Micron Technology (MU) to Release Quarterly Earnings on Wednesday

Micron Technology (NASDAQ:MU) will be releasing its earnings data after the market closes on Wednesday, June 26th. Analysts expect Micron Technology to post earnings of $0.50 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Micron Technology Price Performance

Shares of MU opened at $139.01 on Tuesday. The business’s fifty day moving average is $126.26 and its 200 day moving average is $104.80. Micron Technology has a 12-month low of $60.50 and a 12-month high of $157.54. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The stock has a market cap of $153.94 billion, a P/E ratio of -40.29 and a beta of 1.21.

Insider Buying and Selling

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the transaction, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 309,730 shares of company stock worth $38,545,301. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MU. The Goldman Sachs Group raised their price objective on Micron Technology from $122.00 to $138.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Barclays boosted their target price on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, Susquehanna increased their price target on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a research report on Monday, June 17th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.60.

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.