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Micron Technology Inc. (MU): Today's Featured Technology Laggard

Stock quotes in this article: MU

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Micron Technology ( MU) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 1.7%. By the end of trading, Micron Technology fell $0.69 (-4.7%) to $14.13 on average volume. Throughout the day, 53,384,727 shares of Micron Technology exchanged hands as compared to its average daily volume of 43,134,400 shares. The stock ranged in price between $13.97-$14.41 after having opened the day at $14.41 as compared to the previous trading day's close of $14.82. Other companies within the Technology sector that declined today were: TranSwitch Corporation ( TXCC), down 17.8%, Suntech Power Holdings ( STP), down 14.3%, Helios and Matheson Analytics ( HMNY), down 14.1% and Vipshop Holdings ( VIPS), down 13.9%.

Micron Technology, Inc., together with its subsidiaries, engages in the manufacture and marketing of semiconductor devices worldwide. Micron Technology has a market cap of $15.5 billion and is part of the electronics industry. Shares are up 136.1% year to date as of the close of trading on Wednesday. Currently there are 14 analysts that rate Micron Technology a buy, 2 analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Micron Technology as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall.

On the positive front, Alvarion ( ALVR), up 86.2%, Volterra Semiconductor Corporation ( VLTR), up 54.8%, SemiLEDs ( LEDS), up 12.8% and Deltathree ( DDDC), up 10.0%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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