Micron Technology (NASDAQ:MU) Issues Earnings Results, Beats Estimates By $0.07 EPS

Micron Technology (NASDAQ:MU) issued its earnings results on Wednesday. The semiconductor manufacturer reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07, MarketWatch Earnings reports. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.66 billion. Micron Technology had a return on equity of 7.73% and a net margin of 12.54%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS.

NASDAQ:MU opened at $79.11 on Friday. The company has a quick ratio of 1.86, a current ratio of 2.71 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $69.70 and a two-hundred day simple moving average of $54.71. The company has a market cap of $88.36 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. Micron Technology has a 52 week low of $31.13 and a 52 week high of $80.08.

In related news, EVP Scott J. Deboer sold 27,640 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $55.00, for a total transaction of $1,520,200.00. Following the completion of the transaction, the executive vice president now directly owns 198,808 shares of the company’s stock, valued at $10,934,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Zinsner sold 9,051 shares of the stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $72.17, for a total transaction of $653,210.67. Following the transaction, the chief financial officer now directly owns 129,214 shares of the company’s stock, valued at $9,325,374.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 126,705 shares of company stock valued at $7,658,336. Insiders own 0.30% of the company’s stock.

MU has been the topic of several analyst reports. Barclays increased their price target on Micron Technology from $75.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group cut their price target on Micron Technology from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Cascend Securities increased their price target on Micron Technology from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Finally, Morgan Stanley increased their price target on Micron Technology from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and an average target price of $77.32.

Micron Technology Company Profile

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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Earnings History for Micron Technology (NASDAQ:MU)

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