Zacks: Analysts Anticipate Micron Technology, Inc. (MU) to Post $2.68 EPS

Brokerages expect Micron Technology, Inc. (NASDAQ:MU) to post earnings of $2.68 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Micron Technology’s earnings. The highest EPS estimate is $2.75 and the lowest is $2.54. Micron Technology reported earnings per share of $0.90 in the same quarter last year, which indicates a positive year over year growth rate of 197.8%. The firm is scheduled to issue its next quarterly earnings results on Thursday, March 22nd.

On average, analysts expect that Micron Technology will report full year earnings of $10.13 per share for the current financial year, with EPS estimates ranging from $9.18 to $10.88. For the next fiscal year, analysts forecast that the business will post earnings of $8.67 per share, with EPS estimates ranging from $6.68 to $10.06. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Micron Technology.

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

MU has been the topic of a number of research analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $60.00 price target (up from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. BidaskClub cut Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 price objective on the stock in a report on Wednesday, November 15th. JPMorgan Chase & Co. upped their price objective on Micron Technology to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, December 20th. Finally, Zacks Investment Research cut Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $55.80.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $41.38, for a total value of $124,140.00. Following the completion of the transaction, the director now directly owns 116,699 shares in the company, valued at approximately $4,829,004.62. The disclosure for this sale can be found here. Insiders sold a total of 173,470 shares of company stock worth $7,420,480 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. SevenBridge Financial Group LLC grew its position in shares of Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after buying an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. grew its position in shares of Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares in the last quarter. Intrust Bank NA grew its position in shares of Micron Technology by 9.0% during the 4th quarter. Intrust Bank NA now owns 15,287 shares of the semiconductor manufacturer’s stock worth $629,000 after buying an additional 1,264 shares in the last quarter. First Republic Investment Management Inc. grew its position in shares of Micron Technology by 12.5% during the 3rd quarter. First Republic Investment Management Inc. now owns 11,960 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 1,329 shares in the last quarter. Finally, Buffington Mohr McNeal grew its position in shares of Micron Technology by 2.2% during the 3rd quarter. Buffington Mohr McNeal now owns 63,648 shares of the semiconductor manufacturer’s stock worth $2,600,000 after buying an additional 1,400 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Micron Technology (MU) opened at $43.45 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. Micron Technology has a twelve month low of $22.64 and a twelve month high of $49.89. The company has a market capitalization of $50,240.00, a P/E ratio of 6.84, a P/E/G ratio of 0.42 and a beta of 1.62.

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Micron Technology Company Profile

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.

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

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