What to Expect From Micron Earnings

By Chris Lange Updated Apr 28, 9:56AM EDT · Published Jun 24, 3:39PM EDT

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semiconductor

Micron Technology, Inc. (NASDAQ: MU) is scheduled to report its fiscal third-quarter financial results Thursday after the markets close. The consensus estimates from Thomson Reuters call for $0.57 in earnings per share (EPS) on $3.91 billion in revenue. The same period from the previous year had $0.29 in EPS on $3.98 billion in revenue.

The company is a global leader in advanced semiconductor systems. Micron’s broad portfolio of high-performance memory technologies, including DRAM, NAND and NOR flash, is the basis for solid state drives, modules, multichip packages and other system solutions. The company’s memory chip solutions enable the world’s most innovative computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications.

Micron and Intel announced recently the availability of their 3D NAND technology, the world’s highest-density flash memory. Flash is the storage technology used inside the lightest laptops, fastest data centers and nearly every cell phone, tablet and mobile device.

Analysts at Jefferies feel that while DRAM pricing was weaker than expected in the first quarter, the company has taken solid supply-side actions, which should help firm pricing.

A few other analysts weighed in on Micron prior to its earnings:

Needham has a Strong Buy rating but lowered its price target to $40 from $50
MKM has a Neutral rating but lowered its price target to $30 from $33
J.P. Morgan has an Overweight rating but lowered its price target to $33 from $37
Wedbush reiterated a Buy rating with a $31 price target
Goldman Sachs downgraded Micron to a Sell rating and lowered its price target to $19 from $27

So far Micron has suffered in 2015, shares are down 30% year to date. If Micron wants to get off of its 52-week lows, it’s going to have to start with this earnings.

Shares of Micron were down 1.7% at $24.07 on Wednesday afternoon. The stock has a consensus analyst price target of $35.67 and a 52-week trading range of $23.70 to $36.59.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.