Stock Update: Micron Technology Inc (NASDAQ:MU) – Bulls continue their stampede into Micron

[optionMONSTER] – Traders are charging into Micron Technology for the second time in as many sessions. optionMONSTER’s monitoring system detected the purchase of more than 28,000 June 13 calls for $0.35 to $0.60 today. … Read more on this. Micron Technology, Inc. (MU) , with a current value of $12.44B, opened at $11.53. Looking at the equity, the company’s one day range is $11.52 to $12.41 with its 52-week range being $9.31 to $29.25. Micron (MU) shares are currently priced at 82.57x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 6.97x earnings multiple for the same period. Consensus earnings for the current quarter by the 26 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 $0.08 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $0.14, which would be a $2.55 setback when compared to the last year’s annual results. 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. More recently, Brean Capital Initiated MU at Buy (Apr 15, 2016). Previously, Raymond James upgraded MU from Outperform to Strong Buy. The average price target for MU shares is $13.50, which is 17.09% above where the stock opened this morning. 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
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