$7.02 Billion in Sales Expected for Micron Technology, Inc. (MU) This Quarter

Equities research analysts expect Micron Technology, Inc. (NASDAQ:MU) to announce sales of $7.02 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Micron Technology’s earnings. The lowest sales estimate is $7.00 billion and the highest is $7.07 billion. Micron Technology reported sales of $4.65 billion in the same quarter last year, which would suggest a positive year over year growth rate of 51%. The company is expected to announce its next quarterly earnings report on Thursday, March 22nd.

On average, analysts expect that Micron Technology will report full-year sales of $7.02 billion for the current fiscal year, with estimates ranging from $26.80 billion to $28.73 billion. For the next fiscal year, analysts expect that the business will report sales of $28.26 billion per share, with estimates ranging from $25.70 billion to $31.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Micron Technology.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The firm’s revenue was up 71.4% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on MU shares. Vetr lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price on the stock. in a research note on Friday, November 17th. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Deutsche Bank restated a “buy” rating and issued a $42.00 target price (up previously from $37.00) on shares of Micron Technology in a research note on Wednesday, September 20th. Needham & Company LLC restated a “buy” rating on shares of Micron Technology in a research note on Wednesday, September 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.33.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares in the company, valued at approximately $5,225,670.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,720 shares of company stock valued at $8,046,240. Insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. SevenBridge Financial Group LLC grew its position in Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares during the last quarter. Captrust Financial Advisors bought a new position in Micron Technology in the 2nd quarter worth about $107,000. Salem Investment Counselors Inc. grew its position in Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC grew its position in Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Krilogy Financial LLC grew its position in Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 4,350 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.

Shares of Micron Technology (MU) traded down $0.01 during mid-day trading on Friday, reaching $42.81. 28,419,721 shares of the company’s stock were exchanged, compared to its average volume of 45,190,000. Micron Technology has a 52-week low of $21.49 and a 52-week high of $49.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. The firm has a market cap of $49,500.00, a price-to-earnings ratio of 6.74, a P/E/G ratio of 0.44 and a beta of 1.75.

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