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Micron Technology, Inc. (NASDAQ:MU) Earnings Analysis

1982
By on Technology & Software

Micron Technology, Inc. (NASDAQ:MU) is expected to report third quarter earnings after the close on Monday, June 23, with a conference call scheduled for 4:30 pm ET. 

Wall Street analysts are looking for earnings per share of 70c on revenue of $3.89B. The consensus range is 58c-79c for EPS on revenue of $3.75B-$4.29B, according to First Call. 

The supply/demand dynamics for Micron and SanDisk (NASDAQ:SNDK) are more favorable than Bank of America Merrill Lynch had previously believed, analyst Simon Dong-je Woo wrote in a note to investors on June 11. Among the reasons for the change in the firm’s outlook are higher memory content in laptops and tablets made in China and more aggressive promotion of flash storage by data/network operators.

Analysts have a consensus price target of $31.28 on Micron Technology, Inc.(NASDAQ:MU) which indicates a 1.79% downside. The consensus rating of the stock is a BUY with a score of 2.78. There are currently 6 Hold ratings, 18 Buy ratings, 2 Strong buy and 1 sell ratings on the stock. A recent analyst action consisted of RBC Capital boosting their price target from $34 to $38 on June 20th.

About Micron

Micron Technology, Inc., together with its subsidiaries, manufactures and markets semiconductor solutions worldwide. It offers dynamic random access memory (DRAM) products for data storage and retrieval, including DDR4, DDR3, and DDR2 that offer high speed and high bandwidth; and other specialty DRAM memory products, such as DDR and DDR2 mobile low power DRAM, DDR, SDRAM, reduced latency DRAM, and pseudo-static DRAM products that are used in computers, servers, tablets, mobile phones, communication equipment, computer peripherals, industrial, automotive, and other electronic devices. The company also provides NAND flash memory products, such as flash memory cards comprising CompactFlash, Memory Stick, and Secure Digital; and JumpDrive products that are used in mobile phones, solid-state drives, tablets, computers, industrial and automotive applications, MP3/4 players, and other personal and consumer applications. In addition, it resells flash memory products that are purchased from other NAND flash suppliers. Further, Micron Technology, Inc. provides NOR flash memory products that are electrically re-writeable, non-volatile semiconductor memory devices used in consumer electronics, industrial, wired and wireless communications, computing, and automotive applications. The company markets its products to original equipment manufacturers and retailers through its internal sales force, independent sales representatives, and distributors, as well as through a Web-based customer direct sales channel, and channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

 

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