$2.15 EPS Expected for Micron Technology, Inc. (MU) This Quarter
Equities analysts expect Micron Technology, Inc. (NASDAQ:MU) to announce $2.15 earnings per share for the current quarter, according to Zacks. Six analysts have made estimates for Micron Technology’s earnings, with the highest EPS estimate coming in at $2.20 and the lowest estimate coming in at $2.10. Micron Technology reported earnings per share of $0.32 in the same quarter last year, which indicates a positive year over year growth rate of 571.9%. The business is scheduled to announce its next quarterly earnings results on Wednesday, December 20th.
According to Zacks, analysts expect that Micron Technology will report full-year earnings of $7.44 per share for the current financial year, with EPS estimates ranging from $7.12 to $7.76. For the next fiscal year, analysts expect that the company will report earnings of $5.99 per share, with EPS estimates ranging from $2.96 to $7.21. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Micron Technology.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. Micron Technology’s revenue was up 90.8% compared to the same quarter last year.
Several research firms have issued reports on MU. Stifel Nicolaus reissued a “buy” rating and set a $64.00 target price on shares of Micron Technology in a research note on Wednesday. Nomura reissued a “buy” rating and set a $45.00 target price on shares of Micron Technology in a research note on Wednesday. Barclays PLC reissued an “overweight” rating and set a $60.00 target price (up previously from $40.00) on shares of Micron Technology in a research note on Thursday. BMO Capital Markets upgraded Micron Technology from a “no rating at time” rating to a “market perform” rating and set a $43.00 price target for the company in a research report on Monday. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $43.00 price target on shares of Micron Technology in a research report on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $45.05.
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In other news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the sale, the senior vice president now owns 289,940 shares of the company’s stock, valued at approximately $11,046,714. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total value of $28,220.00. Following the sale, the senior vice president now directly owns 50,542 shares in the company, valued at approximately $1,426,295.24. The disclosure for this sale can be found here. Insiders sold a total of 287,465 shares of company stock worth $10,620,575 in the last ninety days. 0.69% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in shares of Micron Technology during the 2nd quarter worth approximately $107,000. Guardian Life Insurance Co. of America boosted its stake in shares of Micron Technology by 0.3% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after acquiring an additional 13 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Micron Technology during the 2nd quarter worth approximately $141,000. Krilogy Financial LLC boosted its stake in shares of Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after acquiring an additional 4,350 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in shares of Micron Technology during the 2nd quarter worth approximately $142,000. 79.29% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology (MU) traded down 1.92% during trading on Thursday, reaching $40.81. The company had a trading volume of 48,018,110 shares. The firm has a market capitalization of $45.26 billion, a price-to-earnings ratio of 9.25 and a beta of 1.82. The company’s 50-day moving average is $35.35 and its 200 day moving average is $30.96. Micron Technology has a 52 week low of $16.17 and a 52 week high of $42.07.
Micron Technology Company Profile
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