Why Micron Technology (MU) Stock Is Up in After-Hours Trading Today

NEW YORK (TheStreet) -- Micron Technology (MU) was gaining 3.8% to $32.91 after-hours Thursday after beating analysts' estimates for earnings and revenue in the fiscal fourth quarter.

The chipmaker reported earnings of 82 cents a share for the fourth quarter, beating the 81 cents a share analysts surveyed by FactSet estimated by 1 cent. Revenue grew 48.9% year over year to $4.23 billion for the quarter, above analysts' estimates of $4.16 billion for the quarter.

"Continued favorable market conditions and steady execution led to increases in sales volumes and another quarter of strong operating margins and earnings per share," CEO Mark Durcan said in a statement.

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

"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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

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