Brokers anticipate that Micron Technology, Inc. (NASDAQ: MU – Get a rating) will post revenue of $8.69 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts provided earnings estimates for Micron Technology, with the highest sales estimate at $8.72 billion and the lowest estimate at $8.59 billion. Micron Technology posted sales of $7.42 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 17.1%. The company is due to release its next results on Monday, January 1.
According to Zacks, analysts expect Micron Technology to report annual sales of $33.55 billion for the current fiscal year, with estimates ranging from $32.71 billion to $34.05 billion. For the next fiscal year, analysts expect the company to post sales of $39.42 billion, with estimates ranging from $32.59 billion to $41.67 billion. Zacks Investment Research sales calculations are an average based on a survey of research companies that cover Micron Technology.
Micron technology (NASDAQ: MU – Get a rating) last released its results on Tuesday, March 29. The semiconductor maker reported EPS of $2.14 for the quarter, beating Thomson Reuters consensus estimate of $1.97 by $0.17. Micron Technology achieved a net margin of 28.95% and a return on equity of 21.15%. The company posted revenue of $7.79 billion for the quarter, versus a consensus estimate of $7.53 billion. In the same period a year earlier, the company posted earnings per share of $0.90. The company’s quarterly revenue increased 25.6% year over year.
A number of brokerages have weighed in on MU recently. Rosenblatt Securities reissued a “buy” rating and set a price target of $165.00 on shares of Micron Technology in a Wednesday, March 30 research report. Goldman Sachs Group raised its price target on Micron Technology shares from $101.00 to $116.00 and gave the stock a “buy” rating in a Monday, Jan. 10 research note. New Street Research launched coverage on Micron Technology shares in a research note on Monday, January 10. They set a “buy” rating and a price target of $135.00 on the stock. Susquehanna launched a hedge on Micron Technology shares in a Wednesday, March 30 research note. They issued a “buy” rating and a price target of $125.00 on the stock. Finally, Mizuho raised its price target on Micron Technology shares from $110.00 to $113.00 and gave the company a “buy” rating in a Wednesday, March 30 research note. Four investment analysts gave the stock a hold rating, twenty-two gave the company a buy rating and two gave the company a high buy rating. According to MarketBeat, the stock has an average buy rating and a consensus target price of $113.32.
In other news, SVP April S. Arnzen sold 5,600 shares in a trade on Thursday, March 24. The shares were sold at an average price of $76.00, for a total value of $425,600.00. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, please Robert P. Beard sold 266 shares in a trade on Wednesday, February 16. The stock was sold at an average price of $96.17, for a total transaction of $25,581.22. Disclosure of this sale can be found here. 0.32% of the shares are currently held by company insiders.
Several institutional investors and hedge funds have recently changed their positions in MU. OLD Mission Capital LLC bought a new position in shares of Micron Technology in the third quarter, valued at approximately $251,000. New World Advisors LLC acquired a new stake in Micron Technology stock in Q3 worth approximately $339,000. Financial Advocates Investment Management increased its stake in Micron Technology by 1.8% during the third quarter. Financial Advocates Investment Management now owns 8,379 shares of the semiconductor maker valued at $595,000 after buying 147 additional shares in the last quarter. Capital Analysts LLC increased its stake in Micron Technology by 38.6% during the third quarter. Capital Analysts LLC now owns 575 shares of the semiconductor maker valued at $41,000 after buying an additional 160 shares in the last quarter. Finally, Almanack Investment Partners LLC. acquired a new stake in Micron Technology during Q3 valued at $464,000. Institutional investors and hedge funds own 76.07% of the company’s shares.
NASDAQ: MU opened at $68.19 on Friday. The company has a current ratio of 3.11, a quick ratio of 2.33 and a debt ratio of 0.15. The stock has a market capitalization of $76.15 billion, a P/E ratio of 8.58, a price-to-earnings growth ratio of 0.24 and a beta of 1.16. The company has a 50-day moving average of $77.02 and a 200-day moving average of $81.08. Micron Technology has a 1-year low of $65.67 and a 1-year high of $98.45.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26. Shareholders of record on Monday, April 11 received a dividend of $0.10. The ex-dividend date was Friday, April 8. This represents an annualized dividend of $0.40 and a yield of 0.59%. Micron Technology’s dividend payout ratio (DPR) is 5.03%.
Micron Technology Company Profile (Get a rating)
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 provides memory and storage technologies including DRAM products, which are low-latency dynamic random access memory (DRAM) semiconductor devices that enable high-speed data retrieval; NAND products that are non-volatile, rewritable semiconductor storage devices; and NOR memory products, which are non-volatile rewritable semiconductor memory devices that offer fast read speeds under the Micron and Crucial brands, as well as through private labels.
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