Micron Technology (MU) Down In Pre-Market Trading

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.

Trade-Ideas LLC identified Micron Technology ( MU) as a pre-market laggard candidate. In addition to specific proprietary factors, Trade-Ideas identified Micron Technology as such a stock due to the following factors:

  • MU has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $538.4 million.
  • MU traded 15,910 shares today in the pre-market hours as of 7:41 AM.
  • MU is down 2.9% today from yesterday's close.

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More details on MU:

Micron Technology, Inc., together with its subsidiaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems. MU has a PE ratio of 13.0. Currently there are 17 analysts that rate Micron Technology a buy, 1 analyst rates it a sell, and 3 rate it a hold.

The average volume for Micron Technology has been 25.2 million shares per day over the past 30 days. Micron Technology has a market cap of $35.3 billion and is part of the technology sector and electronics industry. The stock has a beta of 1.44 and a short float of 9.9% with 6.09 days to cover. Shares are up 51.5% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Micron Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, notable return on equity, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:
  • The revenue growth greatly exceeded the industry average of 18.6%. Since the same quarter one year prior, revenues rose by 48.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Compared to its closing price of one year ago, MU's share price has jumped by 74.10%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, MU should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. When compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, MICRON TECHNOLOGY INC's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500.
  • 45.85% is the gross profit margin for MICRON TECHNOLOGY INC which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 27.20% is above that of the industry average.

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