Micron Technology (NASDAQ:MU) Updates Q1 Earnings Guidance

Micron Technology (NASDAQ:MU) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.66-$1.82 for the period, compared to the consensus estimate of $1.52. The company issued revenue guidance of $8.50-$8.90 billion, compared to the consensus revenue estimate of $8.27 billion. Micron Technology also updated its Q1 2025 guidance to 1.660-1.820 EPS.

Micron Technology Price Performance

Shares of MU stock opened at $107.50 on Friday. The firm has a fifty day moving average of $97.63 and a two-hundred day moving average of $114.69. The firm has a market cap of $119.20 billion, a P/E ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. 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 (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates 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 was up 93.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.21) EPS. As a group, research analysts anticipate that Micron Technology will post 0.61 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 Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analysts Set New Price Targets

A number of research analysts recently commented on MU shares. Mizuho upped their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a buy rating in a research note on Friday, May 31st. Citigroup reduced their price target on shares of Micron Technology from $175.00 to $150.00 and set a buy rating for the company in a report on Tuesday, September 17th. Robert W. Baird dropped their price objective on shares of Micron Technology from $172.00 to $150.00 and set an outperform rating on the stock in a report on Friday. BNP Paribas downgraded shares of Micron Technology from an outperform rating to an underperform rating and cut their price objective for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, TD Cowen upped their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a buy rating in a research report on Thursday. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $144.38.

About Micron Technology

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.