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MU looks to be having a great break out |
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today. Tech sector heating up. |
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Released on Friday, September 9, 2011, 2:00 PM ET
Pittsburgh, PA (SpeculatingStocks) - Micron Technology, Inc. (Nasdaq: MU) looks to be having a great break out today--no doubt in response to the recent favorable news hitting the technology sectors earlier this morning.
Micron Technology is a semi-conductor research and development company who recently released to the market its new SPI memory device on August 25th, 2011. The SPI is supposed to be the most powerful high-density, high-performance flash memory available.
Taking a look at the company’s finances, it seems to be paying down some long-term debt as a long-term strategy, but still has favorable returns to its investors. Micron also has a current ratio of approximately 2.33 making it able to cover any current debts.
MU had net income after interest expense and taxes of $75 Million this past quarter ending June 30th, 2011. Other financials indicate stability with this break out with an approximate P/E of 10.68, an EPS of 0.62, and 52-week range of about 5.18—11.95.
Right now MU is trading at $6.67 per share (10:33 AM EDT), already a 6.65% gain break-out since the market opened today and MU was trading at $6.31 (9:32 AM EDT) with a nice volume of approximately 900 thousand (10:33 AM EDT). MU has a market cap. of only 6.61 Billion making it a hot small-cap to make great returns.
With Micron producing new technology like the SPI Flash Memory, acquiring competitor companies like Numonyx, and maintaining advantageous financials, it’s a buy, but get it now while its cheap a massive break out could be in this company’s future—starting today. This break out could reach or even surpass its 52-week high of 11.95.
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