PREVIEW: Micron Technology shares edge up; results due after the bell

Shares of Micron Technology MU.O were up 2% on Tues, with the memory chipmaker seen reporting a big increase in rev and EPS in its qtrly results, due after the closing bell

The stock was bucking the broader trend in the market Tues, with the Nasdaq .IXIC last down 0.3%

Analysts on avg expect MU to report Q4 rev of $11.223 bln vs $7.75 bln a yr ago, and to report earnings of $2.86/shr vs $1.18 a yr ago, according to LSEG

The co has beaten analyst earnings expectations in all of the past eight reporting periods

On August 11, Micron raised its forecast for fourth-quarter revenue and adjusted profit

Analyst recommendations on the stock include 35 "strong buy" or "buy" ratings, eight "hold" ratings and one "sell" recommendation

The median 12-mo PT on MU has been rising in recent weeks and was last at $160 vs $150 on August 23; the stock was last at $167.80

This week, both Morgan Stanley and Stifel raised their PTs on the stock

MU is up about 100% YTD compared with a roughly 17.6% gain in the Nasdaq in that period