NEW YORK (TheStreet) -- Shares of Micron Technology Inc (MU) were down 0.86% to $24.28 in early afternoon trading Wednesday, one day ahead of the semiconductor company's third quarter earnings, due out after closing bell on Thursday.
For the quarter, the company is expected to earn 57 cents per share on revenue of $3.91 billion, according to analysts polled by Thomson Reuters.
Both the top and bottom line are expected to fall compared to a year ago.
In the same period of last year, the company earned 79 cents per share on sales of $3.98 billion.
Boise, Idaho-based Micron Technology is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
Separately, TheStreet Ratings team rates MICRON TECHNOLOGY INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow."