Micron Technology (NASDAQ:MU) issued an update on its fourth quarter 2020
After-Hours earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.95-1.15 for the period, compared to the Thomson Reuters consensus estimate of $0.81. The company issued revenue guidance of $5.75-6.25 billion, compared to the consensus revenue estimate of $5.47 billion.
MU stock traded up $0.66 during midday trading on Monday, reaching $49.15. 22,808,734 shares of the company were exchanged, compared to its average volume of 22,340,930. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.74 and a quick ratio of 1.85. The business has a 50-day moving average price of $48.34 and a two-hundred day moving average price of $50.05. Micron Technology has a one year low of $31.13 and a one year high of $61.19. The firm has a market capitalization of $54.14 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.12 and a beta of 1.61.
A number of equities analysts have commented on MU shares. Goldman Sachs Group cut shares of Micron Technology from a buy rating to a neutral rating and reduced their price objective for the stock from $60.00 to $49.00 in a research report on Monday, April 13th. Barclays reduced their target price on shares of Micron Technology from $70.00 to $60.00 and set an overweight rating for the company in a research report on Thursday, March 26th. Cleveland Research cut shares of Micron Technology from a buy rating to a neutral rating in a research report on Thursday, May 28th. Mizuho reduced their target price on shares of Micron Technology from $65.00 to $60.00 and set a buy rating for the company in a research report on Thursday, March 26th. Finally, Credit Suisse Group reissued a buy rating on shares of Micron Technology in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. Micron Technology has a consensus rating of Buy and a consensus target price of $62.79.
In other Micron Technology news, SVP April S. Arnzen sold 2,542 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $45.00, for a total value of $114,390.00. Following the transaction, the senior vice president now owns 73,054 shares in the company, valued at approximately $3,287,430. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.
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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