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Actionable news in MU: Micron Technology, Inc.,

Micron Earnings Preview: Looks To Be Bottoming In Mid-Teens, Valuation Reasonable, But Upside Is The Question?

At $14.50 per share, MU trading at 3(x) cash from ops.

The memory company is even free cash flow positive and has repurchased some stock.

The ghost of memory cycles past has re-visited MU though.

Technically the stock looks to be bottoming in the mid-teens here.

Micron Technology, (NASDAQ:MU) the much-maligned memory manufacturer that was once described by an anonymous hedge fund manager as an "airline with a fab attached," reports its fiscal Q1 '16 ended November 30 '15 financial results after the bell on Tuesday.

Consensus expectations for MU's report are looking for $0.23 in earnings per share (EPS) on $3.46 billion in revenue for expected year-over-year declines of 76% and 24%, respectively.

Qtr-end11/15 Q1 (est)8/15 Q45/15 Q32/15 Q2
FY18 EPS est$2.12$2.68$4.01n/a
FY17 EPS est$2.21$2.44$3.45$4.16
FY16 EPS est$1.25$1.53$2.89$3.78
FY18 P/E ratio7(x)6(x)6(x)n/a
FY17 P/E ratio7(x)6(x)7(x)7(x)
FY16 P/E ratio12(x)10(x)8(x)8(x)
FY18 revenue est$16.47$17.0$19.4n/a
FY17 revenue est$16.2$16.6$17.8$19.4
FY16 revenue est$14.5$14.9$16.9$18.7
FY18 rev est gro rt2%3%9%n/a
FY18 rev est gro rt12%11%5%4%
FY16 rev est gro rt-10%-8%3%

10%

  • est = estimate
  • est EPS gro rt = estimated EPS growth rate
  • rev est gro rt = revenue estimated growth rate

Readers don't have to know what DRAM prices did over the last year - you can see it in the steadily declining EPS...


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