Company Update: Micron Technology Inc (NASDAQ:MU) – Why Micron May Have 5 Times More Upside Than Downside

[at 24/7 Wall St.] – Despite having a dismal year, Micron Technology might be turning things around with its most recent acquisition. Read more on this. Micron Technology, Inc. (MU) , valued at $14.98B, started trading this morning at $14.38. Looking at the equity, the company’s one day range is $14.26 to $14.72 and has traded between $13.50 and $35.74 over the past 12 months. Micron (MU) shares are currently priced at 11.28x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.98x earnings multiple for the same period. According to a consensus of 24 analysts, the earnings estimate of $0.23 per share would be $0.74 worse than the year-ago quarter and a $0.21 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $1.27 is a $1.42 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.47 Billion. If realized, that would be a 24.07% decrease over the year-ago quarter. Recently, Morgan Stanley upgraded MU from Equal-Weight to Overweight (Dec 17, 2015). Previously, Mizuho Initiated MU at to Buy. With the above information in mind, readers should note that the average price target is $20.78, which is 44.51% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Company Update: Micron Technology Inc (NASDAQ:MU) – Micron Technology (MU) Stock Higher on Possible SanDisk Acquisition Company Update: Micron Technology Inc (NASDAQ:MU) – What to Expect When Micron Technology (MU) Reports Earnings Tomorrow Company Update: Micron Technology Inc (NASDAQ:MU) – Micron Technology (MU) Stock Sliding Following Goldman Rating Cut