Micron Technology (MU) Issues Q2 Earnings Guidance

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Micron Technology (NASDAQ:MU) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.65-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.45. The company issued revenue guidance of $5.7-6.3 billion, compared to the consensus revenue estimate of $7.18 billion.

Shares of MU stock opened at $34.11 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16. The company has a market cap of $37.95 billion, a price-to-earnings ratio of 2.89, a P/E/G ratio of 0.56 and a beta of 1.63. Micron Technology has a 12-month low of $33.60 and a 12-month high of $64.66.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.07. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. During the same quarter in the prior year, the firm earned $2.45 earnings per share. On average, sell-side analysts anticipate that Micron Technology will post 9.59 EPS for the current fiscal year.

MU has been the subject of several research reports. Raymond James initiated coverage on shares of Micron Technology in a research report on Monday, October 22nd. They set a market perform rating for the company. ValuEngine upgraded shares of Micron Technology from a strong sell rating to a sell rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. reiterated an overweight rating and issued a $84.00 price target on shares of Micron Technology in a research report on Wednesday, September 19th. Zacks Investment Research downgraded shares of Micron Technology from a hold rating to a sell rating in a research report on Wednesday, September 19th. Finally, Goldman Sachs Group downgraded shares of Micron Technology from a buy rating to a neutral rating and dropped their price target for the company from $68.00 to $50.00 in a research report on Wednesday, September 12th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $58.83.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions 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 Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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Earnings History and Estimates for Micron Technology (NASDAQ:MU)

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