Micron Technology (NASDAQ:MU) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.40-$0.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.54. The company issued revenue guidance of $4.6-$5.2 billion, compared to the consensus revenue estimate of $4.88 billion.Micron Technology also updated its Q3 2020
After-Hours guidance to 0.40-0.70 EPS.
Shares of NASDAQ:MU opened at $42.50 on Thursday. The stock has a market cap of $47.95 billion, a PE ratio of 13.80, a PEG ratio of 1.99 and a beta of 1.78. The company’s fifty day moving average is $50.64 and its 200 day moving average is $50.13. Micron Technology has a 52 week low of $31.13 and a 52 week high of $61.19. The company has a quick ratio of 1.78, a current ratio of 2.56 and a debt-to-equity ratio of 0.16.
Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 25th. The semiconductor manufacturer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. The firm’s revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.71 EPS. Sell-side analysts anticipate that Micron Technology will post 2.12 EPS for the current year.
A number of equities analysts have issued reports on the stock. Rosenblatt Securities lifted their target price on shares of Micron Technology from $80.00 to $100.00 and gave the company a buy rating in a research note on Thursday, December 19th. Susquehanna Bancshares reaffirmed a buy rating and set a $85.00 target price on shares of Micron Technology in a research note on Sunday, January 5th. Zacks Investment Research lowered shares of Micron Technology from a hold rating to a sell rating and set a $54.00 target price on the stock. in a research note on Monday, December 16th. Wells Fargo & Co cut their target price on shares of Micron Technology from $70.00 to $50.00 and set an overweight rating on the stock in a research note on Friday, March 20th. Finally, Cascend Securities lifted their target price on shares of Micron Technology from $65.00 to $70.00 and gave the company a buy rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology currently has an average rating of Buy and a consensus price target of $62.57.
In other Micron Technology news, SVP Joel L. Poppen sold 20,000 shares of Micron Technology stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $56.97, for a total value of $1,139,400.00. Following the completion of the transaction, the senior vice president now directly owns 301,395 shares of the company’s stock, valued at $17,170,473.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP April S. Arnzen sold 4,400 shares of Micron Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $54.75, for a total transaction of $240,900.00. The disclosure for this sale can be found here. Insiders sold 28,800 shares of company stock valued at $1,644,300 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.
Micron Technology Company Profile
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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