Micron Technology (NASDAQ:MU) issued its quarterly earnings data on Wednesday. The semiconductor manufacturer reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08, MarketWatch Earnings reports. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Micron Technology had a return on equity of 11.36% and a net margin of 17.01%. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 EPS. Micron Technology updated its Q3 2020
After-Hours guidance to 0.40-0.70 EPS and its Q3 guidance to $0.40-$0.70 EPS.
MU stock opened at $42.50 on Thursday. Micron Technology has a 1-year low of $31.13 and a 1-year high of $61.19. The business has a fifty day moving average price of $50.64 and a 200-day moving average price of $50.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 1.78. The stock has a market capitalization of $47.95 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.99 and a beta of 1.78.
Several research firms have weighed in on MU. Wedbush raised Micron Technology from a “neutral” rating to an “outperform” rating and raised their price target for the company from $44.00 to $65.00 in a report on Tuesday, December 17th. Cleveland Research raised Micron Technology from a “neutral” rating to a “buy” rating in a report on Tuesday, January 14th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $66.00 price target (up previously from $59.00) on shares of Micron Technology in a report on Thursday, December 19th. They noted that the move was a valuation call. Raymond James raised Micron Technology from a “market perform” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a report on Thursday, February 6th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $65.00 price target (up previously from $55.00) on shares of Micron Technology in a report on Thursday, December 19th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $62.57.
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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