The worlds leading semiconductor manufacturer, Micron Technology, is expected to report its fiscal fourth-quarter earnings of $2.33 per share, representing year-over-year growth of more than 115% from $1.08 per share seen in the same quarter a year ago.<\/p>\n
The semiconductor company is expected to post revenue growth of over 30% to around $8.2 billion from a year earlier.<\/p>\n
According to ZACKS Research, for the fiscal fourth quarter, the company forecasts revenues of $8.2 billion (+\/- $200 million). Micron expects a non-GAAP gross margin of 47% (+\/-100bps) for its fiscal fourth quarter. Non-GAAP operating expenses are likely to reach $900 million (+\/-$25 million). The adjusted earnings per share are expected to be $2.30 (+\/-10 cents).<\/p>\n
Micron Technology shares closed nearly flat at $74.05 on Friday.<\/p>\n
While the underlying demand trends are strong and producer inventory levels are low heading into a period of seasonal strength, there are some signs of inventory adjustments short term after customers-built inventory, noted Joseph Moore, Equity Analyst at Morgan Stanley.<\/p>\n
We see demand growth on the back of seasonality, memory elasticity\/higher content per unit, and low customer inventories, and very slow supply growth in DRAM given declines in capex. We continue to believe that memory stocks have a relatively well-defined earnings cycle, though highs and lows are likely to be better than they have been historically.<\/p>\n
Twenty-one analysts who offered stock ratings for Micron Technology in the last three months forecast the average price in 12 months of $109.41 with a high forecast of $165.00 and a low forecast of $75.00.<\/p>\n
The average price target represents a 47.75% change from the last price of $74.05. From those 21 analysts, 16 rated Buy, five rated Hold while none rated Sell, according to Tipranks.<\/p>\n
Morgan Stanley gave the base target price of $75 with a high of $120 under a bull scenario and $40 under the worst-case scenario. The firm gave an Equal-weight rating on the semiconductor manufacturers stock.<\/p>\n
Story continues<\/p>\n
Several other analysts have also updated their stock outlook. BMO slashed the price target to $105 from $110. Mizuho cut the target price to $97 from $107. JPMorgan lowered the target price to $100 from $140.<\/p>\n
Check out FX Empires earnings calendar<\/p>\n
This article was originally posted on FX Empire<\/p>\n
<\/p>\n
Visit link:<\/p>\n
Microns Earnings to More Than Double in Q4, Revenue to Jump Over 30% - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The worlds leading semiconductor manufacturer, Micron Technology, is expected to report its fiscal fourth-quarter earnings of $2.33 per share, representing year-over-year growth of more than 115% from $1.08 per share seen in the same quarter a year ago. The semiconductor company is expected to post revenue growth of over 30% to around $8.2 billion from a year earlier. Continue reading