Stock Update (NASDAQ:MU): Micron president Adams to resign for health reasons

[AP] – Micron Technology President Mark Adams plans to resign due to health reasons. The Boise, Idaho, chipmaker said Monday that Adams will stay with the company until Feb. 1. It did not detail the health reasons … Read more on this. Micron Technology, Inc. (MU) , with a current market cap of $14.67B, opened this morning at $13.84. Today, shares have traded between $13.81 and $14.17 per share with a one year range of $13.50 to $35.52. Priced at 28.90x this year’s forecasted earnings, MU shares are relatively expensive compared to the industry’s 10.46x forward p/e ratio. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $-0.07 per share, which would be $0.81 better than the year-ago quarter and a $0.29 sequential increase. The full-year EPS estimate is $0.49 which would be a $2.20 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.06 Billion. If realized, that would be a 26.62% decrease over the year-ago quarter. Recently, Morgan Stanley upgraded MU from Equal-Weight to Overweight (Dec 17, 2015). Previously, Needham downgraded MU from Strong Buy to Hold. When considering if the stock is under or overvalued, the average price target is $18.45, which is 33.31% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Market Update: Micron Technology Inc (NASDAQ:MU) – Here’s Why Micron Technology (MU) Stock is Advancing Today Company Update: Micron Technology Inc (NASDAQ:MU) – Micron (MU) Stock Climbs on Morgan Stanley Upgrade Stock Update: Micron Technology Inc (NASDAQ:MU) – Micron (MU) Stock Gains, Analysts Applaud Inotera Deal