Company Update (NASDAQ:MU): Micron Launches SLC NAND Flash For IoT And Automotive

[Benzinga] – Micron Technology, Inc. (NASDAQ: MU ) revealed its newest embedded SLC NAND Flash maximized for the next generation of Internet of Things (IoT), as well as, automotive applications. According to the chip … Read more on this. Micron Technology, Inc. (MU) , valued at $12.72B, started trading this morning at $11.90. Today, shares have traded between $11.89 and $12.55 per share and has traded between $9.31 and $28.62 over the past year. MU shares are currently priced at -195.50x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -0.40x earnings multiple for the same period. According to a consensus of 22 analysts, the earnings estimate of $-0.18 per share would be $0.37 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $-0.06 which would be a $2.75 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.08 Billion. If realized, that would be a 14.44% 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. The average price target for MU shares is $14.86, which is 24.87% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Stock Update: Micron Technology Inc (NASDAQ:MU) – Micron Drops 6%, But MKM Sees Improving NAND, DRAM Trends Stock Update (NASDAQ:MU): Micron Takes Client Data Storage to the Next Dimension with Fast, Secure, Power-Efficient 3D NAND Flash Solid State Drives Stock Update (NASDAQ:MU): Micron Simplifies Path to Next-Generation All-Flash Data Center with Introduction of Micron Accelerated Solutions