Micron Technology (NASDAQ:MU) Issues Q4 Earnings Guidance

Micron Technology (NASDAQ:MU) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.00-1.16 for the period, compared to the consensus EPS estimate of $1.02. The company issued revenue guidance of $7.40-7.80 billion, compared to the consensus revenue estimate of $7.59 billion. Micron Technology also updated its Q4 2024 guidance to 1.000-1.160 EPS.

Micron Technology Stock Performance

MU opened at $142.36 on Thursday. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average price is $126.64 and its two-hundred day moving average price is $105.26. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54. The company has a market cap of $157.65 billion, a price-to-earnings ratio of -41.26 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the business posted ($1.57) EPS. The business’s revenue was up 81.5% compared to the same quarter last year. On average, analysts expect that Micron Technology will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MU. KeyCorp increased their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company an overweight rating in a research report on Thursday. Piper Sandler increased their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock an overweight rating in a report on Thursday. Cantor Fitzgerald increased their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock an overweight rating in a report on Monday, June 17th. Needham & Company LLC raised their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company a buy rating in a research note on Thursday. Finally, Argus raised shares of Micron Technology from a hold rating to a buy rating and set a $140.00 target price on the stock in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Micron Technology currently has an average rating of Moderate Buy and an average target price of $155.40.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares of the company’s stock, valued at $94,712,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the transaction, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,840 shares of company stock valued at $37,961,924. 0.32% of the stock is currently owned by company insiders.

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.