KeyCorp Comments on Micron Technology, Inc.’s Q4 2020 Earnings (NASDAQ:MU)

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Micron Technology, Inc. (NASDAQ:MU) – KeyCorp reduced their Q4 2020 earnings per share (EPS) estimates for Micron Technology in a research note issued on Wednesday, November 13th. KeyCorp analyst W. Twigg now expects that the semiconductor manufacturer will earn $0.92 per share for the quarter, down from their previous estimate of $0.94. KeyCorp currently has a “Overweight” rating and a $59.00 target price on the stock.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, September 26th. The semiconductor manufacturer reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.13. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The firm’s quarterly revenue was down 42.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.53 EPS.

Several other analysts have also recently commented on the company. Bank of America set a $60.00 price target on Micron Technology and gave the company a “buy” rating in a report on Thursday, September 26th. Nomura lifted their price target on Micron Technology from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 27th. JPMorgan Chase & Co. lifted their price target on Micron Technology from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Longbow Research restated a “buy” rating on shares of Micron Technology in a report on Tuesday, October 15th. Finally, Rosenblatt Securities set a $80.00 price target on Micron Technology and gave the company a “buy” rating in a report on Friday, September 27th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $53.46.

MU opened at $47.71 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.78. The stock has a market capitalization of $51.92 billion, a price-to-earnings ratio of 7.76 and a beta of 2.00. The business has a 50-day moving average of $45.80 and a two-hundred day moving average of $42.41. Micron Technology has a 12 month low of $28.39 and a 12 month high of $51.39.

Institutional investors have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC acquired a new position in Micron Technology during the 2nd quarter worth approximately $25,000. Doyle Wealth Management acquired a new position in Micron Technology during the 2nd quarter worth approximately $30,000. Whittier Trust Co. lifted its position in Micron Technology by 115.2% during the 3rd quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 425 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in Micron Technology during the 2nd quarter worth approximately $37,000. Finally, Griffin Asset Management Inc. acquired a new position in shares of Micron Technology in the 2nd quarter valued at approximately $39,000. 76.51% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the transaction, the executive vice president now directly owns 110,236 shares of the company’s stock, valued at approximately $5,511,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 2,491 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $112,095.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,484 shares of company stock valued at $2,439,568 in the last quarter. Company insiders own 0.20% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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