Micron Technology Inc. First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Micron Technology, Inc. (NASDAQ:MU) will unveil its latest earnings on Wednesday, December 21, 2011. Micron Technology is a global manufacturer and marketer of Flash memory, image sensors and other semiconductor components.

Micron Technology, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net loss of 6 cents per share, a swing from profit of 24 cents in the year earlier quarter. During the past three months, the average estimate has moved down from 10 cents. Between one and three months ago, the average estimate moved down. It also has dropped from a loss of 4 cents during the last month. Analysts are projecting profit to rise by 57.1% versus last year to 12 cents.

Past Earnings Performance: The company is hoping to beat estimates after missing the mark for two straight quarters. Last quarter, it reported a loss of 13 cents per share against an estimate of net income of one cent per share. The quarter before that, it missed forecasts by 8 cents.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 3.6% in revenue from the year-earlier quarter to $2.17 billion.

Analyst Ratings: Analysts are bullish on this stock with 16 analysts rating it as a buy, none rating it as a sell and six rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, the company swung to a loss of $135 million (13 cents a share) from a profit of $342 million (30 cents) a year earlier, missing analyst expectations. Revenue fell 14.2% to $2.14 billion from $2.49 billion.

Key Stats:

Micron Technology’s loss in the latest quarter followed profits in the previous three quarters. The company reported a profit of $75 million in the third quarter of the last fiscal year, a profit of $72 million in the second of the last fiscal year and a profit of $155 million in the first quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In the third quarter of the last fiscal year, the figure fell 6.5%.

Competitors to Watch: Intel Corporation (NASDAQ:INTC), Spansion Inc. (NYSE:CODE), SanDisk Corporation (NASDAQ:SNDK), Integrated Silicon Solution, Inc. (NASDAQ:ISSI), SMART Modular Tech. (WWH), Inc. (NASDAQ:SMOD), MoSys Inc. (NASDAQ:MOSY), LOGIC Devices Incorporated (NASDAQ:LOGC), Netlist, Inc. (NASDAQ:NLST), GSI Technology, Inc. (NASDAQ:GSIT), and Integrated Device Tech., Inc. (NASDAQ:IDTI).

Stock Price Performance: During November 16, 2011 to December 15, 2011, the stock price had dropped $1.19 (-17.7%) from $6.74 to $5.55. The stock price saw one of its best stretches over the last year between September 2, 2011 and September 14, 2011 when shares rose for eight-straight days, rising 30.9% (+$1.70) over that span. It saw one of its worst periods between May 31, 2011 and June 13, 2011 when shares fell for 10-straight days, falling 18.7% (-$1.91) over that span. Shares are down $2.47 (-30.8%) year to date.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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