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


Analysts expect Micron Technology, Inc. (NASDAQ:MUGet Rating) to post earnings of $2.45 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued 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 would suggest a positive year-over-year growth rate of 30.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, 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 financial year, analysts anticipate that the company will post earnings of $11.67 per share, with EPS estimates ranging from $8.06 to $12.74. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Micron Technology.

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

A number of equities analysts recently commented on MU shares. Mizuho raised their price objective on shares of Micron Technology from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, March 30th. Morgan Stanley raised their price objective on shares of Micron Technology from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 30th. StockNews.com lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $165.00 target price on shares of Micron Technology in a research note on Wednesday, March 30th. Finally, Wedbush raised shares of Micron Technology from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $100.00 to $120.00 in a research note on Monday, February 14th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $112.92.

Micron Technology stock opened at $71.05 on Thursday. The company has a 50 day moving average price of $73.26 and a 200 day moving average price of $81.30. Micron Technology has a 52 week low of $65.67 and a 52 week high of $98.45. 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 firm has a market capitalization of $79.34 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 0.24 and a beta of 1.18.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Monday, April 11th were issued a $0.10 dividend. 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 presently 5.03%.

In related news, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction 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 filing with the SEC, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.

Several large investors have recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its position in shares of Micron Technology by 144.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Concorde Financial Corp acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $27,000. Selective Wealth Management Inc. acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $28,000. Core Alternative Capital boosted its position in shares of Micron Technology by 912.5% during the 1st quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 365 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. boosted its position in shares of Micron Technology by 600.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 80.35% of the company’s stock.

About Micron Technology (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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Earnings History and Estimates for Micron Technology (NASDAQ:MU)



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