Micron Technology (NASDAQ:MU) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Micron Technology (NASDAQ:MU) posted its earnings results on Wednesday. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21, Briefing.com reports. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.21) earnings per share. Micron Technology updated its Q1 guidance to $1.66-$1.82 EPS and its Q1 2025 guidance to 1.660-1.820 EPS.

Micron Technology Price Performance

Micron Technology stock traded down $1.99 during trading hours on Friday, hitting $107.89. The stock had a trading volume of 22,657,393 shares, compared to its average volume of 22,074,320. Micron Technology has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a market capitalization of $119.63 billion, a price-to-earnings ratio of -76.02, a PEG ratio of 0.20 and a beta of 1.17. The stock’s fifty day moving average is $97.77 and its two-hundred day moving average is $114.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio is presently -32.39%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MU shares. Bank of America increased their target price on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley raised their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Thursday. Robert W. Baird dropped their price target on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Raymond James increased their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

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.