Micron: S&P Intraday Gainer

NEW YORK ( TheStreet) -- Semiconductor company Micron Technology ( MU) was the best performer in the S&P 500 intraday Tuesday.

The S&P 500 rose 5.93 points, or 0.43%, to 1,377.02 in trading early Tuesday.

Shares of Micron rose 4.95% to $8.48. Dynamic random access memory prices are expected to rise between 5% and 10% in March, according to Digitimes; Micron is a supplier of DRAM products.

Micron has an estimated price-to-earnings ratio for next year of 15.72; the average for semiconductor companies is 15.34. For comparison, SanDisk ( SNDK) has a lower forward P/E of 9.05; Altera's ( ALTR) forward P/E is 17.01.

Eighteen of the 26 analysts who cover Micron rated it buy. Seven analysts gave the stock a hold rating and one rated it sell.

TheStreet Ratings gives Micron a C- grade and a hold rating. The stock has risen 34.18% year to date.

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-- Written by Alexandra Zendrian

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