Company Update (NASDAQ:MU): Micron Plunges On Weak Q4 View, Layoffs; Trailing ‘Goliath’ Samsung

[at Investor’s Business Daily] – Micron Technology (MU) is “playing catch-up with Goliath” Samsung, Needham analyst Rajvindra Gill said Friday after the No. 1 DRAM (dynamic random-access memory) chipmaker late Thursday reported … Read more on this. Micron Technology, Inc. (MU) , valued at $12.87B, started trading this morning at $12.56. Looking at the equity, the company’s one day range is $12.31 to $12.90 with its 52-week range being $9.31 to $20.57. MU shares are currently priced at 98.29x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.63x earnings multiple for the same period. According to a consensus of 22 analysts, the earnings estimate of $0.04 per share would be $0.33 worse than the year-ago quarter and a $0.02 sequential increase. Investors should also note 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 $3.20 Billion. If reported, that would be a 11.11% decrease over the year-ago quarter. Recently, Nomura upgraded MU from Reduce to Buy (Jun 23, 2016). Previously, Susquehanna upgraded MU from Neutral to Positive. Investors should keep in mind is that the average price target is $15.07, which is 19.98% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Company Update: Micron Technology Inc (NASDAQ:MU) – Why Micron Stock Soared 18% in May (MU) Market Update: Micron Technology Inc (NASDAQ:MU) – Micron: Samsung Kills the Memory Biz, Says Bernstein, Just Wait till the Chinese Get There Market Update: Micron Technology Inc (NASDAQ:MU) – Jim Cramer — There’s No Case for Buying Micron