8 Stocks Under $8 With Upside
4. Micron Technology (MU) provides advanced semi conductor solutions and manufactures DRAM, NAND Flash memory and packaging solutions.
During the third quarter of fiscal 2011, net income stood at $75 million on total revenue of $2.1 billion. The company's consolidated gross margin improved sequentially to 22% from 19% on lower manufacturing costs.
Operating cash flow for third quarter was $589 million and capital expenditure was $534 million. The company repaid $327 million debt and closed the quarter with cash and short-term investments of $2.4 billion.During the third quarter, the company sold its wafer fabrication facility in Japan to Tower Semiconductor. Operating income for the period also included $8 million receipts from the U.S. government related to anti-dumping duties. Analysts project 59% upside over the next year.
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