Micron Technology (NASDAQ:MU – Get Free Report ) updated its fourth-quarter earnings guidance on Wednesday. The company issued earnings per share guidance of $1.00 to $1.16 for the period, compared to the consensus estimate of $1.02 per share. The company issued revenue guidance of $7.4 billion to $7.8 billion, compared to the consensus estimate of $7.59 billion. Micron Technology also updated its fourth-quarter 2024 guidance to 1.000 to 1.160 EPS.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Goldman Sachs Group raised their price target on Micron Technology from $138.00 to $158.00 and gave the stock a buy rating in a research report on Thursday. Mizuho raised their price target on Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a research report on Friday, May 31st. Raymond James raised their price target on Micron Technology from $130.00 to $160.00 and gave the company an outperform rating in a research report on Friday, June 21st. Piper Sandler raised their price target on Micron Technology from $130.00 to $150.00 and gave the company an overweight rating in a research report on Thursday. Finally, Bank of America increased their price objective on Micron Technology from $144.00 to $170.00 and gave the company a buy rating in a research report on Monday, June 17. Two investment analysts have rated the stock with a hold rating, and 25 have issued a buy rating. According to data from MarketBeat.com, Micron Technology currently has a moderate buy rating and an average price target of $158.52.
Get the latest stock analysis for Micron Technology
Micron Technology shares fell 0.5%
MU shares opened trading at $131.53 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology’s 12-month low and high are $60.50 and $157.54, respectively. The stock’s 50-day simple moving average is $128.07 and its 200-day simple moving average is $106.08.
Micron Technology (NASDAQ:MU – get free report ) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported quarterly earnings per share of $0.43, beating analysts’ consensus estimates of $0.38 by $0.05. The business’s quarterly revenue was $6.81 billion, beating analysts’ estimates of $6.67 billion. Micron Technology had a return on equity of -4.01% and a net margin of -7.20%. The company’s quarterly revenue grew 81.5% year-over-year. The company’s EPS during the same period last year was ($1.57). Sell-side analysts expect Micron Technology to post EPS of $0.36 for the year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be paid a dividend of $0.115. The ex-dividend date is Monday, July 8th. This equates to an annualized dividend of $0.46 and a yield of 0.35%. Micron Technology has a dividend payout ratio of -32.39%.
Insider trading
In other Micron Technology news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. With this transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC’s website. In other Micron Technology news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the Executive Vice President now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The transaction was disclosed in a SEC filing, which can be accessed through this hyperlink. Additionally, Executive Vice President Scott J. DeVore sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the Executive Vice President now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 304,840 shares of the company’s stock, valued at $37,961,924. 0.32% of the stock is owned by company insiders.
Micron Technology Company Profile
(Get your free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
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