Micron (MU) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Micron (MU) announced its quarterly earnings results on Tuesday, Dec-22-2015. The company reported $0.24 Earnings Per Share for the quarter, beating the analyst consensus estimate by $0.01. Analyst had a consensus of $0.23 EPS. The company had revenue of $3350.00 million for the quarter, compared to analysts expectations of $3465.02 million.The company’s revenue was down -26.7% compared to the same quarter last year. During the same quarter in the previous year, Micron posted $0.97 EPS.

Micron Technology, Inc. (NASDAQ:MU) : On Thursday heightened volatility was witnessed in Micron Technology, Inc. (NASDAQ:MU) which led to swings in the share price. The shares opened for trading at $14.65 and hit $14.77 on the upside , eventually ending the session at $14.32, with a gain of 1.78% or 0.25 points. The heightened volatility saw the trading volume jump to 28,992,621 shares. The 52-week high of the share price is $35.74 and the company has a market cap of $15,548 million. The 52-week low of the share price is at $13.5 .

During the last several months other analysts have commented on the company rating. Major Brokerage house, Bank of America downgrades its ratings on Micron Technology, Inc. (NASDAQ:MU). According to the latest information available, the shares are now rated Underperform by the analysts at the agency. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on October 21, 2015.

Micron Technology, Inc. (NASDAQ:MU) has received a hold rating for the short term, according to the latest rank of 3 from research firm, Zacks. The company received an average rating of 1.85 from 27 analysts. As per the latest data, 1 analysts has given a sell rating on the shares of the company. 15 have rated it as a strong buy. 2 analysts recommended buying the shares. 9 analysts have rated the company at hold.

Micron Technology, Inc. (NASDAQ:MU): 18 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $21.81 in Micron Technology, Inc. (NASDAQ:MU). However, the stock price could fluctuate by $ 7.57 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $40 price target with the lower price estimate is calculated at $11

Micron Technology, Inc. has lost 2.32% in the last five trading days and dropped 6.28% in the last 4 weeks. Micron Technology, Inc. has dropped 7.61% during the last 3-month period . Year-to-Date the stock performance stands at -59.1%.

Micron Technology, Inc., is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products. In addition, the Company manufactures semiconductor components for CMOS images sensors and other semiconductor products. The Company operates in four segments: NAND Solutions Group (NSG), DRAM Solutions Group (DSG), Wireless Solutions Group (WSG) and Embedded Solutions Group (ESG). The Company’s product include NAND Flash Memory, Dynamic Random Access Memory (DRAM) and NOR Flash Memory. The Company’s manufacturing facilities are located in the United States, China, Israel, Italy, Malaysia, Puerto Rico and Singapore. Effective August 11, 2014, Micron Technology Inc acquired an undisclosed minority stake in Kingston Solutions Co Ltd.