Earnings per share of $1.95 expected for Micron Technology, Inc. (NASDAQ:MU) this quarter

Wall Street analysts expect Micron Technology, Inc. (NASDAQ:MU – Get Rating) to report earnings per share (EPS) of $1.95 for the current fiscal quarter, according to Zacks. Six analysts provided earnings estimates for Micron Technology, with the lowest EPS estimate of $1.95 and the highest estimate of $1.97. Micron Technology reported earnings per share of $0.98 in the same quarter last year, suggesting a positive 99% year-over-year growth rate. The company is due to announce its next results on Wednesday, March 30.

According to Zacks, analysts expect Micron Technology to report annual earnings of $8.95 per share for the current fiscal year, with EPS estimates ranging from $8.64 to $9.31. For the next fiscal year, analysts expect the company to post earnings of $11.02 per share, with EPS estimates ranging from $8.40 to $12.87. Zacks earnings per share calculations are an average average based on a survey of research companies that cover Micron Technology.

Micron Technology (NASDAQ:MU – Get Rating) last reported results on Monday, December 20. The semiconductor maker reported earnings per share of $2.16 for the quarter, beating analyst consensus estimates of $2.11 by $0.05. Micron Technology achieved a net margin of 24.86% and a return on equity of 19.01%. The company posted revenue of $7.69 billion for the quarter, versus $7.68 billion expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.71. The company’s revenue increased 33.2% year over year.

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MU has been the subject of a number of recent analyst reports. Evercore ISI raised its price target on Micron Technology stock from $100.00 to $120.00 and gave the stock an “outperform” rating in a Monday, Dec. 13 research report. Mizuho raised its price target on Micron Technology from $98.00 to $110.00 in a research report on Thursday, January 13. Wells Fargo & Company restated a “buy” rating and set a target price of $115.00 on Micron Technology stock in a Monday, Nov. 22, research report. Wedbush upgraded Micron Technology shares from a “neutral” to an “outperforming” rating and raised its target price for the stock from $100.00 to $120.00 in a Monday 14 research report. February. Finally, the Goldman Sachs Group raised its price target on Micron Technology shares from $101.00 to $116.00 and gave the company a “buy” rating in a Monday, January 10 research report. One financial analyst gave the stock a sell rating, five gave the stock a hold rating, twenty-four gave the company a buy rating and one gave the company a high buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $112.17.

Separately, Executive Vice President Manish H. Bhatia sold 97,107 shares of Micron Technology in a trade that took place on Friday, January 14. The stock was sold at an average price of $96.02, for a total value of $9,324,214.14. The sale was disclosed in a document filed with the SEC, which is available via this link. Additionally, CEO Sanjay Mehrotra sold 100,000 shares of the company in a deal that took place on Friday, January 14. The shares were sold at an average price of $97.16, for a total value of $9,716,000.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 240,673 shares of the company valued at $22,973,742. Insiders own 0.32% of the shares of the company.

A number of hedge funds and other institutional investors have recently changed their holdings in UM. Concorde Financial Corp bought a new stake in shares of Micron Technology in the fourth quarter worth $27,000. Selective Wealth Management Inc. bought a new position in Micron Technology in Q4 worth approximately $28,000. Sterling Investment Advisors Ltd. increased its position in Micron Technology by 600.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor maker valued at $33,000 after buying 300 more shares in the last quarter. Vectors Research Management LLC increased its stake in Micron Technology by 60.3% during the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor maker valued at $35,000 after buying an additional 140 shares in the last quarter. Finally, Activest Wealth Management increased its stake in Micron Technology by 237.3% in the fourth quarter. Activest Wealth Management now owns 398 shares of the semiconductor maker worth $37,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds hold 76.07% of the company’s shares.

The NASDAQ MU traded at $1.56 during Friday trading hours, hitting $90.39. The company’s shares had a trading volume of 643,535 shares, compared to its average volume of 21,348,586. The company has a fifty-day simple moving average of $89.57 and a 200-day simple moving average from $79.88. The company has a debt ratio of 0.15, a current ratio of 3.10 and a quick ratio of 2.36. Micron Technology has a 52-week low of $65.67 and a 52-week high of $98.45. The stock has a market capitalization of $101.22 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.46 and a beta of 1.19.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 18. Shareholders of record on Monday, January 3 received a dividend of $0.10. The ex-dividend date was Friday, December 31. This represents a dividend of $0.40 on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is currently 6.17%.

Micron Technology Company Profile (Get an evaluation)

Micron Technology, Inc is committed to providing innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU) and Embedded Business Unit (EBU). The CNBU segment includes memory products sold in the cloud server, enterprise, client, graphics and networking markets.

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Earnings history and estimates for Micron Technology (NASDAQ:MU)

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