Micron Technology (Nasdaq:MU) stock has been recently upgraded by TheStreet ratings form a hold stock to a buy stock. This is because of the fact that there are many areas where this company has displayed its strengths successfully. Areas like revenue growth, stock price performance, a good record of earnings per share growth, attractive valuation levels and a more than substantial growth in net income are some of the factors that have led to this change. There are also some chinks in its armor but they are unlikely to cause any major problems as the company seems all set to see a period of expansion and income.
Some highlights from the recent ratings report are mentioned below.
- The revenue growth was much greater than the industry average that was around 8.2%. Since Q3 last year, the company has seen a rise in revenue by 44.8% which has helped boost the earnings per share for this company.
- The stock has risen up by 192.62% in the last one year and a driving factor for this has been the earnings growth of 729.16%. The stock can fall in the future like any other stock but MU stock should continue to move higher up still despite of a nice run already.
- MU has reported significant earnings per share improvement over the last 2 years. It’s positive earning patterns has give it a much required boost in share prices. The improvement in the most recent quarter as compared to the same quarter last year has also been significant. During the past year, Micron Technology saw a turnaround in its bottom line earnings to $1.00-$1.04 and most analysts point out that this trend will continue. The projections for earnings in better this year $2.07 vs $1.00.
Micron Technology, Inc., with many of its subsidiaries manufactures and markets semiconductor devices worldwide, it has a market cap of around $17.7 billion and is a part of the technology and electronics industry.
