Micron Technology (NASDAQ:MU) Issues Quarterly Earnings Results

Micron Technology (NASDAQ:MU) released its quarterly earnings results on Wednesday. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21, Briefing.com reports. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the company earned ($1.21) EPS. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. Micron Technology updated its Q1 guidance to $1.66-$1.82 EPS and its Q1 2025 guidance to 1.660-1.820 EPS.

Micron Technology Trading Up 14.7 %

Shares of MU stock opened at $109.88 on Friday. Micron Technology has a 12-month low of $63.83 and a 12-month high of $157.54. The firm has a 50 day moving average price of $97.77 and a two-hundred day moving average price of $114.60. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $121.84 billion, a PE ratio of -77.38, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is presently -32.39%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MU. Bank of America boosted their target price on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler increased their price target on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Stifel Nicolaus decreased their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Susquehanna cut their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, Wolfe Research boosted their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.38.

About Micron Technology

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.