Micron Technology (NASDAQ:MU – Get Rating) is set to release its earnings data after the market closes on Wednesday, June 28th. Analysts expect Micron Technology to post earnings of ($1.71) per share for the quarter. Micron Technology has set its Q3 guidance at $(1.65)-$(1.51) EPS.Parties interested in registering for the company’s conference call can do so using this link.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($1.16). Micron Technology had a return on equity of 3.98% and a net margin of 6.99%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the business earned $2.05 earnings per share. Micron Technology’s revenue for the quarter was down 52.6% on a year-over-year basis. On average, analysts expect Micron Technology to post $-5 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Micron Technology Price Performance
Micron Technology stock opened at $66.90 on Wednesday. Micron Technology has a 12-month low of $48.43 and a 12-month high of $74.77. The stock has a market capitalization of $72.99 billion, a P/E ratio of 48.13 and a beta of 1.39. The firm’s 50-day moving average is $64.87 and its two-hundred day moving average is $59.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.17 and a quick ratio of 2.62.
Micron Technology Dividend Announcement
Wall Street Analysts Forecast Growth
MU has been the topic of several analyst reports. StockNews.com cut shares of Micron Technology from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. TD Cowen raised their target price on shares of Micron Technology from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 29th. The Goldman Sachs Group raised their price target on shares of Micron Technology from $59.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, March 30th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of Micron Technology in a research note on Wednesday, March 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Micron Technology from $55.00 to $65.00 in a research note on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $70.38.
Insider Buying and Selling
In related news, SVP Michael W. Bokan sold 20,000 shares of the stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $63.14, for a total value of $1,262,800.00. Following the transaction, the senior vice president now owns 175,086 shares in the company, valued at $11,054,930.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Michael W. Bokan sold 20,000 shares of the firm’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $63.14, for a total value of $1,262,800.00. Following the sale, the senior vice president now owns 175,086 shares in the company, valued at $11,054,930.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard M. Beyer sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $59.88, for a total value of $239,520.00. Following the completion of the transaction, the director now directly owns 95,660 shares of the company’s stock, valued at $5,728,120.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,000 shares of company stock worth $2,902,320. Insiders own 0.32% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Putnam Investments LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $237,000. SkyView Investment Advisors LLC bought a new stake in Micron Technology in the 1st quarter valued at approximately $564,000. Centaurus Financial Inc. lifted its stake in Micron Technology by 185.4% in the 1st quarter. Centaurus Financial Inc. now owns 11,437 shares of the semiconductor manufacturer’s stock valued at $690,000 after acquiring an additional 7,430 shares in the last quarter. Advisory Services Network LLC lifted its stake in Micron Technology by 0.3% in the 1st quarter. Advisory Services Network LLC now owns 88,173 shares of the semiconductor manufacturer’s stock valued at $5,320,000 after acquiring an additional 291 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its stake in Micron Technology by 0.5% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 639,864 shares of the semiconductor manufacturer’s stock valued at $38,609,000 after acquiring an additional 3,206 shares in the last quarter. 80.27% of the stock is owned by institutional investors.
About Micron Technology
Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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