Micron Technology (NASDAQ:MU) Announces Quarterly Earnings Results

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

MU traded up $1.35 on Friday, reaching $80.46. 1,201,936 shares of the stock were exchanged, compared to its average volume of 28,656,070. The company’s 50-day moving average price is $69.70 and its 200 day moving average price is $54.71. Micron Technology has a fifty-two week low of $31.13 and a fifty-two week high of $80.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 1.86. The firm has a market capitalization of $89.87 billion, a PE ratio of 34.05, a PEG ratio of 1.83 and a beta of 1.37.

In other news, CFO David Zinsner sold 9,051 shares of the business’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $72.17, for a total value of $653,210.67. Following the completion of the transaction, the chief financial officer now owns 129,214 shares of the company’s stock, valued at approximately $9,325,374.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP April S. Arnzen sold 11,668 shares of the business’s stock in a transaction dated Monday, November 16th. The shares were sold at an average price of $61.16, for a total value of $713,614.88. Following the completion of the transaction, the senior vice president now directly owns 112,048 shares of the company’s stock, valued at approximately $6,852,855.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,705 shares of company stock valued at $7,658,336. 0.30% of the stock is currently owned by insiders.

Several research analysts have commented on the company. Credit Suisse Group raised their price objective on Micron Technology from $90.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday. Longbow Research lifted their price target on Micron Technology from $83.00 to $96.00 and gave the company a “buy” rating in a report on Friday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Micron Technology from a “sell” rating to a “buy” rating and lifted their price target for the company from $35.00 to $100.00 in a report on Tuesday. Evercore ISI lifted their price target on Micron Technology from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Friday. Finally, BidaskClub upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $81.44.

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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