Micron Technology (MU) to Release Earnings on Wednesday

Micron Technology (NASDAQ:MU) is set to issue its quarterly earnings data after the market closes on Wednesday, September 25th. Analysts expect the company to announce earnings of $0.97 per share for the quarter. Micron Technology has set its Q4 guidance at $1.00-1.16 EPS and its Q4 2024 guidance at 1.000-1.160 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period last year, the company earned ($1.57) EPS. On average, analysts expect Micron Technology to post $1 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Micron Technology Price Performance

MU opened at $93.57 on Tuesday. The company’s 50-day simple moving average is $99.06 and its two-hundred day simple moving average is $114.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The stock has a market capitalization of $103.75 billion, a P/E ratio of -65.89 and a beta of 1.17. Micron Technology has a 52-week low of $63.83 and a 52-week high of $157.54.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology’s payout ratio is -32.39%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. UBS Group lowered their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a research note on Thursday, June 27th. Needham & Company LLC lowered their target price on shares of Micron Technology from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Piper Sandler upped their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

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.