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

by · The Markets Daily

Micron Technology (NASDAQ:MU – Get Free Report) released 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 return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the firm posted ($1.21) EPS. The business’s revenue for the quarter 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 Price Performance

Shares of MU opened at $107.50 on Friday. Micron Technology has a one year low of $63.83 and a one year high of $157.54. The stock’s fifty day moving average is $97.77 and its 200-day moving average is $114.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a market capitalization of $119.20 billion, a price-to-earnings ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MU shares. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday. Wolfe Research increased their price target on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. TD Cowen raised their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho upped their target price on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.38.

View Our Latest Analysis on MU

About Micron Technology

(Get Free Report)

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.

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