Memory chips maker Micron (NYSE: MU) will be reporting results this Wednesday after market close. Here’s what you need to know.

Micron beat analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $11.32 billion, up 46% year on year. It was a strong quarter for the company, with a significant improvement in its inventory levels and a solid beat of analysts’ adjusted operating income estimates.

Is Micron a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Micron’s revenue to grow 48.8% year on year to $12.96 billion, slowing from the 84.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.92 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Micron has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.

With Micron being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for semiconductors stocks. However, there has been positive investor sentiment in the segment, with share prices up 14.6% on average over the last month. Micron is down 2.5% during the same time and is heading into earnings with an average analyst price target of $253.19 (compared to the current share price of $235.75).

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.