Micron Technology Inc. (NASDAQ: MU) will report its first-quarter earnings Tuesday after the market closes. Thomson Reuters has consensus estimates of $0.92 in earnings per share and $4.62 billion in revenue. The first quarter from the previous year had $0.77 in earnings per share and $4.04 billion in revenue.

Micron has had an outstanding 2014, and it is now a giant in both DRAM and flash memory, due to its acquisition of Elpida Memory in July 2013. The stock is currently screened as a value stock rather than massive turnaround and growth stock, as sales growth is slowing handily. Micron was among the companies that were selected by Credit Suisse for its U.S. Focus List, which the analysts expect to have average gains of 40% to 50%.

Micron is currently testing its 50-day moving average. However, in the last two instances where the moving average was been tested, in mid-November and mid-December, it has acted as strong support and as a result there has been a handy bounce.

24/7 Wall St. decided to add in a few analyst calls that have been recently made about Micron:

• Piper Jaffray maintained a Buy rating and raised its price target to $44 from $43 on December 30.
• Nomura maintained a Buy rating and raised its price target to $45 from $40 on December 16.
• J.P. Morgan maintained an Overweight rating and raised its price target to $41 from $36 on December 1.

Shares of Micron last traded at $33.92 in the last hour of Monday’s trading session. The company’s stock has a consensus analyst price target of $42.35 and a 52-week trading range of $20.64 to $36.59. The market cap is $36.27 billion. It is also worth noting that at current prices the stock is still trading at less than nine times future earnings.

ALSO READ: Old-School Tech Stocks Among Analyst’s Top Picks for 2015.

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