Earnings Review - Micron Technology

LONDON, September 30, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings review on Micron Technology Inc. (NASDAQ: MU). The company featured in headlines on September 25, 2014 after reporting its fourth quarter and full year 2014 financial results for the period ended August 28, 2014. Click here www.investor-edge.com/register  to download our free earnings review on Micron. During Q4 FY14, Micron Technology Inc.'s revenue surged 49% Y-o-Y. Further, the company's FY14 GAAP net income attributable to its shareholders increased $1.41 per diluted share from FY13, while for Q4 FY14 GAAP net income attributable to Micron Technology Inc.'s shareholders fell by $0.55 from the previous year. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview  

Micron Technology Inc.'s Q4 FY14 revenue increased to $4.23 billion from $2.84 billion in the preceding year quarter. The company's gross margin during Q4 FY14 improved to 1.39 billion from 708 million in Q4 FY13. However, on a GAAP basis, the net income attributable to Micron shareholders during Q4 FY14 narrowed to $1.15 billion or $0.96 per diluted share from $1.71 billion, or $1.51 per diluted share in Q4 FY13. On a non-GAAP basis, the company's net income attributable to its shareholders during Q4 FY14 stood at $961 million or $0.82 per diluted share. The free research on MU can be downloaded as in PDF format at:

www.Investor-Edge.com/MUFreeReport

For full year FY14, the company's revenue rose to $16.36 billion, from $9.07 billion in the previous year. Analysts from Bloomberg were expecting the company to report full year FY14 revenues of $16.29 billion. The company's gross margin during FY14 increased to 5.44 billion from 1.85 billion in the prior year. During FY14, the company's GAAP net income surged to $3.05 billion, or $2.54 per diluted share, from $1.19 billion, or $1.13 per diluted share in FY13. Micron Technology's FY14 net income exceeded Bloomberg analysts' expectations of $2.80 billion, or $2.51 per diluted share.

The company's cash flow from operations for FY14 ended August 28, 2014 stood at $5.70 billion, compared with $1.81 billion for the FY13 ended on August 29, 2013. Further, Micron Technology's cash and marketable investments at the end of Q4 FY14 stood at $5.35 billion.

Mark Durcan, CEO of Micron Technology, stated that he was pleased with the company's performance that resulted in record revenue and earnings for the year. According to him, continued favorable market conditions and steady execution led to increases in sales volumes and another quarter of strong operating margins and earnings per share. Sign up and read the free analyst's notes on MU at:

www.Investor-Edge.com/MU-30092014

Stock Performance  

A day after the earnings release, on September 26, 2014, shares in Micron Technology Inc. surged 6.72%, ending the session at $33.83. The stock recorded a new 52-week high of $34.85 in the last trading session, Monday, September 29, 2014, before finishing the session at $34.50, which was 1.98% above its previous day's closing price. A total of 33.94 million shares were traded, significantly above its three months average volume of 24.25 million shares. Over the previous three trading sessions and over the last one month, the company's shares have gained 7.08% and 5.83%, respectively. Moreover, the stock has rallied 58.62% from the beginning of 2014. Shares in Micron Technology Inc. are trading above their 50-day and 200-day moving averages of $32.05 and $27.40, respectively. Furthermore, the stock traded at a PE ratio of 12.53 and has a Relative Strength Index (RSI) of 59.42. Visit Investor-Edge and access the latest research on MU at:

www.Investor-Edge.com/MUEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, Micron Technology Inc. has reported three corporate trading transactions by two insiders. On September 02, 2014, Robert L. Bailey, Independent Director at Micron Technology Inc., sold 2,000 shares of the company, for $63,810 at a price of $31.91 per share. In addition, on September 10, 2014, Ronald C. Foster, CFO & Vice President of Micron Technology Inc., purchased 20,000 shares of the company, worth $149,200 at a price of $7.46 per share, while on the same day he disposed equal number of shares for $637,830 at a price of 31.89 per share. Complimentary in-depth research on MU is available at:

www.Investor-Edge.com/MUInsiderTrading

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