Micron Technology (NASDAQ:MU) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.40-$0.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.54. The company issued revenue guidance of $4.6-$5.2 billion, compared to the consensus revenue estimate of $4.88 billion.Micron Technology also updated its Q3 2020
After-Hours guidance to 0.40-0.70 EPS.
Shares of NASDAQ:MU opened at $42.50 on Thursday. The stock has a market cap of $47.95 billion, a PE ratio of 13.80, a PEG ratio of 1.99 and a beta of 1.78. The company’s fifty day moving average is $50.64 and its 200 day moving average is $50.13. Micron Technology has a 52 week low of $31.13 and a 52 week high of $61.19. The company has a quick ratio of 1.78, a current ratio of 2.56 and a debt-to-equity ratio of 0.16.
Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 25th. The semiconductor manufacturer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. The firm’s revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.71 EPS. Sell-side analysts anticipate that Micron Technology will post 2.12 EPS for the current year.
In other Micron Technology news, SVP Joel L. Poppen sold 20,000 shares of Micron Technology stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $56.97, for a total value of $1,139,400.00. Following the completion of the transaction, the senior vice president now directly owns 301,395 shares of the company’s stock, valued at $17,170,473.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP April S. Arnzen sold 4,400 shares of Micron Technology stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $54.75, for a total transaction of $240,900.00. The disclosure for this sale can be found here. Insiders sold 28,800 shares of company stock valued at $1,644,300 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.
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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