Micron Technology (NASDAQ:MU) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.40-$0.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.54. The company issued revenue guidance of $4.6-$5.2 billion, compared to the consensus revenue estimate of $4.88 billion.Micron Technology also updated its Q3 2020
After-Hours guidance to 0.40-0.70 EPS.

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Micron Technology from $73.00 to $52.50 and set an overweight rating on the stock in a research note on Wednesday, March 18th. Deutsche Bank reissued a buy rating and issued a $65.00 target price (up previously from $55.00) on shares of Micron Technology in a research note on Thursday, December 19th. They noted that the move was a valuation call. Credit Suisse Group reissued a buy rating and issued a $90.00 target price on shares of Micron Technology in a research note on Monday. Cleveland Research raised shares of Micron Technology from a neutral rating to a buy rating in a research note on Tuesday, January 14th. Finally, Citigroup increased their target price on shares of Micron Technology from $35.00 to $38.00 and gave the company a sell rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology has a consensus rating of Buy and an average price target of $62.57.

Shares of Micron Technology stock opened at $42.50 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 1.78. Micron Technology has a 1 year low of $31.13 and a 1 year high of $61.19. The firm’s 50-day moving average is $50.64 and its two-hundred day moving average is $50.13. The stock has a market cap of $47.95 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.99 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 25th. The semiconductor manufacturer reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.69 billion. During the same period in the prior year, the business earned $1.71 EPS. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. On average, equities analysts expect that Micron Technology will post 2.12 earnings per share for the current year.

In other Micron Technology news, SVP Joel L. Poppen sold 20,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $56.97, for a total transaction of $1,139,400.00. Following the transaction, the senior vice president now directly owns 301,395 shares in the company, valued at approximately $17,170,473.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 4,400 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $54.75, for a total transaction of $240,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,800 shares of company stock worth $1,644,300. 0.18% of the stock is owned by company insiders.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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