Micron Technology (NASDAQ:MU) Issues Q4 Earnings Guidance

Micron Technology (NASDAQ:MU) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.00-1.16 for the period, compared to the consensus EPS estimate of $1.02. The company issued revenue guidance of $7.40-7.80 billion, compared to the consensus revenue estimate of $7.59 billion. Micron Technology also updated its Q4 2024 guidance to 1.000-1.160 EPS.

Micron Technology Trading Down 0.5 %

Shares of Micron Technology stock opened at $131.53 on Friday. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29. Micron Technology has a 12-month low of $60.50 and a 12-month high of $157.54. The company has a 50-day simple moving average of $128.07 and a 200 day simple moving average of $106.08.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the company posted ($1.57) EPS. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. Analysts predict that Micron Technology will post 0.36 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. Bank of America lifted their price target on shares of Micron Technology from $144.00 to $170.00 and gave the stock a buy rating in a research report on Monday, June 17th. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $130.00 to $180.00 and gave the stock an overweight rating in a research note on Thursday. Rosenblatt Securities reissued a buy rating and set a $225.00 price objective on shares of Micron Technology in a research note on Tuesday. Fox Advisors raised shares of Micron Technology from an equal weight rating to an overweight rating in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald lifted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company an overweight rating in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $158.52.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,840 shares of company stock valued at $37,961,924. 0.32% of the stock is currently owned by company insiders.

Micron Technology Company Profile

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.