Economy

Micron shares rise more than 4% after earnings report

Micron shares rise more than 4% after earnings report”

The share price has gained 123.07% from its 52-week low with a 52-week trading range of $16.17 - $36.60.The company's shares are now trading above their 200-day moving average.

The memory-chip maker has been running strong for the past year, thanks to booming prices of both NAND flash and DRAM memory.

For the current quarter, the company forecast, in a separate table at the bottom of its 8-K filing, revenue in a range of $6.1 billion to $6.5 billion, and EPS in a range of $2.09 to $2.23, above the consensus for $6.06 billion and $1.84.

What's more, the stock's 50-day moving average of $31.03 is greater than its 200-day moving average of $29.54. Average selling prices of NAND jumped 5 percent in the latest reported quarter.

CEO Sanjay Mehrotra called the results "exceptional", crediting "solid execution and robust demand for our memory and storage solutions". Earnings, adjusted for one-time gains and costs, came to $2.02 per share.

Net income attributable to Micron was $2.37 billion, or $1.99 per share, in the quarter ended August 31, compared with a loss of $170 million, or 16 cents per share, a year earlier.

Micron's compute and networking business unit (CNBU), which accounted for about 46 percent of the company's total fourth-quarter revenue, reported a 7 percent rise in revenue.

The company's net sales jumped 90.8 percent to $6.14 billion. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.



Like this

Latest


27 September 2017
Lazard Asset Management LLC Acquires Shares of 1578371 lululemon athletica inc. (LULU)
Winslow Asset Management Inc increased Lululemon Athletica In Com (LULU) stake by 103.66% reported in 2017Q2 SEC filing. The difference between the expected and actual EPS was $0.04/share, which represents an Earnings surprise of 11.4%.

27 September 2017
EPS for Greenhill & Co., Inc. (GHL) Expected At $
The stock of Greenhill & Co., Inc. (NYSE:GHL) announced a quarterly dividend on Friday, July 28th, Wall Street Journal reports. Scorpio Tankers Inc now has $989.17M valuation. (NYSE:STNG) has declined 23.80% since September 26, 2016 and is downtrending.

27 September 2017
Steelers should have been on field during anthem — Ben Roethlisberger
They wish the rest of the team would have followed suit. "Al thought we were standing with him so there was no division there". In response, several NFL teams chose to remain in their locker rooms or kneel during the song before the NFL games on Sunday.

27 September 2017
Pulling The Plug On Free Speech Week
The upheavel surrounding the university and its alleged take on free speech drew mixed reactions from students. The group is slated to asseble at 2 p.m.at Sproul Plaza before marching to an undisclosed location.

27 September 2017
Astrazeneca PLC (NYSE:AZN) Position Raised by Teachers Advisors LLC
Looking at a shorter time period, shares have been seen -12.06% away from the 50 day high and 2.24% off the 50 day low price. Liberum Capital lowered Astrazeneca PLC from a buy rating to a hold rating in a research note on Thursday, September 14th.

27 September 2017
Bustling Stock in Focus: Novavax, Inc. (NASDAQ:NVAX)
After a recent check, the 14-day RSI is now at 60.46, the 7-day stands at 64.18, and the 3-day is sitting at 63.71. Trading volume for Novavax, Inc. was 11.47 Million in its previous trading session. (NasdaqGS:NVAX) is -0.356289.

27 September 2017
PM Modi meets US Defence Secretary James Mattis
India had condemned the nuclear test conducted by North Korea early in September. He also welcomed India's contribution in war-torn Afghanistan.

27 September 2017
Nike Sides With NFL Players In Protest Dispute
He brings another playmaker to the team who can get guys involved, and make plays, and also just has a great basketball mind. Regardless of social media even more players and owners took part in anthem protests. "It's disappointing times.

27 September 2017
Drilling Down Into Fairmount Santrol Holdings Inc. (FMSA)
The expected future growth in earnings per share ("EPS") is an incredibly important factor.in identifying an under-valued stock. The technical movement for the stock has also been interesting for traders trying to understand what the stock is all about.

27 September 2017
Lynx hold off Sparks rally to win Game 2 of WNBA Finals
Yes, as expected, Monday's film review of Game 1 of the WNBA finals was what you might have expected it to be for the Lynx . And it's just unacceptable. "It suggests to me that maybe we're playing against a team that wants to win maybe more than us.



Recommended