Micron Technology (NASDAQ:MU – Get Rating) will 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.
Micron Technology (NASDAQ:MU – Get Rating) last released its earnings results on Tuesday, March 28th. The semiconductor manufacturer reported ($1.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.16). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.71 billion. Micron Technology had a net margin of 6.99% and a return on equity of 3.98%. The firm’s revenue for the quarter was down 52.6% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. 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 Stock Down 1.1 %
Micron Technology stock opened at $66.90 on Wednesday. The company has a market cap of $72.99 billion, a P/E ratio of 48.13 and a beta of 1.39. Micron Technology has a 1-year low of $48.43 and a 1-year high of $74.77. The company has a fifty day simple moving average of $64.87 and a 200 day simple moving average of $59.89. The company has a current ratio of 4.17, a quick ratio of 2.62 and a debt-to-equity ratio of 0.25.
Micron Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 25th. Stockholders of record on Monday, April 10th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, April 6th. Micron Technology’s dividend payout ratio (DPR) is presently 33.09%.
Analyst Upgrades and Downgrades
MU has been the subject of a number of research reports. Evercore ISI raised their target price on shares of Micron Technology from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, March 27th. BMO Capital Markets raised their target price on shares of Micron Technology from $67.00 to $80.00 in a research note on Friday, May 26th. Raymond James began coverage on shares of Micron Technology in a research note on Wednesday, March 1st. They issued an “outperform” rating and a $70.00 price objective for the company. VNET Group reiterated a “maintains” rating on shares of Micron Technology in a research note on Monday, June 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Micron Technology from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.38.
Insider Buying and Selling
In related news, Director Richard M. Beyer sold 4,000 shares of Micron Technology stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $59.88, for a total value of $239,520.00. Following the transaction, the director now directly owns 95,660 shares of the company’s stock, valued at $5,728,120.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Micron Technology news, Director Richard M. Beyer sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $59.88, for a total transaction of $239,520.00. Following the transaction, the director now directly owns 95,660 shares of the company’s stock, valued at approximately $5,728,120.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael W. Bokan sold 20,000 shares of the business’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $63.14, for a total transaction of $1,262,800.00. Following the transaction, the senior vice president now directly owns 175,086 shares in the company, valued at $11,054,930.04. The disclosure for this sale can be found here. Insiders have sold a total of 44,000 shares of company stock valued at $2,902,320 over the last three months. 0.32% of the stock is owned by company insiders.
Hedge Funds Weigh In On Micron Technology
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Studio Investment Management LLC increased its position in shares of Micron Technology by 0.8% during the 4th quarter. Studio Investment Management LLC now owns 21,367 shares of the semiconductor manufacturer’s stock valued at $1,068,000 after purchasing an additional 167 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in shares of Micron Technology by 6.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor manufacturer’s stock valued at $210,000 after purchasing an additional 168 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of Micron Technology by 3.5% during the 1st quarter. Evergreen Capital Management LLC now owns 5,682 shares of the semiconductor manufacturer’s stock valued at $443,000 after purchasing an additional 191 shares during the last quarter. First Dallas Securities Inc. increased its holdings in Micron Technology by 0.9% in the 1st quarter. First Dallas Securities Inc. now owns 22,550 shares of the semiconductor manufacturer’s stock worth $1,361,000 after acquiring an additional 200 shares in the last quarter. Finally, Certified Advisory Corp increased its holdings in Micron Technology by 1.8% in the 1st quarter. Certified Advisory Corp now owns 11,520 shares of the semiconductor manufacturer’s stock worth $897,000 after acquiring an additional 203 shares in the last quarter. Institutional investors own 80.27% of the company’s stock.
Micron Technology Company Profile
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.