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.
About Micron Technology
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