Ticker delayed 20 minutes
|Avg Daily Volume: 19,498,948 Market Cap: 56.68B|
Sector: Technology Short Interest: None
THIS QTR: EPS: .47/share REV: 5,010/M
LAST QTR: EPS: .49/share ACTUAL: .56/share (BEAT)
NEXT QTR: EPS: .41/share REV: 4,718/M
FULL YR: EPS: 2.43/share REV: 20,550/M
*These are the base metrics we will be watching against the actual release numbers
BEAT/MISS RECORD: 60% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) -11.7, 15.08, 10.16
EXPECTED JUMP MOVE: 10-15
Links To Latest News and Headlines
Demand for servers and PCs following work from home is boosting sales for companies like Micron Technologies (MU) and NVIDIA Corporation (NVDA).
Micron Technology stock has risen recently on signs of improving memory-chip sales. Here is what the fundamentals and technical analysis say about buying MU stock right now.
Is (MU) Outperforming Other Computer and Technology Stocks This Year?
The Zacks Analyst Blog Highlights: Taiwan Semiconductor Manufacturing, Micron Technology, Power Integrations, Cree and Maxim Integrated Products
For Micron (MU), the end of 2020 was marked by a shift from a company struggling under difficult macro conditions and the semiconductor industry’s cyclical nature to one offering a more optimistic outlook. The transition got full confirmation last Thursday when the memory giant beat the estimates in its latest quarterly results.In F1Q21, Micron delivered revenue of $5.77 billion, a 12.3% uptick over the same period last year, while beating Street’s forecast by $110 million. FQ1 Non-GAAP EPS of $0.78 came in $0.09 above consensus.The company’s guidance for the next quarter was also a display of strength, with revenue anticipated to come in between $5.6 billion to $6 billion, above the $5.52 billion of revenue Street analysts were calling for.Evidently, demand for Micron’s memory products is on the rise. The trends are in Micron’s favor, too. 5G smartphones require more DRAM memory and the company is well positioned to benefit as 5G use becomes more prevalent in the years ahead.Susquehanna analyst Mehdi Hosseini says that despite the bullish sentiment, Micron’s tone on the earnings call was one of caution, which reminds him of the noises made in the previous earnings call. Yet, he sees this vigilant position as a positive.“We actually favor conservatism especially in the current environment where customers are unwilling to commit to more than a few months of shipment contracts,” Hosseini said.However, Hosseini tells investors to “focus on earning power a year out.” And in this regard, the analyst is unequivocally positive.“We argue MU remains on pace to exit 2021 with well over $2 of quarterly earnings,” the 5-star analyst opined. “In fact, after two years of recession in earnings (FY/CY 19-20), compares are favorable, pricing dynamics changing to favor suppliers, and there are increased prospects of quarterly operating margin doubling over the next year.”As a result, Hosseini reiterated a Positive (i.e. Buy) rating on MU, while increasing his price target from $90 to $100. The new figure implies a 26% upside potential from current levels. (To watch Hosseini’s track record, click here)Hosseini’s bullish assessment is no anomaly on Wall Street. The stock currently boasts 23 Buys alongside 2 Holds, all adding up to a Strong Buy consensus rating. At $96.92, the average price target is set to provide gains of 22% over the next 12 months. (See Micron stock analysis on TipRanks)To find good ideas for chip stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. More recent articles from Smarter Analyst: * J.P. Morgan Reiterates Neutral Stance on Moderna Following Healthcare Conference * These 2 Penny Stocks Could Surge Over 300%, Say Analysts * Quanterix’s Covid-19 Antigen Test Cleared For Emergency Use In US; Shares Pop 10% * Applied DNA Sciences (APDN): Next Stop, $18?
StockJumpers analysis and trade plans are uploaded generally 1 HOUR (3PM EST) for most events.
“I’m sorry, this content is for members only. To access this content, you must log in with your membership credentials – OR if you are not a member yet, visit our registration page here and get signed up Looking forward to having you on-board ASAP”
There is a significant amount of data behind the scenes involved in the analysis and trade plan tab above, that does not get put into the report. Too much information for traders often confuses things – so this is striped down to only what it needed to make the best possible decision(s) on trading the trajectory.