Micron Technology (NASDAQ:MU) Announces Quarterly Earnings Results

Micron Technology (NASDAQ:MU) announced its quarterly earnings results 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 business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Micron Technology had a net margin of 12.54% and a return on equity of 7.73%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS.

MU stock traded down $1.69 during mid-day trading on Friday, reaching $77.42. The company had a trading volume of 50,858,649 shares, compared to its average volume of 33,174,324. 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 company has a market capitalization of $86.47 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The firm has a 50 day moving average of $70.07 and a 200 day moving average of $54.85. Micron Technology has a 12 month low of $31.13 and a 12 month high of $84.16.

Several analysts have commented on MU shares. Barclays boosted their price target on shares of Micron Technology from $75.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group decreased their price target on shares of Micron Technology from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Micron Technology from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp upped their target price on shares of Micron Technology from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC upped their target price on shares of Micron Technology from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday. One equities research 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 stock. Micron Technology has a consensus rating of “Buy” and an average price target of $84.19.

In other Micron Technology news, CFO David Zinsner sold 9,051 shares of the company’s stock in a transaction dated Friday, December 18th. The shares were sold at an average price of $72.17, for a total value of $653,210.67. Following the transaction, the chief financial officer now directly owns 129,214 shares in the company, valued at approximately $9,325,374.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 27,640 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $55.00, for a total transaction of $1,520,200.00. Following the completion of the sale, the executive vice president now directly owns 198,808 shares of the company’s stock, valued at approximately $10,934,440. The disclosure for this sale can be found here. Insiders sold a total of 126,705 shares of company stock worth $7,658,336 over the last 90 days. Insiders own 0.30% of the company’s stock.

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.

Featured Story: Retained Earnings

Earnings History for Micron Technology (NASDAQ:MU)

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