Micron Technology (NASDAQ:MU) Releases Q4 2024 Earnings Guidance

Micron Technology (NASDAQ:MU) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.000-1.160 for the period, compared to the consensus EPS estimate of 1.050. The company issued revenue guidance of $7.4 billion-$7.8 billion, compared to the consensus revenue estimate of $7.6 billion. Micron Technology also updated its Q4 guidance to $1.00-1.16 EPS.

Analyst Ratings Changes

MU has been the subject of a number of recent research reports. Fox Advisors upgraded Micron Technology from an equal weight rating to an overweight rating in a research report on Thursday, March 21st. Barclays increased their price target on Micron Technology from $120.00 to $145.00 and gave the stock an overweight rating in a research report on Monday, May 13th. The Goldman Sachs Group increased their price target on Micron Technology from $122.00 to $138.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Wedbush increased their price objective on Micron Technology from $130.00 to $170.00 and gave the company an outperform rating in a research report on Tuesday, June 18th. Finally, UBS Group increased their price objective on Micron Technology from $125.00 to $155.00 and gave the company a buy rating in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Micron Technology presently has an average rating of Moderate Buy and an average price target of $155.80.

Micron Technology Stock Up 0.9 %

NASDAQ 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. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54. The company has a 50 day moving average of $126.64 and a 200-day moving average of $105.26. 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 announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 EPS for the quarter, beating 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 business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the business earned ($1.57) earnings per share. The company’s revenue was up 81.5% on a year-over-year basis. On average, equities research analysts expect that Micron Technology will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the sale, the chief executive officer now owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Sumit Sadana sold 12,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $123.01, for a total value of $1,476,120.00. Following the sale, the executive vice president now owns 218,048 shares in the company, valued at approximately $26,822,084.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the sale, the chief executive officer now owns 743,557 shares in the company, valued at approximately $90,780,874.13. The disclosure for this sale can be found here. Insiders have sold a total of 304,840 shares of company stock valued at $37,961,924 over the last 90 days. 0.32% of the stock is owned by 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.