Micron Technology (NASDAQ:MU) Releases Earnings Results, Beats Estimates By $0.21 EPS

Micron Technology (NASDAQ:MU) posted its earnings results on Wednesday. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21, Briefing.com reports. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the company earned ($1.21) EPS. The company’s quarterly revenue was up 93.3% compared to the same quarter last year. Micron Technology updated its Q1 guidance to $1.66-$1.82 EPS and its Q1 2025 guidance to 1.660-1.820 EPS.

Micron Technology Trading Down 2.2 %

Shares of Micron Technology stock opened at $107.50 on Friday. The stock has a market cap of $119.20 billion, a PE ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The firm has a fifty day moving average price of $97.63 and a 200 day moving average price of $114.69. Micron Technology has a 1 year low of $63.83 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

Analyst Upgrades and Downgrades

MU has been the subject of several analyst reports. Cantor Fitzgerald raised their price objective on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Morgan Stanley lifted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday. Piper Sandler increased their target price on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Thursday. Finally, Stifel Nicolaus reduced their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.38.

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.