Micron Technology (NASDAQ:MU) announced its quarterly earnings results on Tuesday. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.60, Bloomberg Earnings reports. Micron Technology had a return on equity of 45.63% and a net margin of 32.77%. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the previous year, the company posted $0.32 earnings per share. Micron Technology’s revenue for the quarter was up 71.4% on a year-over-year basis. Micron Technology updated its Q2 guidance to $2.51-2.65 EPS.

Shares of Micron Technology (NASDAQ MU) opened at $45.75 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $50,897.13, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75. Micron Technology has a twelve month low of $20.34 and a twelve month high of $49.89.

In other Micron Technology news, insider Joel L. Poppen sold 80,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $38.61, for a total value of $3,088,800.00. Following the completion of the sale, the insider now directly owns 266,966 shares in the company, valued at approximately $10,307,557.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 13,694 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.00, for a total value of $520,372.00. Following the completion of the sale, the executive vice president now owns 153,926 shares of the company’s stock, valued at $5,849,188. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,588 shares of company stock valued at $10,480,038. 0.53% of the stock is owned by company insiders.

Several research analysts have recently weighed in on MU shares. Zacks Investment Research downgraded Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Morgan Stanley upped their target price on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 target price for the company in a research note on Tuesday, November 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price (up from $75.00) on shares of Micron Technology in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. Micron Technology presently has a consensus rating of “Buy” and an average target price of $52.62.

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About Micron Technology

Earnings History for Micron Technology (NASDAQ:MU)

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