Micron Technology (NASDAQ:MU) Posts Earnings Results, Beats Expectations By $0.21 EPS

Micron Technology (NASDAQ:MU) released its earnings results on Wednesday. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21, Briefing.com reports. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.21) EPS. 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 Stock Down 2.5 %

Shares of NASDAQ:MU traded down $2.73 during trading on Friday, hitting $107.15. The stock had a trading volume of 17,755,275 shares, compared to its average volume of 22,053,893. The company has a market capitalization of $118.81 billion, a PE ratio of -76.02, a PEG ratio of 0.20 and a beta of 1.17. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average is $97.77 and its 200 day moving average is $114.60. Micron Technology has a 12 month low of $63.83 and a 12 month high of $157.54.

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on MU. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Cantor Fitzgerald boosted their target price on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, June 17th. The Goldman Sachs Group increased their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company dropped their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Finally, Morgan Stanley raised their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently 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.