Up Market Update: Micron Technology Inc (NASDAQ:MU) – Here’s Why Micron Technology (MU) Stock is Advancing Today