Equities analysts predict that Micron Technology, Inc. (NASDAQ:MU) will post earnings of $2.92 per share for the current quarter, Zacks reports. Six analysts have issued estimates for Micron Technology’s earnings, with the lowest EPS estimate coming in at $2.84 and the highest estimate coming in at $3.00. Micron Technology reported earnings of $2.45 per share during the same quarter last year, which indicates a positive year over year growth rate of 19.2%. The firm is scheduled to issue its next earnings report on Tuesday, December 18th.

According to Zacks, analysts expect that Micron Technology will report full year earnings of $10.46 per share for the current year, with EPS estimates ranging from $8.98 to $11.56. For the next year, analysts anticipate that the company will post earnings of $9.40 per share, with EPS estimates ranging from $4.48 to $11.77. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Micron Technology.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.20. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same period in the previous year, the company posted $2.02 EPS. The firm’s revenue was up 37.5% compared to the same quarter last year.

MU has been the subject of a number of recent research reports. Benchmark initiated coverage on Micron Technology in a report on Friday, June 22nd. They set a “buy” rating and a $80.00 price objective for the company. UBS Group raised Micron Technology from a “sell” rating to a “neutral” rating and set a $35.00 price objective for the company in a report on Tuesday, June 26th. ValuEngine lowered Micron Technology from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Stifel Nicolaus set a $108.00 price objective on Micron Technology and gave the stock a “buy” rating in a report on Thursday, July 5th. Finally, Goldman Sachs Group set a $68.00 price objective on Micron Technology and gave the stock a “buy” rating in a report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.42.

Hedge funds have recently added to or reduced their stakes in the company. Brasada Capital Management LP grew its holdings in shares of Micron Technology by 100.0% in the first quarter. Brasada Capital Management LP now owns 2,000 shares of the semiconductor manufacturer’s stock valued at $104,000 after acquiring an additional 1,000 shares in the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of Micron Technology by 411.8% in the second quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock valued at $105,000 after acquiring an additional 1,606 shares in the last quarter. Credit Agricole S A grew its holdings in shares of Micron Technology by 199,900.0% in the second quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock valued at $105,000 after acquiring an additional 1,999 shares in the last quarter. First Manhattan Co. lifted its stake in Micron Technology by 211.1% in the third quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock valued at $126,000 after purchasing an additional 1,900 shares during the last quarter. Finally, America First Investment Advisors LLC purchased a new position in Micron Technology in the second quarter valued at approximately $131,000. 74.15% of the stock is owned by institutional investors.

Micron Technology stock traded down $0.85 during midday trading on Friday, reaching $40.45. The stock had a trading volume of 28,617,009 shares, compared to its average volume of 35,837,112. Micron Technology has a 12 month low of $37.52 and a 12 month high of $64.66. The firm has a market capitalization of $46.84 billion, a price-to-earnings ratio of 3.42, a PEG ratio of 0.63 and a beta of 1.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.06.

About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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

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