Micron Technology (NASDAQ:MU) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.51-2.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.04. The company issued revenue guidance of $6.80-7.20 billion, compared to the consensus revenue estimate of $6.21 billion.
A number of research firms have commented on MU. Mizuho reissued a buy rating and issued a $40.00 target price (up previously from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. Cowen reissued an outperform rating and issued a $43.00 target price (up previously from $40.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Longbow Research restated a buy rating and issued a $50.00 price target (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Deutsche Bank reiterated a buy rating and set a $43.00 target price (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, BMO Capital Markets assumed coverage on Micron Technology in a report on Monday, October 2nd. They issued a market perform rating and a $43.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $55.33.
Micron Technology (NASDAQ:MU) traded down $0.49 during trading hours on Thursday, hitting $42.82. The stock had a trading volume of 38,540,900 shares, compared to its average volume of 46,660,000. Micron Technology has a 12 month low of $21.49 and a 12 month high of $49.89. The company has a market capitalization of $49,510.00, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39.
Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 71.4% on a year-over-year basis. equities analysts expect that Micron Technology will post 9.78 EPS for the current fiscal year.
In related news, EVP Scott J. Deboer sold 30,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the sale, the executive vice president now directly owns 122,667 shares of the company’s stock, valued at approximately $5,152,014. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the sale, the director now directly owns 117,299 shares of the company’s stock, valued at $5,225,670.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,720 shares of company stock valued at $8,046,240. 0.53% of the stock is currently owned by company insiders.
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Micron Technology Company Profile
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