Micron Technology (MU) Issues Q2 Earnings Guidance

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Micron Technology (NASDAQ:MU) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.65-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.45. The company issued revenue guidance of $5.7-6.3 billion, compared to the consensus revenue estimate of $7.18 billion.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Micron Technology from a hold rating to a sell rating in a research report on Wednesday, November 21st. Piper Jaffray Companies reduced their price target on shares of Micron Technology to $36.00 and set a neutral rating on the stock in a research report on Wednesday. MKM Partners cut their price objective on shares of Micron Technology from $50.00 to $44.00 and set a buy rating on the stock in a research report on Wednesday. KeyCorp restated a hold rating and set a $45.00 price target (down from $61.00) on shares of Micron Technology in a research report on Wednesday. Finally, Barclays set a $46.00 price objective on shares of Micron Technology and gave the stock a buy rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $58.83.

Shares of Micron Technology stock opened at $31.41 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11. Micron Technology has a 1-year low of $31.27 and a 1-year high of $64.66. The firm has a market capitalization of $38.21 billion, a PE ratio of 2.66, a PEG ratio of 0.56 and a beta of 1.63.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.07. Micron Technology had a net margin of 46.82% and a return on equity of 50.62%. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the previous year, the company earned $2.45 earnings per share. As a group, analysts anticipate that Micron Technology will post 9.59 EPS for the current year.

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About Micron Technology

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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