Equities research analysts predict that Micron Technology, Inc. (NASDAQ:MU) will report $2.31 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Micron Technology’s earnings. The lowest EPS estimate is $2.27 and the highest is $2.35. Micron Technology reported earnings of $1.08 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 113.9%. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, September 28th.
According to Zacks, analysts expect that Micron Technology will report full-year earnings of $5.95 per share for the current fiscal year, with EPS estimates ranging from $5.90 to $6.00. For the next financial year, analysts expect that the firm will report earnings of $12.14 per share, with EPS estimates ranging from $9.99 to $13.54. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Micron Technology.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, June 29th. The semiconductor manufacturer reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.17. Micron Technology had a return on equity of 12.60% and a net margin of 16.20%. The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The business’s revenue was up 36.5% on a year-over-year basis.
In other Micron Technology news, SVP Joel L. Poppen sold 4,984 shares of Micron Technology stock in a transaction on Monday, July 12th. The shares were sold at an average price of $78.76, for a total value of $392,539.84. Following the completion of the transaction, the senior vice president now owns 257,197 shares of the company’s stock, valued at $20,256,835.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP April S. Arnzen sold 8,300 shares of the stock in a transaction on Friday, September 24th. The stock was sold at an average price of $73.32, for a total transaction of $608,556.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,632 shares of company stock valued at $11,326,225. 0.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Meridian Wealth Partners LLC acquired a new stake in shares of Micron Technology during the first quarter worth $25,000. Red Door Wealth Management LLC acquired a new stake in shares of Micron Technology in the 2nd quarter worth about $32,000. Sterling Investment Advisors Ltd. increased its holdings in shares of Micron Technology by 700.0% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 400 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 350 shares during the period. Capital Analysts LLC acquired a new stake in shares of Micron Technology in the 2nd quarter worth about $35,000. Finally, Bedel Financial Consulting Inc. increased its holdings in shares of Micron Technology by 78.1% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 422 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 185 shares during the period. 78.34% of the stock is currently owned by institutional investors.
NASDAQ MU traded up $1.13 during trading hours on Monday, hitting $75.18. 18,273,175 shares of the company’s stock were exchanged, compared to its average volume of 19,756,252. The business’s 50 day moving average is $74.51 and its 200-day moving average is $80.81. Micron Technology has a 12-month low of $46.50 and a 12-month high of $96.96. The firm has a market capitalization of $84.63 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 0.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.57 and a current ratio of 3.40.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 18th. Shareholders of record on Friday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%.
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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