[at TheStreet] – Shares of Micron Technology (MU) are down Thursday as the company battles falling memory chip prices. Read more on this. Micron Technology, Inc. (MU) , valued at $9.89B, opened at $10.15. Looking at the stock, its one day range is $9.43 to $10.26 with a trailing 52-week range being $9.31 to $28.62. Micron (MU) shares are currently priced at 71.86x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -0.51x earnings multiple for the same period. Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $-0.09 per share, which would be $0.54 better than the year-ago quarter and a $0.07 sequential increase. What we find to be interesting is that the full-year EPS estimate of $0.14 is a $2.55 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.96 Billion. If realized, that would be a 23.12% decrease over the year-ago quarter. More recently, Brean Capital Initiated MU at Buy (Apr 15, 2016). Previously, Raymond James upgraded MU from Outperform to Strong Buy. With the above information in mind, readers should note that the average price target is $13.50, which is 33.00% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Market Update: Micron Technology Inc (NASDAQ:MU) – Micron: Samsung Kills the Memory Biz, Says Bernstein, Just Wait till the Chinese Get There Company Update: Micron Technology Inc (NASDAQ:MU) – Micron Technology to Host Analyst Conference Market Update: Micron Technology Inc (NASDAQ:MU) – Here’s Why Micron Technology (MU) Stock is Advancing Today