Revenue Update on Micron Technology(NASDAQ:MU)

Micron Technology(NASDAQ:MU) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during After-hours on Jun 30, 2016. Company reported revenue of $2.90B. Analysts estimated a revenue of $2.96B. Earnings per share were $-0.08. Analysts had estimated an EPS of $-0.09.

In a different note, On Jun 23, 2016, Nomura said it Upgrades its rating on Micron Technology. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 23, 2016, Susquehanna said it Upgrades its rating on Micron Technology. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Positive’ by the firm. On Jun 6, 2016, Goldman Sachs said it Maintains its rating on Micron Technology. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 31, 2016, Baird said it Upgrades its rating on Micron Technology. The shares have been rated ‘Outperform’ by the firm. On May 18, 2016, Bernstein said it Maintains its rating on Micron Technology. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Apr 19, 2016, Pacific Crest said it Assumes its rating on Micron Technology. The shares have been rated ‘Sector Weight’ by the firm.

Micron Technology (MU) shares turned negative on Tuesdays trading session with the shares closing down -0.59 points or -4.72% at a volume of 3,72,98,860. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.45. The peak price level was also seen at $12.45 while the days lowest was $11.8. Finally the shares closed at $11.91. The 52-week high of the shares is $20.57 while the 52-week low is $9.31. According to the latest information available, the market cap of the company is $12,351 M.

Several Insider Transactions has been reported to the SEC. On Jan 25, 2016, Ernest E Maddock (CFO) purchased 10,000 shares at $10.69 per share price.Also, On Jan 19, 2016, Joel L Poppen (VP Legal Affairs, Gen Counsel) sold 47,685 shares at $11.10 per share price.On Jul 20, 2015, Robert L Bailey (director) sold 4,000 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Micron Technology Inc. is a global provider of semiconductor devices. Through the Company’s global operations it manufactures and markets a full range of Dynamic Random Access Memory (DRAM) NAND Flash and NOR Flash memory as well as other memory technologies packaging solutions and semiconductor systems for use in leading-edge computing consumer networking automotive industrial embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU) which includes DRAM and NOR Flash products; Mobile Business Unit (MBU) which includes DRAM NAND Flash and NOR Flash products; Storage Business Unit (SBU) which includes NAND Flash components and Solid-State Drives (SSDs) cloud and removable storage markets. SBU also includes NAND Flash products and Embedded Business Unit (EBU) which includes DRAM NAND Flash and NOR Flash products.

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