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EPS Estimates for Micron Technology Improved In Last Month

This article is more than 9 years old.

In the month leading up to the Micron Technology's third quarter earnings announcement slated for Monday, June 23, 2014, expectations have risen for the upcoming results. The consensus analyst estimate has gone from 69 cents per share to the current projection of earnings of 71 cents per share.

Over the past three months, the consensus estimate has risen from 61 cents. For the fiscal year, analysts are projecting earnings of $3.10 per share. Revenue is projected to be 68% above the year-earlier total of $2.32 billion at $3.89 billion for the quarter. For the year, revenue is projected to roll in at $16.05 billion.

Revenue rose in each of the last three quarters. In the second quarter, revenue rose 77% to $4.11 billion while the figure rose more than twofold in the first quarter from the year earlier and 45% in the fourth quarter.

The majority of analysts (70%) rate Micron as a buy. This compares favorably to the analyst ratings of eight similar companies, which average 62% buys.

Micron Technology is a global manufacturer and marketer of Flash memory, image sensors and other semiconductor components. Intel, also in the semiconductors industry, will report earnings on Tuesday, July 15, 2014. Analysts are expecting earnings of $0.52 per share for Intel, up 33% from last year's earnings of $0.39 per share. Other companies in the semiconductors industry with upcoming earnings release dates include: MoSys, GSI Technology and Integrated Device Technology.

Earnings estimates provided by Zacks.

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