Brokerages expect Micron Technology, Inc. (NASDAQ:MU) to post sales of $6.35 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Micron Technology’s earnings, with the lowest sales estimate coming in at $6.30 billion and the highest estimate coming in at $6.49 billion. Micron Technology posted sales of $3.97 billion in the same quarter last year, which suggests a positive year over year growth rate of 59.9%. The firm is scheduled to announce its next earnings results on Wednesday, December 20th.

On average, analysts expect that Micron Technology will report full year sales of $6.35 billion for the current financial year, with estimates ranging from $23.30 billion to $24.47 billion. For the next financial year, analysts anticipate that the firm will post sales of $24.65 billion per share, with estimates ranging from $22.80 billion to $25.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Micron Technology.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same period in the prior year, the business earned ($0.01) earnings per share. Micron Technology’s quarterly revenue was up 90.8% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Cowen and Company reaffirmed a “buy” rating and set a $50.00 price target on shares of Micron Technology in a report on Wednesday. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) raised shares of Micron Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $33.00 to $40.00 in a report on Tuesday, September 12th. Susquehanna Bancshares Inc lifted their price target on shares of Micron Technology from $40.00 to $50.00 and gave the company a “positive” rating in a report on Tuesday, September 19th. Finally, UBS AG reaffirmed a “buy” rating and set a $53.00 price target (up from $39.50) on shares of Micron Technology in a report on Thursday, October 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $46.57.

In related news, CFO Ernest E. Maddock bought 3,400 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the transaction, the chief financial officer now directly owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the transaction, the senior vice president now owns 289,940 shares in the company, valued at approximately $11,046,714. The disclosure for this sale can be found here. Insiders sold a total of 330,415 shares of company stock worth $12,468,675 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. lifted its position in shares of Micron Technology by 1.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $457,000 after acquiring an additional 154 shares during the period. Honkamp Krueger Financial Services Inc. lifted its position in shares of Micron Technology by 0.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock valued at $1,556,000 after acquiring an additional 221 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Micron Technology by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock valued at $2,307,000 after acquiring an additional 367 shares during the period. Parallel Advisors LLC lifted its position in shares of Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock valued at $232,000 after acquiring an additional 369 shares during the period. Finally, Advisor Partners LLC lifted its position in shares of Micron Technology by 1.5% during the 2nd quarter. Advisor Partners LLC now owns 24,638 shares of the semiconductor manufacturer’s stock valued at $736,000 after acquiring an additional 372 shares during the period. Institutional investors own 77.14% of the company’s stock.

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