Here Is What To Expect

Memory chips maker Micron (NYSE:MU) will be announcing earnings results this Tuesday after market hours. Here’s what to look for.

Micron beat analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $9.30 billion, up 36.6% year on year. It was a very strong quarter for the company, with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.

Is Micron a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Micron’s revenue to grow 43.5% year on year to $11.12 billion, slowing from the 93.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.86 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Micron has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.8% on average.

With Micron being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for semiconductors stocks. However, there has been positive investor sentiment in the segment, with share prices up 10.3% on average over the last month. Micron is up 39.4% during the same time and is heading into earnings with an average analyst price target of $160.77 (compared to the current share price of $162.25).

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