NEW YORK (TheStreet) -- Micron Technology (MU) - Get Micron Technology, Inc. (MU) Report stock is rising 4.87% to $12.82 in afternoon trading on Tuesday before the company reports its fiscal 2016 third quarter financial results on Thursday after the closing bell.
The Boise, ID-based semiconductor systems company is expected to deliver a steep year-over-year decline in the top and bottom lines because of weak PC demand, which has affected data storage sales.
Wall Street is anticipating a loss of 9 cents per share on revenue of $2.96 billion for the latest quarter, compared with earnings of 54 cents per share on revenue of $3.85 billion for the same period last year.
"DRAM pricing remained weak in the May Q and while some of this was clearly baked into guidance, we still see risk to numbers," Barclays analysts said in a note released this morning. Analysts believe quarterly revenue will be in line or below estimates.
Deutsche Bank analysts expect a wider-than-expected loss of 14 cents per share for the quarter, below the consensus and the company's guidance for a loss of 5 cents to 12 cents per share.
In a separately note, Deutsche Bank analysts explained "that the EPS guidance was given prior to the company taking on additional debt."
Separately, Micron Technology has a "hold" rating and a letter grade of C at TheStreet Ratings because of the company's reasonable valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures, which offsets feeble earnings per share growth, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: MU
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.