Micron Technology (NASDAQ:MU) Announces Quarterly Earnings Results

Micron Technology (NASDAQ:MU - Get Free Report) issued its quarterly earnings data on Wednesday. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.21, Briefing.com reports. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the firm earned ($1.21) EPS. The company's revenue was up 93.3% on a year-over-year basis. 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 Up 14.7 %

NASDAQ MU traded up $14.11 during trading on Thursday, hitting $109.88. The stock had a trading volume of 107,482,727 shares, compared to its average volume of 22,074,406. The company has a market capitalization of $121.84 billion, a PE ratio of -76.78, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology has a 12 month low of $63.83 and a 12 month high of $157.54. The company's 50-day moving average price is $97.92 and its two-hundred day moving average price is $114.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders 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 0.42%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology's dividend payout ratio is -32.39%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MU shares. Susquehanna dropped their price objective 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. Cantor Fitzgerald boosted their target price on Micron Technology from $150.00 to $180.00 and gave the stock an "overweight" rating in a research report on Monday, June 17th. UBS Group decreased their price target on Micron Technology from $153.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. The Goldman Sachs Group boosted their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a "buy" rating in a report on Thursday, June 27th. Finally, Stifel Nicolaus reduced their target price on shares of Micron Technology from $165.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $145.23.

Micron Technology Company Profile

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.