Micron Technology, Inc. (MU) Expected to Earn Q2 2018 Earnings of $2.69 Per Share

Micron Technology, Inc. (NASDAQ:MU) – Stock analysts at KeyCorp upped their Q2 2018 EPS estimates for shares of Micron Technology in a report issued on Monday. KeyCorp analyst W. Twigg now forecasts that the semiconductor manufacturer will post earnings per share of $2.69 for the quarter, up from their prior estimate of $2.58. KeyCorp currently has a “Overweight” rating and a $53.00 target price on the stock. KeyCorp also issued estimates for Micron Technology’s Q3 2018 earnings at $2.56 EPS, Q4 2018 earnings at $2.43 EPS, FY2018 earnings at $10.10 EPS, Q1 2019 earnings at $2.47 EPS, Q2 2019 earnings at $2.41 EPS, Q3 2019 earnings at $2.40 EPS, Q4 2019 earnings at $2.38 EPS and FY2019 earnings at $9.66 EPS.

Several other equities analysts also recently weighed in on the company. Mizuho reissued a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Micron Technology in a research report on Tuesday. Morgan Stanley cut their price objective on Micron Technology from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC raised Micron Technology from a “buy” rating to a “strong-buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday. UBS Group downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, BidaskClub downgraded Micron Technology from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and a consensus target price of $55.80.

Micron Technology (NASDAQ:MU) opened at $43.88 on Wednesday. The firm has a market capitalization of $45,558.82, a P/E ratio of 6.91, a PEG ratio of 0.40 and a beta of 1.62. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. Micron Technology has a 12-month low of $22.64 and a 12-month high of $49.89.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Institutional investors have recently added to or reduced their stakes in the business. SevenBridge Financial Group LLC raised its stake in Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after buying an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC raised its stake in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares during the last quarter. Krilogy Financial LLC raised its stake in Micron Technology by 1,087.5% in the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 4,350 shares during the last quarter. Finally, MPS Loria Financial Planners LLC acquired a new position in shares of Micron Technology in the second quarter valued at about $142,000. Institutional investors own 81.05% of the company’s stock.

In related news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the sale, the director now directly owns 116,699 shares in the company, valued at approximately $4,829,004.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The disclosure for this sale can be found here. Insiders have sold a total of 158,720 shares of company stock valued at $6,782,100 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

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About Micron Technology

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

Earnings History and Estimates for Micron Technology (NASDAQ:MU)

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