Micron Technology, Inc. Expected to Earn FY2019 Earnings of $6.08 Per Share (NASDAQ:MU)

Micron Technology, Inc. (NASDAQ:MU) – Equities research analysts at Piper Jaffray Companies lowered their FY2019 earnings estimates for shares of Micron Technology in a report issued on Tuesday, June 25th, according to Zacks Investment Research. Piper Jaffray Companies analyst H. Kumar now anticipates that the semiconductor manufacturer will earn $6.08 per share for the year, down from their previous estimate of $6.17. Piper Jaffray Companies has a “Neutral” rating and a $36.00 price target on the stock. Piper Jaffray Companies also issued estimates for Micron Technology’s Q2 2020 earnings at $0.87 EPS.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The company’s revenue was down 38.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.15 earnings per share.

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Nomura dropped their price target on Micron Technology from $45.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Bank of America raised their price target on Micron Technology from $45.00 to $60.00 and gave the stock an “average” rating in a research report on Thursday. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley set a $12.00 target price on Adient and gave the company a “sell” rating in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.77.

Shares of NASDAQ MU traded up $0.85 during mid-day trading on Friday, reaching $45.52. 39,297,375 shares of the company’s stock were exchanged, compared to its average volume of 35,867,592. The stock has a market capitalization of $49.31 billion, a price-to-earnings ratio of 3.85 and a beta of 1.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.88. The firm’s fifty day moving average is $37.19. Micron Technology has a twelve month low of $28.39 and a twelve month high of $56.14.

In other Micron Technology news, SVP April S. Arnzen sold 4,800 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $216,000.00. Following the completion of the transaction, the senior vice president now directly owns 79,392 shares in the company, valued at $3,572,640. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the executive vice president now owns 130,236 shares of the company’s stock, valued at $5,860,620. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Berman Capital Advisors LLC boosted its stake in shares of Micron Technology by 56.7% during the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 255 shares during the period. Gemmer Asset Management LLC boosted its stake in shares of Micron Technology by 49.9% during the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 235 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Micron Technology by 73.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 300 shares during the period. Executive Wealth Management LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $26,000. Finally, Citizens Financial Group Inc RI bought a new position in shares of Micron Technology during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Earnings History and Estimates for Micron Technology (NASDAQ:MU)

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