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Technology Stocks : Semi Equipment Analysis
SOXX 312.76+1.1%Dec 8 4:00 PM EST
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Barrons preview of Micron earnings

Micron Reports Earnings Tomorrow. Here's What to Expect. -- Barrons.com
27 minutes ago

Dow Jones Newswires
Micron Technology is due to report its fiscal fourth-quarter earnings on Thursday after the market closes.
The chip maker is a leader in the DRAM and NAND semiconductor markets. DRAM, or dynamic random-access memory, is used in desktop computers and servers, while NAND is flash memory, found in smartphones and solid-state hard drives.

Here is a snapshot of Wall Street's expectations and some information on the company:

-- Micron stock (ticker: MU) has risen about 50% this year on hopes of a chip-industry recovery.

-- The company is expected to generate adjusted earnings per share of 51 cents for the fiscal fourth quarter, compared with $3.53 a year earlier. Analysts also anticipate sales of $4.6 billion for the quarter that ended in August.

-- On Sunday, Credit Suisse analyst John Pitzer reaffirmed his Outperform rating for Micron stock, predicting the chip maker will beat expectations. He forecasts Micron will have "a profitable cycle bottom for the first time" and believes the company has the potential to generate earnings above the prior cycle peak over the next 18 to 24 months. Pitzer has a $90 price target for Micron shares, which were trading at $48.55 Tuesday afternoon, down 2.1% against a 1.5% drop in the Nasdaq Composite Index.

-- Other Wall Street analysts are more mixed on Micron. Nearly 60% have ratings of Buy or the equivalent on the stock, while 30% have Hold ratings, according to FactSet. Their average target for the stock price is $50.44. 1.5

Management has scheduled a conference call to discuss the results with analysts and investors at 4:30 p.m. Eastern time on Thursday.

Write to Tae Kim at tae.kim@barrons.com
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