Tomahawk, WI 12/17/2013 (BasicsMedia) – Micron Technology, Inc. (NASDAQ:MU) is the global No. 5 semiconductor company. It previously held the tenth position among global memory makers. Its recent rise in the ranking is due to increased marketing, expansion of market share and growing sales. The company has particularly been up strongly this year and this growth has served to lay solid ground for its future growth.

Micron Technology, Inc. (NASDAQ:MU) makes and markets memory devices such as DRAM, NOR Flash and NAND Flash. These devices are used in automotives, computing, industrial and mobile products. Mobile memory has been the strongest segment for the company in recent years.

Due to the growing business of the company, analysts have been weighing in with recommendations. The company now carries a buy rating in recent comments and its strengths can be seen in multiple areas.

Strength areas

Micron Technology, Inc. (NASDAQ:MU) has recorded impressive earnings per share in recent quarters, showing some significant improvements compared to last year. Its stock price has also been seen improving over the last few quarters of fiscal 2013 and this growth in stock price has elicited interest in the stock as investors increase their hold in the stock.

It is important to note that hedge funds are also jostling for position in the stock, a clear indication that it is headed in the right direction. In the same vein, it is important to note that following hedge funds and insider activity in a stock are some of the best ways to invest wisely.

Revenue growth is yet another noticeable strength in Micron Technology, Inc. (NASDAQ:MU). The company has posted impressive revenue growth so far this year. This has been achieved through increased marketing and acquisitions which have not only elevated its production to take advantage of the bullish market, but also improved its market share.

Equally important is the company’s attractive net income. Micron Technology, Inc. (NASDAQ:MU) has been posting increasing profits and this is testimony to its growth in value as a company.

It is on this basis that analysts are recommending this stock as a buy because although it has seen impressive growth, there is still more room for growth and investors can take advantage of this opportunity to make attractive money from the bullish memory market.

Colorful performance

Micron Technology, Inc. (NASDAQ:MU) announced on its most recent quarter report on Oct. 10, a $2.84 billion revenue. This exceeded the $2.70 billion revenue estimate for the quarter. Earning for the quarter was $1.51 per share, exceeding $1.27 per share which was the consensus estimate for the quarter. The latest revenue figure jumped 44.8 percent above the corresponding quarter last year.

Given the company’s high profit margin and the bullish semiconductor market, Micron Technology, Inc. (NASDAQ:MU) looks poised for even better earnings in the current quarter on significant revenue growth. The stock is currently trading around $23 per share. However, analysts are hoping it would jump as high as $30 in the coming months as more investors read the good tiding in the memory industry. The company’s range in the past 12 months is $23.67 on the higher side and $6.07 on the lower side.

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