Micron Technology (NASDAQ:MU) Releases Q4 2024 Earnings Guidance

Micron Technology (NASDAQ:MU) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.000-1.160 for the period, compared to the consensus EPS estimate of 1.050. The company issued revenue guidance of $7.4 billion-$7.8 billion, compared to the consensus revenue estimate of $7.6 billion. Micron Technology also updated its Q4 guidance to $1.00-1.16 EPS.

Micron Technology Stock Down 0.5 %

MU opened at $131.53 on Friday. Micron Technology has a one year low of $60.50 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.40 and a current ratio of 3.41. The stock’s fifty day moving average is $128.07 and its 200-day moving average is $106.08. The company has a market capitalization of $145.65 billion, a PE ratio of -92.63 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.57) EPS. On average, equities analysts predict that Micron Technology will post 0.36 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.35%. Micron Technology’s dividend payout ratio is -32.39%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research analyst reports. Mizuho increased their price target on Micron Technology from $150.00 to $155.00 and gave the stock a buy rating in a research report on Friday, May 31st. Needham & Company LLC increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock a buy rating in a research report on Thursday. Rosenblatt Securities restated a buy rating and set a $225.00 price target on shares of Micron Technology in a research report on Tuesday. Wolfe Research upped their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a report on Friday, June 21st. Finally, Barclays upped their price objective on Micron Technology from $120.00 to $145.00 and gave the stock an overweight rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $158.52.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Micron Technology 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 sale, the senior vice president now directly owns 138,387 shares in the company, valued at approximately $17,079,723.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the sale, the chief executive officer now owns 743,557 shares in the company, valued at $90,780,874.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,840 shares of company stock valued at $37,961,924. Corporate insiders own 0.32% of the company’s stock.

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.