Micron Technology (NASDAQ:MU) Issues Q4 Earnings Guidance

Micron Technology (NASDAQ:MU) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.95-1.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.80. The company issued revenue guidance of $5.75-6.25 billion, compared to the consensus revenue estimate of $5.51 billion.Micron Technology also updated its Q4 2020
After-Hours guidance to 0.95-1.15 EPS.

Several brokerages have commented on MU. UBS Group lowered their price objective on shares of Micron Technology from $70.00 to $66.00 and set a buy rating on the stock in a research report on Tuesday, May 26th. Mizuho lowered their price objective on shares of Micron Technology from $65.00 to $60.00 and set a buy rating on the stock in a research report on Thursday, March 26th. Cleveland Research lowered shares of Micron Technology from a buy rating to a neutral rating in a research report on Thursday, May 28th. Evercore ISI reaffirmed a buy rating and issued a $75.00 price objective on shares of Micron Technology in a research report on Thursday, May 28th. Finally, Citigroup reaffirmed a sell rating on shares of Micron Technology in a research report on Thursday, May 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $62.79.

NASDAQ MU traded up $0.66 during trading on Monday, hitting $49.15. The company had a trading volume of 24,237,294 shares, compared to its average volume of 27,497,451. The company has a current ratio of 2.74, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. Micron Technology has a one year low of $31.13 and a one year high of $61.19. The company has a market cap of $54.14 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.61. The company’s fifty day moving average is $48.38 and its 200-day moving average is $50.06.

In other Micron Technology news, SVP April S. Arnzen sold 2,542 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $45.00, for a total value of $114,390.00. Following the completion of the transaction, the senior vice president now directly owns 73,054 shares in the company, valued at approximately $3,287,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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