Micron Technology (NASDAQ:MU) Announces Earnings Results

Micron Technology (NASDAQ:MU) released its earnings results on Wednesday. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21, Briefing.com reports. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period last year, the company earned ($1.21) earnings per share. 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 NASDAQ:MU opened at $109.88 on Friday. The company’s 50 day moving average is $97.92 and its 200 day moving average is $114.64. The company has a market cap of $121.84 billion, a PE ratio of -77.38, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Robert W. Baird lifted their price target on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Raymond James increased their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler lifted their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, UBS Group dropped their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.23.

About Micron Technology

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.