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

Micron Technology (NASDAQ:MU) issued its quarterly 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. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the business earned ($1.21) EPS. Micron Technology’s revenue was up 93.3% on a year-over-year basis. 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

Shares of Micron Technology stock opened at $109.88 on Friday. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54. The stock has a market capitalization of $121.84 billion, a P/E ratio of -77.38, a PEG ratio of 0.20 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average price is $97.92 and its 200 day moving average price is $114.64.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. KeyCorp dropped their price objective on Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Cantor Fitzgerald increased their price objective on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Finally, TD Cowen increased their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.23.

About Micron Technology

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.