Brokerages forecast that Micron Technology, Inc. (NASDAQ:MU) will post $1.72 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Micron Technology’s earnings, with the lowest EPS estimate coming in at $1.66 and the highest estimate coming in at $1.78. Micron Technology reported earnings of ($0.05) per share during the same quarter last year, which would suggest a positive year over year growth rate of 3,540%. The business is expected to announce its next quarterly earnings results on Tuesday, October 3rd.

On average, analysts expect that Micron Technology will report full-year earnings of $4.08 per share for the current fiscal year, with EPS estimates ranging from $4.00 to $4.15. For the next year, analysts expect that the business will report earnings of $5.75 per share, with EPS estimates ranging from $5.50 to $6.08. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Micron Technology.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period last year, the business posted ($0.08) EPS. The business’s revenue was up 92.2% compared to the same quarter last year.

Several analysts have recently issued reports on MU shares. Mizuho reiterated a “buy” rating and issued a $35.00 price objective on shares of Micron Technology in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) cut Micron Technology from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. BidaskClub cut Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Pacific Crest reiterated a “fair value” rating and issued a $32.00 price objective on shares of Micron Technology in a research note on Friday, March 24th. Finally, Loop Capital reiterated a “buy” rating and issued a $40.00 price objective on shares of Micron Technology in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and a consensus price target of $35.29.

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In other news, VP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president now directly owns 150,232 shares of the company’s stock, valued at approximately $4,807,424. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mercedes Johnson sold 27,242 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $27.66, for a total transaction of $753,513.72. Following the transaction, the director now directly owns 54,533 shares of the company’s stock, valued at $1,508,382.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,242 shares of company stock valued at $1,250,284. Corporate insiders own 0.69% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Guardian Life Insurance Co. of America boosted its stake in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the last quarter. Washington Trust Bank boosted its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in Micron Technology by 0.5% in the first quarter. Winslow Evans & Crocker Inc. now owns 21,400 shares of the semiconductor manufacturer’s stock valued at $618,000 after buying an additional 100 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock valued at $359,000 after buying an additional 170 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Micron Technology by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 43,675 shares of the semiconductor manufacturer’s stock valued at $1,262,000 after buying an additional 203 shares during the last quarter. 79.75% of the stock is owned by institutional investors and hedge funds.

Shares of Micron Technology (NASDAQ MU) traded up 0.33% on Thursday, hitting $30.20. The stock had a trading volume of 22,023,123 shares. The firm has a market cap of $33.52 billion, a price-to-earnings ratio of 13.26 and a beta of 1.78. Micron Technology has a 12-month low of $11.50 and a 12-month high of $32.96. The stock has a 50 day moving average of $30.40 and a 200 day moving average of $26.28.

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