Micron Technology (NASDAQ:MU) Releases Q4 Earnings Guidance

Micron Technology (NASDAQ:MU) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.00-1.16 for the period, compared to the consensus estimate of $1.02. The company issued revenue guidance of $7.40-7.80 billion, compared to the consensus revenue estimate of $7.59 billion. Micron Technology also updated its Q4 2024 guidance to 1.000-1.160 EPS.

Micron Technology Stock Performance

NASDAQ:MU opened at $142.36 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a 50-day moving average of $126.64 and a two-hundred day moving average of $105.26. The stock has a market cap of $157.65 billion, a P/E ratio of -41.26 and a beta of 1.21. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the company posted ($1.57) earnings per share. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. On average, research analysts expect that Micron Technology will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MU shares. TD Cowen raised their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company an outperform rating in a research note on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an equal weight rating to an overweight rating in a research note on Thursday, March 21st. Raymond James raised their price objective on shares of Micron Technology from $130.00 to $160.00 and gave the company an outperform rating in a research note on Friday, June 21st. Piper Sandler raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company an overweight rating in a research note on Thursday. Finally, Stifel Nicolaus lifted their price target on shares of Micron Technology from $140.00 to $165.00 and gave the stock a buy rating in a research report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $155.40.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total value of $1,851,300.00. Following the transaction, the senior vice president now directly owns 138,387 shares in the company, valued at $17,079,723.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the sale, the chief executive officer now owns 728,557 shares in the company, valued at $94,712,410. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,840 shares of company stock valued at $37,961,924. Insiders own 0.32% of the company’s stock.

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.