Micron Technology, Inc. (MU) Expected to Announce Earnings of $2.20 Per Share

Analysts predict that Micron Technology, Inc. (NASDAQ:MU) will report earnings of $2.20 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Micron Technology’s earnings. The lowest EPS estimate is $2.10 and the highest is $2.32. Micron Technology posted earnings per share of $0.32 in the same quarter last year, which suggests a positive year-over-year growth rate of 587.5%. The business is expected to issue its next earnings results after the market closes on Tuesday, December 19th.

On average, analysts expect that Micron Technology will report full-year earnings of $7.67 per share for the current year, with EPS estimates ranging from $7.12 to $8.35. For the next financial year, analysts forecast that the business will report earnings of $5.97 per share, with EPS estimates ranging from $2.96 to $7.26. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Micron Technology.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share.

A number of research firms have recently weighed in on MU. Vetr downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price target on the stock. in a research note on Friday, November 17th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 price target (up from $37.00) on shares of Micron Technology in a research note on Wednesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating on shares of Micron Technology in a research note on Wednesday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price target on shares of Micron Technology in a research note on Monday, August 14th. Finally, J P Morgan Chase & Co upped their price target on shares of Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.20.

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In related news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $32.64, for a total value of $97,920.00. Following the completion of the sale, the director now owns 117,284 shares in the company, valued at $3,828,149.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joel L. Poppen sold 80,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the completion of the sale, the insider now owns 266,966 shares of the company’s stock, valued at approximately $10,307,557.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,415 shares of company stock worth $11,836,825. 0.69% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SevenBridge Financial Group LLC lifted its stake in Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares during the period. Captrust Financial Advisors bought a new position in Micron Technology during the second quarter worth about $107,000. Salem Investment Counselors Inc. lifted its stake in Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares during the period. Jacobi Capital Management LLC lifted its stake in Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after purchasing an additional 2,600 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new position in Micron Technology during the second quarter worth about $141,000. Hedge funds and other institutional investors own 76.85% of the company’s stock.

Micron Technology (NASDAQ MU) traded down $0.26 on Monday, hitting $49.14. The stock had a trading volume of 28,482,742 shares, compared to its average volume of 28,922,857. The stock has a market capitalization of $56,970.80, a price-to-earnings ratio of 11.13, a P/E/G ratio of 0.67 and a beta of 1.78. Micron Technology has a one year low of $18.18 and a one year high of $49.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75.

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