Here's Why Micron Shares Are Falling

Micron Technology, Inc. MU shares are trading lower by 4.24% to $61.16 during Wednesday's trading session. Shares of semiconductor companies at large are trading lower in sympathy with Analog Devices, which fell after the company reported third-quarter earnings results.

What Happened?

Analog Devices reported quarterly earnings of $2.52 per share which beat the analyst consensus estimate of $2.43. This represents an increase over earnings of $1.72 per share from the same period last year.

The company also reported quarterly sales of $3.11 billion which beat the analyst consensus estimate of $3.05 billion by 2%. This sales figure represents a 77% increase over sales of $1.76 billion in the same period last year... Read More

See Also: Here's How Much You'd Have Now If You Invested $1,000 In Bitcoin, Ethereum And Dogecoin 5 Years Ago

According to data from Benzinga Pro, Micron has a 52-week high of $98.45 and a 52-week low of $51.40.