Micron Technology Inc. (NASDAQ: MU) has reported earnings for its third fiscal quarter (ending May 31) of $0.30 versus a loss $-1.73 for the same period a year ago. For the latest four quarters through May 31, E.P.S. were $-1.41 versus $-2.67 for the same period a year ago.
Recent Price Action
On 6/26/24, Micron Technology Inc. (NASDAQ: MU) stock rose modestly by 0.9%, closing at $142.36. Moreover, trading volume in this advance was exceptionally high at 263% of normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -3.7% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, MU is expected to continue to be a major Value Builder.
Micron Technology has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Micron Technology has a poor Appreciation Score of 22 but a very high Power Rating of 98, with the High Neutral Value Trend Rating the result.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
Be the first to comment