Over its May-ended quarter, the semiconductor specialist earned 79 cents a share, 9 cents higher than what analysts surveyed by Thomson Reuters expected. Revenue of $3.98 billion beat forecasts of $3.89 billion.
By early afternoon, shares had popped 5% to $32.83.
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Separately, 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 a few notable 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 the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
- You can view the full analysis from the report here: MU Ratings Report