Micron Technology (MU) Announces Earnings Results, Beats Estimates By $0.60 EPS
Micron Technology (NASDAQ:MU) announced its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60, Bloomberg Earnings reports. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. Micron Technology’s quarterly revenue was up 71.4% on a year-over-year basis. Micron Technology updated its Q2 guidance to $2.51-2.65 EPS.
Shares of Micron Technology (NASDAQ MU) opened at $43.98 on Wednesday. The company has a market capitalization of $50,584.66, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. Micron Technology has a 12 month low of $20.34 and a 12 month high of $49.89.
Several analysts have weighed in on the company. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. Morgan Stanley upped their target price on Micron Technology from $39.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 27th. Robert W. Baird reissued an “outperform” rating and issued a $60.00 target price (up previously from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 target price on the stock in a report on Tuesday, November 21st. Finally, Cowen reissued a “buy” rating and issued a $50.00 target price on shares of Micron Technology in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $48.26.
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Micron Technology Company Profile
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