$1.37 EPS Expected for Micron Technology, Inc. (MU) This Quarter

Wall Street brokerages expect Micron Technology, Inc. (NASDAQ:MU) to announce earnings per share of $1.37 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Micron Technology’s earnings, with the highest EPS estimate coming in at $1.45 and the lowest estimate coming in at $1.26. Micron Technology posted earnings per share of ($0.08) in the same quarter last year, which indicates a positive year-over-year growth rate of 1,812.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, June 29th.

According to Zacks, analysts expect that Micron Technology will report full-year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $3.87. For the next financial year, analysts expect that the business will post earnings of $4.95 per share, with EPS estimates ranging from $4.18 to $5.72. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Micron Technology.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.06. The business earned $4.65 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The firm’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS.

Several brokerages recently weighed in on MU. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of Micron Technology in a research report on Thursday, February 2nd. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $25.93 price objective for the company in a research report on Thursday, February 2nd. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $35.00 price objective (up from $31.00) on shares of Micron Technology in a research report on Monday, March 27th. Cowen and Company upped their price target on Micron Technology from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, March 3rd. Finally, Wells Fargo & Co restated an “outperform” rating and set a $32.50 price target (down from $35.00) on shares of Micron Technology in a research note on Thursday, March 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $31.25.

Micron Technology (NASDAQ:MU) traded up 0.14% during trading on Tuesday, reaching $27.67. The company’s stock had a trading volume of 28,105,074 shares. The stock has a 50-day moving average of $27.26 and a 200 day moving average of $22.57. The firm has a market capitalization of $30.61 billion, a P/E ratio of 43.10 and a beta of 1.93. Micron Technology has a one year low of $9.35 and a one year high of $29.87. Micron Technology also saw unusually large options trading on Thursday. Stock investors acquired 25,027 put options on the stock. This represents an increase of 117% compared to the average daily volume of 11,516 put options.

In other news, VP Steven L. Thorsen, Jr. sold 126,000 shares of Micron Technology stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $24.64, for a total transaction of $3,104,640.00. Following the completion of the sale, the vice president now directly owns 421,690 shares in the company, valued at approximately $10,390,441.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Steven L. Thorsen, Jr. sold 50,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $28.46, for a total transaction of $1,423,000.00. Following the sale, the vice president now owns 245,690 shares of the company’s stock, valued at $6,992,337.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,388 shares of company stock valued at $9,500,740. Insiders own 0.69% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Micron Technology by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,888,475 shares of the semiconductor manufacturer’s stock worth $304,475,000 after buying an additional 105,111 shares during the last quarter. Winslow Capital Management LLC bought a new stake in Micron Technology during the third quarter worth about $200,253,000. Norges Bank bought a new stake in Micron Technology during the fourth quarter worth about $217,749,000. Arrowstreet Capital Limited Partnership increased its stake in Micron Technology by 2,047.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,798,500 shares of the semiconductor manufacturer’s stock worth $149,023,000 after buying an additional 6,481,879 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in Micron Technology by 22.0% in the fourth quarter. Teachers Advisors LLC now owns 4,712,736 shares of the semiconductor manufacturer’s stock worth $103,303,000 after buying an additional 849,803 shares during the last quarter. Institutional investors own 81.43% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “$1.37 EPS Expected for Micron Technology, Inc. (MU) This Quarter” was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/05/20/1-37-eps-expected-for-micron-technology-inc-mu-this-quarter-updated-updated.html.

About Micron Technology

5 Day Chart for NASDAQ:MU

Get a free copy of the Zacks research report on Micron Technology (MU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply