Equities research analysts expect Micron Technology, Inc. (NASDAQ:MU – Get Rating) to post earnings per share of $2.45 for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Micron Technology’s earnings. The lowest EPS estimate is $2.40 and the highest is $2.46. Micron Technology posted earnings per share of $1.88 in the same quarter last year, which suggests a positive year-over-year growth rate of 30.3%. The business is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.
On average, analysts expect that Micron Technology will report full-year earnings of $9.54 per share for the current fiscal year, with EPS estimates ranging from $9.08 to $9.73. For the next year, analysts expect that the company will post earnings of $11.67 per share, with EPS estimates ranging from $8.06 to $12.74. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Micron Technology.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.20. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis.
A number of brokerages have recently weighed in on MU. Morgan Stanley boosted their price objective on shares of Micron Technology from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, March 30th. StockNews.com lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, June 3rd. Mizuho boosted their price objective on shares of Micron Technology from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Wedbush raised shares of Micron Technology from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $120.00 in a report on Monday, February 14th. Finally, Piper Sandler lowered shares of Micron Technology from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $90.00 to $70.00 in a report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $112.12.
In related news, SVP April S. Arnzen sold 5,600 shares of the company’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $76.00, for a total transaction of $425,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MU. OLD Mission Capital LLC purchased a new stake in Micron Technology during the 3rd quarter valued at about $251,000. New World Advisors LLC purchased a new stake in Micron Technology during the 3rd quarter valued at about $339,000. Cohen & Steers Inc. grew its stake in Micron Technology by 23.2% during the 3rd quarter. Cohen & Steers Inc. now owns 11,112 shares of the semiconductor manufacturer’s stock valued at $789,000 after acquiring an additional 2,089 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in Micron Technology by 7.2% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 10,782 shares of the semiconductor manufacturer’s stock valued at $765,000 after acquiring an additional 728 shares in the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in Micron Technology during the 3rd quarter valued at about $333,000. Hedge funds and other institutional investors own 80.35% of the company’s stock.
Shares of MU opened at $68.60 on Thursday. The firm has a market capitalization of $76.60 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 2.33. Micron Technology has a 1-year low of $65.67 and a 1-year high of $98.45. The company’s fifty day moving average price is $71.21 and its 200-day moving average price is $80.88.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Monday, April 11th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, April 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.58%. Micron Technology’s dividend payout ratio (DPR) is presently 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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