Analysts forecast that Micron Technology, Inc. (NASDAQ:MU) will post $0.46 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Micron Technology’s earnings, with estimates ranging from $0.44 to $0.56. Micron Technology posted earnings per share of $3.53 during the same quarter last year, which suggests a negative year-over-year growth rate of 87%. The business is expected to report its next earnings results on Thursday, September 19th.

On average, analysts expect that Micron Technology will report full year earnings of $6.22 per share for the current financial year, with EPS estimates ranging from $6.18 to $6.30. For the next year, analysts anticipate that the business will post earnings of $2.50 per share, with EPS estimates ranging from $1.12 to $3.93. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Micron Technology.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.30. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm posted $3.15 earnings per share. The company’s revenue was down 38.6% on a year-over-year basis.

MU has been the subject of several research reports. Goldman Sachs Group downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Nomura cut their target price on Micron Technology from $45.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Cfra lowered Micron Technology to a “sell” rating and set a $32.00 target price for the company. in a research note on Wednesday, May 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $50.00 target price on shares of Micron Technology in a research note on Wednesday, June 26th. Finally, Barclays upped their target price on Micron Technology from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.27.

In related news, insider Joel L. Poppen sold 654 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $45.64, for a total transaction of $29,848.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the executive vice president now owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,244 shares of company stock valued at $2,624,899. 0.20% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Micron Technology by 56.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,459,631 shares of the semiconductor manufacturer’s stock worth $1,136,847,000 after acquiring an additional 10,672,909 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Micron Technology by 154.2% in the second quarter. Renaissance Technologies LLC now owns 9,735,914 shares of the semiconductor manufacturer’s stock worth $375,709,000 after acquiring an additional 5,905,239 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Micron Technology by 508.8% in the second quarter. Nuveen Asset Management LLC now owns 4,993,986 shares of the semiconductor manufacturer’s stock worth $192,717,000 after acquiring an additional 4,173,660 shares during the last quarter. Viking Global Investors LP grew its stake in shares of Micron Technology by 180.9% in the second quarter. Viking Global Investors LP now owns 6,431,167 shares of the semiconductor manufacturer’s stock worth $248,179,000 after acquiring an additional 4,141,275 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its stake in shares of Micron Technology by 1,014.4% in the second quarter. Marshall Wace North America L.P. now owns 2,621,007 shares of the semiconductor manufacturer’s stock worth $101,145,000 after acquiring an additional 2,385,807 shares during the last quarter. Institutional investors own 77.42% of the company’s stock.

Shares of MU traded up $0.19 on Thursday, reaching $42.23. 1,880,613 shares of the company’s stock were exchanged, compared to its average volume of 29,181,244. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.88. The stock has a market cap of $46.50 billion, a PE ratio of 3.57 and a beta of 1.96. The stock’s 50 day simple moving average is $43.01. Micron Technology has a 12 month low of $28.39 and a 12 month high of $53.68.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Earnings History and Estimates for Micron Technology (NASDAQ:MU)

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