Micron Technology (NASDAQ:MU) Issues Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Micron Technology (NASDAQ:MU) announced its quarterly earnings data on Wednesday. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21, Briefing.com reports. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same period last year, the firm 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 1.8 %

Micron Technology stock traded down $1.99 during mid-day trading on Friday, reaching $107.89. 22,657,393 shares of the company’s stock were exchanged, compared to its average volume of 22,074,320. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54. The company has a fifty day moving average of $97.77 and a 200-day moving average of $114.60. 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 company has a market cap of $119.63 billion, a P/E ratio of -76.02, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid 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 payout ratio is -32.39%.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. KeyCorp reduced their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Citigroup decreased their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Morgan Stanley increased their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday. Susquehanna decreased their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday. Finally, Rosenblatt Securities lifted their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.