NEW YORK (TheStreet) -- Shares of Micron Technology were gaining 4.3% to $28.30 after-hours Wednesday after the memory chip maker beat analysts' estimates for estimates in the fiscal second quarter. Micron Technology reported earnings of 78 cents a share for the second quarter, above analysts' estimates of 73 cents a share for the quarter. Revenue grew 1.5% year over year to $4.17 billion for the quarter, compared to analysts' estimates of $4.15 billion. The company said that revenue fell 9% compared to the fiscal first quarter primarily due to declines in DRAM unit volumes and decreases in selling prices for NAND and DRAM memory. The company said that lower selling prices for NAND and DRAM were also a primary reason for its gross margin falling to 34% in the quarter compared to 36% in the first quarter. TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: "We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook." You can view the full analysis from the report here: MU Ratings Report MU data by YCharts Must Read: Warren Buffett's Top 25 Stocks for 2015
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