Micron Technology (NASDAQ:MU) posted its earnings results on Wednesday. The semiconductor manufacturer reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07, MarketWatch Earnings reports. Micron Technology had a return on equity of 7.73% and a net margin of 12.54%. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis.
NASDAQ:MU traded down $1.67 on Friday, hitting $77.44. The company’s stock had a trading volume of 2,488,418 shares, compared to its average volume of 28,656,070. The company has a current ratio of 2.71, a quick ratio of 1.86 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $69.70 and a two-hundred day moving average of $54.71. The firm has a market capitalization of $86.49 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. Micron Technology has a one year low of $31.13 and a one year high of $80.08.
MU has been the subject of a number of research analyst reports. Mizuho boosted their target price on Micron Technology from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Friday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Micron Technology from $100.00 to $113.00 in a research note on Friday. The Goldman Sachs Group boosted their target price on Micron Technology from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, December 14th. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Finally, UBS Group reduced their price objective on Micron Technology from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $84.19.
In other news, SVP Joel L. Poppen sold 30,900 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $56.80, for a total value of $1,755,120.00. Following the transaction, the senior vice president now owns 335,558 shares of the company’s stock, valued at $19,059,694.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 27,640 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $55.00, for a total value of $1,520,200.00. Following the completion of the transaction, the executive vice president now directly owns 198,808 shares in the company, valued at approximately $10,934,440. The disclosure for this sale can be found here. Insiders sold 126,705 shares of company stock worth $7,658,336 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.
About Micron Technology
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.
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