Q: Two questions, deduct accordingly. What is the consensus for MU and regarding VLE, with the stock dropping regularly these days, why wouldn't they do a stock buy back at these prices with the cash at hand. Please give your opinion on VLE. Thanks
5i Research Answer:
MU is expected to report EPS of 50c and revenue of $6.66B. On VLE, one could argue for a buyback with the stock so cheap. But it is up 65% YTD, and the company may simply want to keep its financial options open for further drilling and/or acquisitions. The stock is up 147% in a year and management is not likely too concerned with the recent decline after the big run.