$3.30 EPS Expected for Micron Technology, Inc. (MU) This Quarter

Wall Street brokerages expect Micron Technology, Inc. (NASDAQ:MU) to post earnings per share (EPS) of $3.30 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Micron Technology’s earnings, with the highest EPS estimate coming in at $3.33 and the lowest estimate coming in at $3.28. Micron Technology posted earnings per share of $2.02 during the same quarter last year, which would indicate a positive year-over-year growth rate of 63.4%. The company is scheduled to announce its next quarterly earnings results on Tuesday, September 25th.

According to Zacks, analysts expect that Micron Technology will report full-year earnings of $11.72 per share for the current financial year, with EPS estimates ranging from $11.70 to $11.76. For the next financial year, analysts expect that the company will post earnings of $11.30 per share, with EPS estimates ranging from $8.74 to $12.65. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Micron Technology.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 20th. The semiconductor manufacturer reported $3.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.13 by $0.02. The business had revenue of $7.80 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Micron Technology had a net margin of 43.35% and a return on equity of 51.12%. The firm’s revenue for the quarter was up 40.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 EPS.

Several equities research analysts have recently commented on MU shares. BidaskClub raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, June 21st. Rosenblatt Securities increased their price target on shares of Micron Technology to $120.00 in a research note on Thursday, June 21st. ValuEngine lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Cowen increased their price target on shares of Micron Technology from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, June 21st. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $72.05.

NASDAQ:MU opened at $53.39 on Monday. Micron Technology has a 12 month low of $26.85 and a 12 month high of $64.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 2.06. The stock has a market capitalization of $61.09 billion, a PE ratio of 12.11, a P/E/G ratio of 0.56 and a beta of 1.61.

Micron Technology announced that its board has authorized a share repurchase plan on Monday, May 21st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 16.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

In other Micron Technology news, Director Robert E. Switz sold 75,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $53.34, for a total transaction of $4,000,500.00. Following the completion of the sale, the director now directly owns 120,257 shares in the company, valued at approximately $6,414,508.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $55.09, for a total transaction of $2,203,600.00. Following the sale, the senior vice president now owns 126,990 shares of the company’s stock, valued at $6,995,879.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,795 shares of company stock valued at $9,141,390. 0.53% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Gideon Capital Advisors Inc. boosted its holdings in shares of Micron Technology by 209.9% during the 1st quarter. Gideon Capital Advisors Inc. now owns 62,336 shares of the semiconductor manufacturer’s stock valued at $3,250,000 after acquiring an additional 42,223 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Micron Technology by 0.5% during the 1st quarter. Rhumbline Advisers now owns 1,947,554 shares of the semiconductor manufacturer’s stock valued at $101,545,000 after acquiring an additional 10,158 shares during the last quarter. James Investment Research Inc. boosted its holdings in shares of Micron Technology by 18.2% during the 2nd quarter. James Investment Research Inc. now owns 437,224 shares of the semiconductor manufacturer’s stock valued at $22,928,000 after acquiring an additional 67,196 shares during the last quarter. Malaga Cove Capital LLC boosted its holdings in shares of Micron Technology by 37.9% during the 2nd quarter. Malaga Cove Capital LLC now owns 19,907 shares of the semiconductor manufacturer’s stock valued at $1,044,000 after acquiring an additional 5,469 shares during the last quarter. Finally, Berkshire Capital Holdings Inc. purchased a new stake in shares of Micron Technology during the 1st quarter valued at about $4,443,000. Institutional investors and hedge funds own 77.94% of the company’s stock.

About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

Further Reading: Price to Earnings Ratio (PE)

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Earnings History and Estimates for Micron Technology (NASDAQ:MU)

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