Why Micron Technology (MU) Is Climbing After Hours

NEW YORK (TheStreet) -- Semiconductor manufacturer Micron Technology (MU) managed to beat analysts' estimates on the top- and bottom-line in its second quarter.

Over the three months to Feb. 27, the company recorded a 97.1% year-over-year jump in revenue to $4.1 billion, while net income of 85 cents a share climbed 8 cents a share from the year-ago quarter.

Analysts surveyed by Thomson Reuters had forecast net income of 76 cents a share and $3.99 billion in revenue.

The Boise, Id.-based business reported an 11% quarter-on-quarter jump in sales of Trade NAND Flash products, while revenue from its DRAM products remained unchanged from the first quarter ended November.

After the bell, shares had added 1.4% to $24.33.

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TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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