Micron Technology (MU) to Release Earnings on Wednesday

Micron Technology (NASDAQ:MU) will issue its quarterly earnings data after the market closes on Wednesday, September 25th. Analysts expect the company to announce earnings of $0.97 per share for the quarter. Micron Technology has set its Q4 guidance at $1.00-1.16 EPS and its Q4 2024 guidance at 1.000-1.160 EPS.Investors that are 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, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 81.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.57) earnings per share. On average, analysts expect Micron Technology to post $1 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Micron Technology Stock Performance

NASDAQ MU opened at $93.57 on Tuesday. The firm has a market capitalization of $103.75 billion, a P/E ratio of -65.89 and a beta of 1.17. The stock has a 50-day simple moving average of $99.06 and a two-hundred day simple moving average of $114.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology has a fifty-two week low of $63.83 and a fifty-two week high of $157.54.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. TD Cowen decreased their price objective on shares of Micron Technology from $160.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Finally, Raymond James lowered their price target on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.65.

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.