Micron Expertise (NASDAQ:MU) Declares Quarterly Earnings Outcomes, Beats Expectations By $0.05 EPS


Micron Expertise (NASDAQ:MU – Get Free Report) launched its quarterly earnings outcomes on Wednesday. The semiconductor producer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05, reviews. Micron Expertise had a adverse return on fairness of 4.01% and a adverse web margin of seven.20%. The corporate had income of $6.81 billion for the quarter, in comparison with analyst estimates of $6.67 billion. Throughout the identical quarter within the prior 12 months, the agency posted ($1.57) EPS. Micron Expertise’s quarterly income was up 81.5% in comparison with the identical quarter final 12 months. Micron Expertise up to date its This fall steerage to $1.00-1.16 EPS and its This fall 2024 steerage to 1.000-1.160 EPS.

Micron Expertise Buying and selling Down 0.5 %

Micron Expertise inventory opened at $131.53 on Friday. The corporate has a fast ratio of two.40, a present ratio of three.41 and a debt-to-equity ratio of 0.29. Micron Expertise has a 52 week low of $60.50 and a 52 week excessive of $157.54. The inventory has a 50-day shifting common worth of $128.07 and a 200 day shifting common worth of $106.08.

Micron Expertise Dividend Announcement

The corporate additionally not too long ago introduced a quarterly dividend, which will probably be paid on Tuesday, July twenty third. Traders of document on Monday, July eighth will probably be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized foundation and a dividend yield of 0.35%. The ex-dividend date is Monday, July eighth. Micron Expertise’s dividend payout ratio (DPR) is -32.39%.

Insider Shopping for and Promoting

In associated information, CEO Sanjay Mehrotra offered 34,284 shares of Micron Expertise inventory in a transaction that occurred on Tuesday, June 18th. The inventory was offered at a median worth of $152.28, for a complete transaction of $5,220,767.52. Following the completion of the transaction, the chief government officer now immediately owns 719,049 shares within the firm, valued at $109,496,781.72. The sale was disclosed in a doc filed with the SEC, which may be accessed via this hyperlink. In different information, SVP Michael W. Bokan offered 15,000 shares of the enterprise’s inventory in a transaction that occurred on Tuesday, Could 14th. The inventory was offered at a median worth of $123.42, for a complete worth of $1,851,300.00. Following the completion of the sale, the senior vp now immediately owns 138,387 shares within the firm, valued at $17,079,723.54. The transaction was disclosed in a doc filed with the Securities & Trade Fee, which may be accessed via this hyperlink. Additionally, CEO Sanjay Mehrotra offered 34,284 shares of the enterprise’s inventory in a transaction that occurred on Tuesday, June 18th. The shares had been offered at a median worth of $152.28, for a complete worth of $5,220,767.52. Following the completion of the sale, the chief government officer now owns 719,049 shares of the corporate’s inventory, valued at $109,496,781.72. The disclosure for this sale may be discovered right here. Insiders offered 304,840 shares of firm inventory valued at $37,961,924 during the last quarter. 0.32% of the inventory is at the moment owned by firm insiders.

Institutional Buying and selling of Micron Expertise

Institutional traders have not too long ago made adjustments to their positions within the firm. Keynote Monetary Companies LLC acquired a brand new place in Micron Expertise throughout the first quarter value $789,000. EverSource Wealth Advisors LLC boosted its stake in Micron Expertise by 15.3% throughout the first quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor producer’s inventory value $507,000 after shopping for an extra 596 shares over the past quarter. Westwood Holdings Group Inc. acquired a brand new place in Micron Expertise throughout the first quarter value $8,558,000. EULAV Asset Administration boosted its stake in Micron Expertise by 12.1% throughout the first quarter. EULAV Asset Administration now owns 37,000 shares of the semiconductor producer’s inventory value $4,362,000 after shopping for an extra 4,000 shares over the past quarter. Lastly, Soltis Funding Advisors LLC acquired a brand new place in Micron Expertise throughout the first quarter value $245,000. 80.84% of the inventory is owned by institutional traders and hedge funds.

Wall Avenue Analysts Forecast Progress

MU has been the subject of a number of current analysis reviews. Cantor Fitzgerald elevated their worth goal on Micron Expertise from $150.00 to $180.00 and gave the corporate an “obese” score in a report on Monday, June seventeenth. Robert W. Baird elevated their goal worth on Micron Expertise from $150.00 to $172.00 and gave the inventory an “outperform” score in a analysis observe on Monday, June twenty fourth. Barclays elevated their goal worth on Micron Expertise from $120.00 to $145.00 and gave the inventory an “obese” score in a analysis observe on Monday, Could thirteenth. Citigroup elevated their goal worth on Micron Expertise from $150.00 to $175.00 and gave the inventory a “purchase” score in a analysis observe on Monday, June twenty fourth. Lastly, Raymond James elevated their goal worth on Micron Expertise from $130.00 to $160.00 and gave the inventory an “outperform” score in a analysis observe on Friday, June twenty first. Two equities analysis analysts have rated the inventory with a maintain score and twenty-five have issued a purchase score to the corporate’s inventory. In keeping with MarketBeat, the corporate at the moment has a median score of “Average Purchase” and a median goal worth of $158.52.

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Micron Expertise Firm Profile

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Micron Expertise, Inc designs, develops, manufactures, and sells reminiscence and storage merchandise worldwide. The corporate operates via 4 segments: Compute and Networking Enterprise Unit, Cell Enterprise Unit, Embedded Enterprise Unit, and Storage Enterprise Unit. It offers reminiscence and storage applied sciences comprising dynamic random entry reminiscence semiconductor units with low latency that present high-speed knowledge retrieval; non-volatile and re-writeable semiconductor storage units; and non-volatile re-writable semiconductor reminiscence units that present quick learn speeds below the Micron and Essential manufacturers, in addition to via non-public labels.

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Earnings History for Micron Technology (NASDAQ:MU)



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