Chips · Stock report · Micron Technology (NASDAQ: MU)
Micron — flat after its last report, yet 4 up, 6 down and a 10.2% average move on our Print Record
The Closelooknet read
Micron Technology (NASDAQ: MU) sits mid-table in our chip section: rank 40 of 86 over one month, with the stock down 14.9% in that time. On our Print Record it moved 10.2% on average in either direction in the three sessions after each of its 11 reports: 4 times up more than 3%, 6 times down more than 3%, and once flat, at −0.1% after the September report. Our money-flow reading (a gauge of net buying pressure) is 126.8, still positive but slowing, down 46.5 over 21 days. Today's jump of 11.9% to $811.30 came alongside a close back above the average close of the last 200 sessions, $762.08. We watch whether it holds above that line into the 23 December report, or slips back under it.
Where Micron stands among our chip stocks
Micron ranks 40th of the 86 stocks in our chip section on one-month move. Its two memory peers in Seoul also fell over the month: SK hynix (000660.KS) lost 11.5% and Samsung Electronics (005930.KS) 11.21%. Micron's one-month fall is 14.89%. Year to date SK hynix is up 96.16% and Samsung Electronics 71.81%, against 184.26% for Micron.
Micron is 33.15% below its 25 June closing high of $1,213.56. SK hynix is 56.25% below its 22 June high and Samsung Electronics 43.17% below its 18 June high.
Our money-flow and quality readings
Our money-flow reading is 126.8 and labelled warm, our label for the strength of net buying. Its direction is decelerating-up, which means still positive but slowing: it fell 14.7 over five days and 46.5 over 21 days.
On our scores Micron rates 70 overall. Growth is 98, quality 95 and balance 87, while valuation is 69, cash quality 49, momentum 49 and capital allocation 34. The Piotroski score, a check of financial health, is 8 of 9.
The reported numbers
For the quarter reported in September, revenue was $54.23 billion against roughly $51.07 billion expected, up from $41.46 billion in the quarter before 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 in revenue, plus or minus $1.5 billion, with a gross margin of about 86.25%. The next report is due 23 December, with the Street at $38.11 a share on roughly $61.54 billion.
Price trend and the Street
Micron closed at $811.30 on 11 November, 6.5% above its 200-day average of $762.08 and 14.7% below its 50-day average of $950.53. It opened with a 7.2% gap and its typical daily swing is about 4.2%. It is up 184.3% this year.
The analyst consensus target is $1,589, 119.1% 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.