Micron Technology (NASDAQ:MU) Announces Quarterly Earnings Results

Micron Technology (NASDAQ:MU) issued its quarterly earnings results on Wednesday. The semiconductor manufacturer reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.07, MarketWatch Earnings reports. Micron Technology had a return on equity of 7.73% and a net margin of 12.54%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm posted $0.48 EPS. Micron Technology’s revenue was up 12.2% on a year-over-year basis.

Shares of MU stock traded down $1.48 on Friday, hitting $77.63. 2,281,674 shares of the stock traded hands, compared to its average volume of 28,656,070. The company’s fifty day moving average is $69.70 and its 200 day moving average is $54.71. Micron Technology has a 1-year low of $31.13 and a 1-year high of $80.08. The company has a market capitalization of $86.71 billion, a PE ratio of 33.50, a PEG ratio of 1.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 1.86.

MU has been the subject of a number of recent analyst reports. Cowen boosted their target price on shares of Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Friday. UBS Group reduced their target price on Micron Technology from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Raymond James upped their price target on Micron Technology from $80.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday. The Goldman Sachs Group lifted their price objective on Micron Technology from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, December 14th. Finally, BidaskClub upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $84.19.

In other Micron Technology news, SVP Joel L. Poppen sold 30,900 shares of Micron Technology stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $56.80, for a total value of $1,755,120.00. Following the completion of the transaction, the senior vice president now directly owns 335,558 shares in the company, valued at $19,059,694.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David Zinsner sold 9,051 shares of the company’s stock in a transaction that occurred on Friday, December 18th. The shares were sold at an average price of $72.17, for a total value of $653,210.67. Following the transaction, the chief financial officer now directly owns 129,214 shares of the company’s stock, valued at $9,325,374.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,705 shares of company stock valued at $7,658,336. 0.30% of the stock is currently owned by corporate insiders.

About Micron Technology

Micron Technology, Inc designs, manufactures, and sells memory and storage products 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, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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Earnings History for Micron Technology (NASDAQ:MU)

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