Dallas, Texas 03/11/2014 (FINANCIALSTRENDS) – Micron Technology, Inc.(NASDAQ:MU) may have announced a settlement against an antitrust lawsuit, however, the same action also affected stock prices. The value of the settlement was $66.7 million, while the percentage fall for this electronic company was $1.6%. The price following the fall remained at $24.70. However, it has to be noted that the anti-trust appeal was not against Micron alone. In fact, it was part of the 11 DRAM memory product makers which the state of Idaho and over 34 other states chose to accuse. All of the accused companies, which are incidentally chipmakers will dole out a total of $311 million.
Other accused such a memory and smartphone maker Samsung will payout $113 million.
As part of the settlement, consumers can now file claims for refund of money which they may have overpaid because of the collusion by the chipmakers to remain non-competitive, which led to the massive inflation of prices for memory chips in the recent times.
Analysts upgrade MU
Micron Technology, Inc.(NASDAQ:MU) troubles both on and off the stock market, have gained the interest of analysts. These have now moved a Buy rating for this company over other ratings, until recently. Most analysts believe MU has great upside largely because of very few weaknesses. The revenue growth for the company, it cannot be denied is healthy, while the stock price has been largely solid. The earnings per share growth too is regarded as healthy for this company by analysts, thereby mooting a Buy for this stock.
Micron Technology, Inc.(NASDAQ:MU) has also posted good returns in terms of net income as well as good equity returns. The company however, is likely to see standards weakness as part of the industry itself, leading to better positioning of the company on the stock market. Micron Technology, should definitely look forward to enviable results for this quarter!