Micron Technology (NASDAQ:MU) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, March 21st. Analysts expect the company to announce earnings of $2.55 per share for the quarter. Micron Technology has set its Q2 guidance at $2.51-2.65 EPS.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. On average, analysts expect Micron Technology to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.
Shares of Micron Technology (MU) opened at $59.43 on Wednesday. The stock has a market cap of $68,720.00, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 0.53 and a beta of 1.45. Micron Technology has a fifty-two week low of $24.93 and a fifty-two week high of $63.42. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.
MU has been the topic of a number of research reports. Wells Fargo & Co reiterated a “buy” rating and set a $54.00 target price (up from $45.00) on shares of Micron Technology in a report on Wednesday, December 20th. Zacks Investment Research lowered shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Cowen set a $50.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Micron Technology to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and a consensus target price of $57.86.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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