Micron Technology (NASDAQ:MU) Releases Q4 Earnings Guidance

Micron Technology (NASDAQ:MU) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.95-1.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.80. The company issued revenue guidance of $5.75-6.25 billion, compared to the consensus revenue estimate of $5.51 billion.Micron Technology also updated its Q4 2020
After-Hours guidance to 0.95-1.15 EPS.

Shares of MU opened at $49.15 on Tuesday. Micron Technology has a 12 month low of $31.13 and a 12 month high of $61.19. The firm’s 50 day moving average is $48.38 and its 200-day moving average is $50.06. The stock has a market capitalization of $54.66 billion, a PE ratio of 24.33, a P/E/G ratio of 2.12 and a beta of 1.61. The company has a current ratio of 2.74, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Monday, June 29th. The semiconductor manufacturer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.32. Micron Technology had a net margin of 11.72% and a return on equity of 7.16%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business posted $1.05 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts predict that Micron Technology will post 2.23 earnings per share for the current fiscal year.

A number of brokerages have recently commented on MU. Deutsche Bank cut their price target on shares of Micron Technology from $65.00 to $60.00 and set a buy rating on the stock in a report on Thursday, March 26th. Cowen reiterated an outperform rating and set a $65.00 price target (down previously from $70.00) on shares of Micron Technology in a report on Thursday, March 26th. BidaskClub lowered shares of Micron Technology from a strong-buy rating to a buy rating in a report on Saturday, April 25th. Needham & Company LLC reiterated a buy rating and set a $70.00 price target on shares of Micron Technology in a report on Tuesday. Finally, Goldman Sachs Group downgraded shares of Micron Technology from a buy rating to a neutral rating and lowered their target price for the stock from $60.00 to $49.00 in a research note on Monday, April 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $63.14.

In related news, SVP April S. Arnzen sold 2,542 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $45.00, for a total value of $114,390.00. Following the completion of the transaction, the senior vice president now directly owns 73,054 shares of the company’s stock, valued at approximately $3,287,430. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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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