Micron Technology (MU) Off To A Strong Start In Pre-Market Activity
Trade-Ideas LLC identified
(
) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Micron Technology as such a stock due to the following factors:
- MU has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $476.6 million.
- MU traded 33,431 shares today in the pre-market hours as of 8:37 AM.
- MU is up 2.1% today from yesterday's close.
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More details on MU:
Micron Technology, Inc., together with its subsidiaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems. MU has a PE ratio of 7. Currently there are 17 analysts that rate Micron Technology a buy, 1 analyst rates it a sell, and 9 rate it a hold.
The average volume for Micron Technology has been 30.9 million shares per day over the past 30 days. Micron Technology has a market cap of $18.1 billion and is part of the technology sector and electronics industry. The stock has a beta of 2.08 and a short float of 5.8% with 2.21 days to cover. Shares are down 53.7% year-to-date as of the close of trading on Thursday.
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Analysis:
rates Micron Technology as a
. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow.
Highlights from the ratings report include:
- The current debt-to-equity ratio, 0.59, is low and is below the industry average, implying that there has been successful management of debt levels. To add to this, MU has a quick ratio of 1.54, which demonstrates the ability of the company to cover short-term liquidity needs.
- 46.67% is the gross profit margin for MICRON TECHNOLOGY INC which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 13.08% trails the industry average.
- MICRON TECHNOLOGY INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last year. We anticipate that this should continue in the coming year. During the past fiscal year, MICRON TECHNOLOGY INC reported lower earnings of $2.46 versus $2.55 in the prior year. For the next year, the market is expecting a contraction of 44.7% in earnings ($1.36 versus $2.46).
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income has significantly decreased by 59.0% when compared to the same quarter one year ago, falling from $1,150.00 million to $471.00 million.
- You can view the full Micron Technology Ratings Report.
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