Micron Technology (MU) to Release Earnings on Thursday

Micron Technology (NASDAQ:MU) is anticipated to release its earnings data after the market closes on Thursday, March 20th. Analysts expect Micron Technology to post earnings of $1.43 per share and revenue of $7.93 billion for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.95) EPS. On average, analysts expect Micron Technology to post $6 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Micron Technology Stock Performance

NASDAQ MU opened at $101.72 on Wednesday. The stock has a market capitalization of $113.33 billion, a PE ratio of 29.31 and a beta of 1.23. The business has a 50 day simple moving average of $96.79 and a two-hundred day simple moving average of $98.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology has a 1-year low of $83.54 and a 1-year high of $157.54.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Micron Technology stock. Brighton Jones LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 6,318 shares of the semiconductor manufacturer’s stock after acquiring an additional 976 shares during the quarter. Brighton Jones LLC’s holdings in Micron Technology were worth $532,000 at the end of the most recent reporting period. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MU shares. Bank of America lowered Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Morgan Stanley lowered their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Wedbush reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Micron Technology in a research note on Monday. Finally, Wells Fargo & Company lowered their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

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 comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.