Micron Technology (MU, Financial) experienced a significant stock price increase, surging 5% to $109.54 per share. The trading volume reached 14.15 million shares, with a turnover rate of 1.28% and a volatility of 3.76%. The company's recent earnings report showed revenue of $25.11 billion, net profit of $778 million, and earnings per share (EPS) of $0.70, with a gross profit of $5.785 billion and a price-to-earnings ratio of 156.46.
In terms of analyst ratings, 90% of the 40 participating institutions recommended buying the stock, 8% suggested holding, and 2% advocated selling. Within the semiconductor sector, where Micron operates, the overall decline was 0.67%. However, several related stocks saw significant increases, including Wolfspeed, Inc., Smartkem, Inc., and Poet Technologies Inc. Notably active stocks were WiSA Technologies, Wolfspeed, Inc., and Aehr Test Systems, with turnover rates of 45.78%, 24.33%, and 4.13% respectively. Stocks with notable volatility were Wolfspeed, Inc., WiSA Technologies, and Smartkem, Inc., showing fluctuations of 23.30%, 21.97%, and 19.01% respectively.
As one of the world's largest semiconductor companies, Micron specializes in memory and storage chips. The company's primary revenue comes from dynamic random access memory (DRAM), with a minority of income from non-NAND or NAND flash chips. Micron serves a global customer base, supplying chips to data centers, mobile phones, consumer electronics, and industrial and automotive applications. The company is vertically integrated.
