Chips · Stock report · Micron Technology (NASDAQ: MU)
Micron — moved 11% on average after its last ten reports; this time it sits inside the band, verdict Monday
The Closelooknet read
Micron Technology (NASDAQ: MU) rarely sits still after its numbers. On our Print Record, the house log of how a stock reacts to each report, it moved 11.3% on average, in either direction, in the three sessions after each of its last ten reports, and none of them stayed within 3%: four rose by more than 3% and six fell by more than 3%. This time it reported after Wednesday's close of $1,065.11, which is the starting line, and rose less than 0.5% after hours. On Friday it closed at $1,074.89. The three-session window closes on Monday, 5 October: a close at $1,097.06 or higher counts as a positive reaction ("paid" on our record), a close under $1,033.16 as a negative one ("sold"). We watch whether it ends between the two lines, which would be the first time in ten reports.
Where Micron stands among 85 chip stocks
Over the past month Micron gained 12.4%, which ranks 53rd of the 85 stocks in our chip section. Its memory peers in Seoul sit further below their highs: SK hynix (000660.KS) rose 8.7% over the month and is 36.9% below its June high, while Samsung Electronics (005930.KS) rose 5.8% and is 23.9% below. Micron is 11.4% below its 25 June closing high of $1,213.56. We watch whether the Seoul names close that gap, or whether Micron keeps the smaller gap on its own.
Our money-flow and quality readings
Our money-flow reading (a gauge of net buying pressure) is still positive but slowing, with a value of 182.1. On our scores Micron rates 71 of 100 overall, with quality at 88, growth at 85 and balance sheet at 80, while valuation (48) and capital allocation (23) are the weak spots. The Piotroski score, a check of financial health, is scored 8 of 9.
The reported numbers
Fiscal fourth-quarter revenue was $54.23 billion against roughly $51.07 billion expected, up from $41.46 billion in the prior quarter and $11.32 billion a year ago. Adjusted EPS was $33.42 against $31.52, and the adjusted gross margin was about 87%. The guide for the quarter to November is $61.5 billion, plus or minus $1.5 billion, with a gross margin of about 86.25%. After hours the stock rose less than 0.5%.
Price trend
Micron closed Friday at $1,074.89 and is up 276.6% this year. It trades 12.4% above its 50-day average and 57.7% above its 200-day average, the average close of the last 200 sessions. Its typical daily swing is about 4.8%. Analysts' average target is $1,554, 41.6% above the last close, with 58 buy, 10 hold and 2 sell ratings.
Closelooknet is a research diary. Nothing here is investment advice or a recommendation to buy or sell.