Micron Technology (MU) to Release Earnings on Thursday

Micron Technology (NASDAQ:MU) is projected to post its quarterly earnings results after the market closes on Thursday, March 20th. Analysts expect Micron Technology to post earnings of $1.43 per share and revenue of $7.93 billion for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) EPS. The firm’s revenue was up 84.3% compared to the same quarter last year. On average, analysts expect Micron Technology to post $6 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Micron Technology Stock Performance

Shares of MU opened at $101.72 on Wednesday. The stock has a market cap of $113.33 billion, a P/E ratio of 29.31 and a beta of 1.23. The stock has a 50-day moving average of $96.79 and a two-hundred day moving average of $98.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology has a one year low of $83.54 and a one year high of $157.54.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Morgan Stanley decreased their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.16.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

A hedge fund recently raised its stake in Micron Technology stock. Brighton Jones LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 18.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,318 shares of the semiconductor manufacturer’s stock after acquiring an additional 976 shares during the period. Brighton Jones LLC’s holdings in Micron Technology were worth $532,000 at the end of the most recent quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.