Micron Technology (NASDAQ:MU) announced its earnings results on Monday. The semiconductor manufacturer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.50 by $0.32, MarketWatch Earnings reports. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.05 billion. Micron Technology had a return on equity of 7.16% and a net margin of 11.72%. Micron Technology’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Micron Technology updated its Q4 2020
After-Hours guidance to 0.95-1.15 EPS and its Q4 guidance to $0.95-1.15 EPS.
Shares of MU stock opened at $49.15 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.74. The firm’s 50-day moving average is $48.38 and its 200-day moving average is $50.06. The stock has a market cap of $54.66 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.12 and a beta of 1.61. Micron Technology has a 52-week low of $31.13 and a 52-week high of $61.19.
Several research firms recently weighed in on MU. Cowen restated an “outperform” rating and issued a $65.00 price objective (down previously from $70.00) on shares of Micron Technology in a research report on Thursday, March 26th. UBS Group dropped their price objective on shares of Micron Technology from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Susquehanna Bancshares restated a “buy” rating and issued a $85.00 price objective on shares of Micron Technology in a research report on Friday. BMO Capital Markets cut shares of Micron Technology from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $60.00 to $55.00 in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company. Micron Technology presently has an average rating of “Buy” and an average price target of $64.10.
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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