Wall Street brokerages expect Micron Technology, Inc. (NASDAQ: MU) to post earnings per share (EPS) of $ 2.10 for the current quarter, Zacks Investment Research reports. Six analysts have released earnings estimates for Micron Technology. The lowest EPS estimate is $ 2.10 and the highest is $ 2.12. Micron Technology posted earnings per share of $ 0.78 in the same quarter last year, which would indicate a positive year-over-year growth rate of 169.2%. The company is expected to report its next results on Thursday, January 6.
On average, analysts predict that Micron Technology will report annual earnings of $ 8.84 per share for the current fiscal year, with EPS estimates ranging from $ 7.43 to $ 9.84. For the next fiscal year, analysts predict the company will post earnings of $ 10.50 per share, with EPS estimates ranging from $ 7.89 to $ 11.60. Zacks Investment Research’s BPA calculations are an average based on a survey of seller-side research companies that cover Micron Technology.
Micron Technology (NASDAQ: MU) last released its quarterly results on Monday, September 27. The semiconductor maker reported earnings per share of $ 2.42 for the quarter, beating the Zacks’ consensus estimate of $ 2.33 by $ 0.09. Micron Technology had a net margin of 16.20% and a return on equity of 12.60%. The company posted revenue of $ 8.27 billion for the quarter, compared to analysts’ estimates of $ 8.21 billion. During the same period of the previous year, the company posted EPS of $ 1.00. The company’s revenue for the quarter increased 36.6% year-over-year.
Several equity research analysts weighed on the stock. Wedbush lowered its target price on Micron Technology shares from $ 105 to $ 85 and set a “neutral” rating for the company in a research note on Wednesday, September 29. Mizuho lowered his price target on Micron Technology shares from $ 107.00 to $ 97.00 and set a “buy” rating for the company in a report released on Friday, September 24. BMO Capital Markets reduced its target price on Micron Technology shares from $ 110.00 to $ 105 and established an “outperformance” rating for the company in a report released on Friday, September 24. Cleveland Research downgraded Micron Technology’s stock from a “buy” rating to a “neutral” rating in a report released on Friday, June 18. Finally, Raymond James lowered his price target for Micron Technology shares from $ 120.00 to $ 100.00 and established a “strong buy” rating for the company in a report released on Monday, September 27. Six equity research analysts gave the stock a conservation rating, twenty-four assigned a buy rating, and two gave the company a high buy rating. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $ 107.60.
The NASDAQ MU opened at $ 70.12 on Friday. The company has a debt to equity ratio of 0.15, a quick ratio of 2.57, and a current ratio of 3.40. The company’s 50-day average mobile price is $ 73.58, and its 200-day average mobile price is $ 79.67. Micron Technology has a 52-week low of $ 49.30 and a 52-week high of $ 96.96. The company has a market cap of $ 78.94 billion, a PE ratio of 19.32, a P / E / G ratio of 0.49, and a beta of 1.27.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 18. Shareholders of record on Friday October 1 will receive a dividend of $ 0.10 per share. This represents an annualized dividend of $ 0.40 and a return of 0.57%. The ex-dividend date for this dividend is Thursday, September 30. Micron Technology’s dividend payout ratio (DPR) is currently 15.69%.
Meanwhile, CFO David Zinsner sold 8,050 shares in a trade on Monday August 16. The shares were sold at an average price of $ 70.59, for a total trade of $ 568,249.50. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this link. In addition, Executive Vice President April S. Arnzen sold 8,300 shares in a trade on Friday, September 24. The stock was sold for an average price of $ 73.32, for a total trade of $ 608,556.00. Disclosure of this sale can be found here. Insiders sold a total of 39,352 shares of the company valued at $ 2,940,027 during the last quarter. 0.30% of the shares are currently held by insiders of the company.
Institutional investors have recently changed their positions in the company. Verition Fund Management LLC increased its position in Micron Technology by 326.8% during the 1st quarter. Verition Fund Management LLC now owns 263,769 shares of the semiconductor maker worth $ 23,267,000 after purchasing an additional 201,972 shares in the last quarter. National Pension Service increased its stake in Micron Technology shares by 2.0% in the first quarter. National Pension Service now owns 1,626,273 shares of the semiconductor maker valued at $ 143,454,000 after purchasing an additional 31,758 shares in the last quarter. X Square Capital LLC increased its stake in Micron Technology shares by 2.3% in the 1st quarter. X Square Capital LLC now owns 81,095 shares of the semiconductor maker valued at $ 7,153,000 after buying 1,850 more shares in the last quarter. Montag & Caldwell LLC increased its stake in Micron Technology shares by 16.4% in the 2nd quarter. Montag & Caldwell LLC now owns 426,935 shares of the semiconductor maker valued at $ 36,281,000 after purchasing an additional 60,125 shares in the last quarter. Finally, FIL Ltd increased its stake in Micron Technology shares by 1.3% in the 1st quarter. FIL Ltd. now owns 2,388,050 shares of the semiconductor maker valued at $ 210,649,000 after purchasing an additional 29,979 shares last quarter. Institutional investors hold 78.34% of the company’s shares.
About Micron technology
Micron Technology, Inc is committed to providing 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 Integrated Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold in the cloud server, enterprise, client, graphics and networking markets.
Further Reading: Should You Consider An Index Fund?
Get a Free Copy of Zacks’ Micron Technology (MU) Research Report
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by narrative science technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Micron Technology now?
Before you consider Micron technology, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Micron Technology was not on the list.
While Micron Technology currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here