Micron Technology (MU) Releases Q2 Earnings Guidance
Micron Technology (NASDAQ:MU) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.51-2.65 for the period, compared to the Thomson Reuters consensus estimate of $2.04. The company issued revenue guidance of $6.80-7.20 billion, compared to the consensus revenue estimate of $6.21 billion.
Shares of Micron Technology (MU) traded up $0.27 during trading on Tuesday, hitting $43.98. 50,024,244 shares of the stock traded hands, compared to its average volume of 30,083,689. Micron Technology has a fifty-two week low of $20.19 and a fifty-two week high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. The firm has a market cap of $50,900.00, a PE ratio of 9.55, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. Micron Technology’s quarterly revenue was up 71.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. analysts expect that Micron Technology will post 7.42 earnings per share for the current year.
In other news, EVP Scott J. Deboer sold 13,694 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 153,926 shares in the company, valued at approximately $5,849,188. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the completion of the transaction, the senior vice president now owns 289,940 shares of the company’s stock, valued at approximately $11,046,714. The disclosure for this sale can be found here. Insiders sold a total of 268,588 shares of company stock valued at $10,480,038 in the last quarter. Insiders own 0.53% of the company’s stock.
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