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 Electronics industry lower today making it today's featured Electronics laggard. The industry as a whole closed the day up 0.5%. By the end of trading, Micron Technology fell $1.11 (-4.8%) to $21.81 on heavy volume. Throughout the day, 106,000,856 shares of Micron Technology exchanged hands as compared to its average daily volume of 44,891,200 shares. The stock ranged in price between $20.81-$22.49 after having opened the day at $22.49 as compared to the previous trading day's close of $22.92. Other companies within the Electronics industry that declined today were: Jabil Circuit ( JBL), down 20.5%, Orion Energy Systems ( OESX), down 8.2%, Pulse Electronics ( PULS), down 6.8% and GigOptix ( GIG), down 6.7%.
Micron Technology, Inc., together with its subsidiaries, manufactures and markets semiconductor solutions worldwide. Micron Technology has a market cap of $24.1 billion and is part of the technology sector. The company has a P/E ratio of 20.1, above the S&P 500 P/E ratio of 17.7. Shares are up 259.1% year to date as of the close of trading on Tuesday. Currently there are 14 analysts that rate Micron Technology a buy, 2 analysts rate it a sell, and 9 rate it a hold. TheStreet Ratings rates Micron Technology as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.