Micron Technology (NASDAQ:MU) Announces Earnings Results

Micron Technology (NASDAQ:MU) posted its quarterly earnings data on Wednesday. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21, Briefing.com reports. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue was up 93.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.21) earnings per share. Micron Technology updated its Q1 guidance to $1.66-$1.82 EPS and its Q1 2025 guidance to 1.660-1.820 EPS.

Micron Technology Price Performance

Shares of MU opened at $107.50 on Friday. The firm has a 50-day simple moving average of $97.63 and a two-hundred day simple moving average of $114.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MU. UBS Group cut their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Robert W. Baird cut their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday. Wolfe Research boosted their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.38.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.