Micron Technology, Inc (NASDAQ:MU) stock surged 5.7% on Friday after yet-another unverified announcement that the chip maker is acquiring Elpida Memory of Japan. The report was published by Nikkei. Micron spokesperson reported that the chip maker does not remark on speculation.
Anyhow Micron stock was trending higher since the speculated merger is anticipated to offer the corporation a boost in the DRAM memory market.
C. J. Muse analyst of Barclays reported in a note that they believe the news was positive for shares although details were still limited.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Spansion Inc. (NYSE:CODE) increased +6.09% to settle at $10.98, Intel Corporation (NASDAQ:INTC) moved up +3.17% to end at $26.65 while SanDisk Corporation (NASDAQ:SNDK) surged +5.13% to finish on Friday at $36.48.
Micron Technology, Inc. (NASDAQ:MU) last session volume of 32.25 million shares was higher than its average volume of 26.99 million shares. The stock after opening at $6.10 hit high price of $6.32 and then closed at $6.31 by scoring +5.70%.
MU generated revenue of 8.41 billion in the following twelve months and earned -$924.00 million. The Company showed a negative -7.38% in the net profit margin and as well as in its operating margin which remained -4.97%. Company’s annual sales growth for the past five year was 10.76%.
The MU past twelve months price to sales ratio was 0.70 and price to book ratio remained 0.80.
The stock showed weekly upbeat performance of +9.93% which was maintained for the month at -8.05%. Likewise the negative performance for the quarter was recorded as -22.10% and for the year was -15.64% while the YTD performance remained at +0.32%.
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