FY2025 EPS Estimate for Micron Technology Boosted by Analyst

Micron Technology, Inc. (NASDAQ:MU - Free Report) - Investment analysts at Cantor Fitzgerald boosted their FY2025 EPS estimates for shares of Micron Technology in a research note issued to investors on Monday, March 31st. Cantor Fitzgerald analyst C. Muse now expects that the semiconductor manufacturer will earn $6.26 per share for the year, up from their previous estimate of $6.17. Cantor Fitzgerald has a "Overweight" rating and a $130.00 price target on the stock. The consensus estimate for Micron Technology's current full-year earnings is $6.08 per share.

Several other equities analysts have also recently weighed in on MU. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Needham & Company LLC cut their target price on Micron Technology from $140.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. Wells Fargo & Company decreased their target price on Micron Technology from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Bank of America downgraded Micron Technology from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $129.76.

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Micron Technology Price Performance

Shares of NASDAQ:MU traded down $14.14 during midday trading on Tuesday, reaching $74.46. 36,073,365 shares of the company were exchanged, compared to its average volume of 22,773,498. The stock has a market cap of $83.21 billion, a PE ratio of 21.51 and a beta of 1.23. The business's fifty day moving average is $94.80 and its two-hundred day moving average is $98.42. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology has a one year low of $74.45 and a one year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is presently 11.03%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

A number of institutional investors have recently bought and sold shares of the business. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the fourth quarter worth $26,000. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 296 shares during the period. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at about $33,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Micron Technology in the fourth quarter worth about $34,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.