Micron Technology (MU) Scheduled to Post Quarterly Earnings on Wednesday

Micron Technology (NASDAQ:MU) is set to issue its quarterly earnings data after the market closes on Wednesday, June 26th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.03) EPS. On average, analysts expect Micron Technology to post $0 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Micron Technology Price Performance

Micron Technology stock opened at $153.45 on Wednesday. The stock has a market cap of $169.93 billion, a price-to-earnings ratio of -44.48 and a beta of 1.21. The firm has a 50-day moving average of $124.61 and a two-hundred day moving average of $102.82. Micron Technology has a 1 year low of $60.50 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of analyst reports. KeyCorp upped their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Morgan Stanley upgraded Micron Technology from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $98.00 to $130.00 in a research note on Monday, May 20th. Wells Fargo & Company lifted their target price on Micron Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. UBS Group boosted their target price on shares of Micron Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Bank of America lifted their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus price target of $137.92.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $113.38, for a total value of $5,102,100.00. Following the completion of the transaction, the chief executive officer now directly owns 758,557 shares of the company’s stock, valued at approximately $86,005,192.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $113.38, for a total value of $5,102,100.00. Following the completion of the sale, the chief executive officer now owns 758,557 shares of the company’s stock, valued at $86,005,192.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 365,446 shares of company stock valued at $43,826,633. 0.32% of the stock is owned by corporate insiders.

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.