Micron Technology (NASDAQ:MU) updated its third quarter 2020
After-Hours earnings guidance on Wednesday. The company provided EPS guidance of 0.40-0.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.53. The company issued revenue guidance of $4.6-5.2 billion, compared to the consensus revenue estimate of $4.87 billion.
A number of equities analysts recently issued reports on the company. Nomura increased their price objective on Micron Technology from $40.00 to $45.00 and gave the company a neutral rating in a report on Thursday, December 19th. Morgan Stanley decreased their price objective on Micron Technology from $73.00 to $52.50 and set an overweight rating for the company in a report on Wednesday, March 18th. Citigroup increased their price target on Micron Technology from $35.00 to $38.00 and gave the stock a sell rating in a report on Thursday, December 19th. Needham & Company LLC reaffirmed a buy rating and set a $70.00 price target on shares of Micron Technology in a report on Friday, January 31st. Finally, Piper Jaffray Companies increased their price target on Micron Technology from $46.00 to $56.00 and gave the stock a neutral rating in a report on Thursday, December 19th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $62.74.
Shares of NASDAQ MU traded down $0.77 during midday trading on Wednesday, hitting $42.50. The stock had a trading volume of 53,658,587 shares, compared to its average volume of 28,901,023. The company has a market capitalization of $47.10 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.76 and a beta of 1.78. Micron Technology has a 1-year low of $31.13 and a 1-year high of $61.19. The company has a quick ratio of 1.78, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $50.85 and a 200 day moving average price of $50.15.
In related news, SVP April S. Arnzen sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $60.00, for a total transaction of $264,000.00. Following the completion of the transaction, the senior vice president now owns 83,880 shares in the company, valued at approximately $5,032,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joel L. Poppen sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $56.97, for a total value of $1,139,400.00. Following the transaction, the senior vice president now owns 301,395 shares of the company’s stock, valued at approximately $17,170,473.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,800 shares of company stock worth $1,644,300. Company insiders own 0.18% of the company’s stock.
Micron Technology Company Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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