In a program on Fox Business, Charles Payne, NewOak Capital President James Frischling and Penn Financial Group founder Matt McCall talked about chip maker Micron Technology, Inc. (NASDAQ:MU). Payne said that the company has recovered from its bad times and it is now focusing on Cloud, innovation, data centers, NAND flash, memory chips and other semiconductor devices that are massively used in the enterprise. He said that Micron Technology, Inc. (NASDAQ:MU) was facing some issues in the past and therefore was questioned by many experts. Lack of sound execution is the problem with Micron Technology, Inc. (NASDAQ:MU), Payne thinks.
Analysts have increased their expectations from Micron Technology, Inc. (NASDAQ:MU) after its comeback. Micron Technology, Inc. (NASDAQ:MU)’s total shareholder returns went up by 140% in the fiscal year 2013. On Monday, Greenlight Capital lowered its stake in Micron Technology, Inc. (NASDAQ:MU). As a result, the stock came down by 1.9% to $31.99. Majority analysts are maintaining a buy rating for the company because of its robust revenue growth, stock performance, good profit margins, valuation levels and return on equity. Payne said that Micron Technology, Inc. (NASDAQ:MU) will touch $42 stock price in the coming days. Another expert said that the chip maker stock is volatile but if it can get to $35 per share, it can perform well.
Mark Durcan, Micron’s CEO recently got a massive raise. He received a valuation at $11.5 million, which is up by 66% in fiscal 2013. James Frischling, another expert in the program said that Micron Technology, Inc. (NASDAQ:MU) is going to face massive competition from Samsung. The Korean giant has recently shifted its 500 engineers from its phone business to Internet of Things.
David E. Shaw‘s D.E. Shaw & Co., L.P. is one of the shareholders of Micron Technology, Inc. (NASDAQ:MU), having around 11 million shares of the company.
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