Brokerages Expect Micron Technology, Inc. (NASDAQ:MU) Will Announce Earnings of $1.72 Per Share
Brokerages expect Micron Technology, Inc. (NASDAQ:MU) to announce earnings of $1.72 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Micron Technology’s earnings. The lowest EPS estimate is $1.66 and the highest is $1.78. Micron Technology posted earnings per share of ($0.05) in the same quarter last year, which would indicate a positive year over year growth rate of 3,540%. The company is scheduled to issue its next quarterly earnings results on Tuesday, October 3rd.
According to Zacks, analysts expect that Micron Technology will report full-year earnings of $3.85 per share for the current year, with EPS estimates ranging from $3.58 to $4.15. For the next fiscal year, analysts anticipate that the business will post earnings of $5.20 per share, with EPS estimates ranging from $4.18 to $6.08. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Micron Technology.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.25. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company’s revenue was up 92.2% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share.
Several equities analysts have commented on MU shares. Credit Suisse Group reiterated a “buy” rating on shares of Micron Technology in a research report on Sunday. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 target price on shares of Micron Technology in a research report on Monday, May 1st. Zacks Investment Research downgraded Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research report on Thursday, June 8th. Finally, Deutsche Bank AG increased their target price on Micron Technology from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $35.29.
Shares of Micron Technology (NASDAQ:MU) opened at 30.51 on Thursday. Micron Technology has a 12 month low of $11.50 and a 12 month high of $32.96. The company has a 50-day moving average price of $30.40 and a 200-day moving average price of $26.28. The firm has a market capitalization of $33.87 billion, a price-to-earnings ratio of 13.40 and a beta of 1.78.
In other Micron Technology news, Director Mercedes Johnson sold 27,242 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $27.66, for a total transaction of $753,513.72. Following the transaction, the director now owns 54,533 shares in the company, valued at approximately $1,508,382.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the transaction, the vice president now owns 150,232 shares in the company, valued at approximately $4,807,424. The disclosure for this sale can be found here. Insiders have sold a total of 39,242 shares of company stock worth $1,132,114 in the last quarter. Company insiders own 0.69% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MU. Verde Servicos Internacionais S.A. increased its position in Micron Technology by 41.8% in the second quarter. Verde Servicos Internacionais S.A. now owns 419,061 shares of the semiconductor manufacturer’s stock worth $12,513,000 after buying an additional 123,629 shares during the period. Grassi Investment Management purchased a new position in Micron Technology during the second quarter worth $427,000. Nomura Asset Management Co. Ltd. increased its position in Micron Technology by 123.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,193,941 shares of the semiconductor manufacturer’s stock worth $63,405,000 after buying an additional 1,212,421 shares during the period. TrueNorth Inc. purchased a new position in Micron Technology during the first quarter worth $1,565,000. Finally, Achmea Investment Management B.V. purchased a new position in Micron Technology during the first quarter worth $930,000. Hedge funds and other institutional investors own 79.75% of the company’s stock.
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Micron Technology Company Profile
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