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6 Stocks Under $7 With Upside

2. Micron Technology (MU - Get Report) provides advanced semi conductor solutions and manufactures DRAM, NAND Flash memory and packaging solutions.

During the third quarter of fiscal 2011, consolidated gross margin improved sequentially to 22% from 19% on lower manufacturing costs. Net income stood at $75 million on total revenue of $2.1 billion.

The company repaid $327 million debt and closed the quarter with cash and short-term investments of $2.4 billion. For the quarter, operating cash was reported at $589 million and capital expenditure at $534 million.

During the quarter, the company sold its wafer fabrication facility in Japan to Tower Semiconductor. Analysts polled by Bloomberg project 86% upside over the next one year. The stock is trading at 8.3 times its estimated 2012 earnings and 56% of analysts have a buy rating on it.

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SYM TRADE IT LAST %CHG
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