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Micron Technology, Inc. (NASDAQ:MU) Expected to Announce Earnings of $2.45 Per Share

Equities research analysts expect that Micron Technology, Inc. (NASDAQ:MUGet Rating) will report earnings of $2.45 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Micron Technology’s earnings, with estimates ranging from $2.40 to $2.46. Micron Technology posted earnings of $1.88 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 30.3%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Micron Technology will report full year earnings of $9.54 per share for the current financial year, with EPS estimates ranging from $9.08 to $9.73. For the next fiscal year, analysts anticipate that the business will post earnings of $11.67 per share, with EPS estimates ranging from $8.06 to $12.74. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Micron Technology.

Micron Technology (NASDAQ:MUGet Rating) last posted its earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.20. The firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.53 billion. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. Micron Technology’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS.

A number of analysts have recently commented on the company. Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a report on Wednesday, March 16th. Susquehanna restated a “buy” rating and set a $115.00 price objective on shares of Micron Technology in a report on Monday. StockNews.com downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Mizuho increased their price target on Micron Technology from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 price target on shares of Micron Technology in a report on Wednesday, March 30th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $112.92.

In other Micron Technology news, SVP April S. Arnzen sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $76.00, for a total value of $425,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in MU. Capital World Investors boosted its position in shares of Micron Technology by 84.5% during the 4th quarter. Capital World Investors now owns 27,419,458 shares of the semiconductor manufacturer’s stock valued at $2,554,123,000 after acquiring an additional 12,554,989 shares in the last quarter. Norges Bank bought a new position in shares of Micron Technology in the fourth quarter worth about $1,052,794,000. Capital Research Global Investors raised its stake in shares of Micron Technology by 38.8% during the third quarter. Capital Research Global Investors now owns 24,545,270 shares of the semiconductor manufacturer’s stock worth $1,742,232,000 after buying an additional 6,862,615 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Micron Technology by 558.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,777,963 shares of the semiconductor manufacturer’s stock worth $636,395,000 after buying an additional 5,748,883 shares during the last quarter. Finally, Sanders Capital LLC increased its stake in Micron Technology by 9.5% in the third quarter. Sanders Capital LLC now owns 40,391,375 shares of the semiconductor manufacturer’s stock valued at $3,138,904,000 after purchasing an additional 3,492,076 shares in the last quarter. Institutional investors and hedge funds own 80.35% of the company’s stock.

Shares of MU opened at $71.05 on Thursday. The company has a market capitalization of $79.34 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 0.24 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11. The stock has a fifty day moving average of $73.26 and a two-hundred day moving average of $81.30. Micron Technology has a fifty-two week low of $65.67 and a fifty-two week high of $98.45.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Monday, April 11th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, April 8th. This represents a $0.40 annualized dividend and a yield of 0.56%. Micron Technology’s dividend payout ratio (DPR) is 5.03%.

Micron Technology Company Profile (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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