Micron Technology, Inc. MU shares are trading higher by 3.02% to $55.32 Friday. Shares of several semiconductor companies are trading higher on continued strength following strong earnings from Lam Research Corporation LRCX this week. The sector may also be gaining in sympathy with Applied Materials, Inc. AMAT, which was upgraded by New Street Research.
What Happened?
Lam Research reported quarterly earnings of $10.42 per share, which beat the analyst consensus estimate of $9.55. The company also reported quarterly sales of $5.07 billion, which beat the analyst consensus estimate of $4.88 billion by 4%.
This sales figure represents an 18% increase over sales of $4.30 billion in the same period last year.
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According to data from Benzinga Pro, Micron has a 52-week high of $98.45 and a 52-week low of $48.45.
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