Analysts Anticipate Micron Technology, Inc. (MU) Will Post Quarterly Sales of $4.80 Billion
Brokerages expect Micron Technology, Inc. (NASDAQ:MU) to post $4.80 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Micron Technology’s earnings, with estimates ranging from $4.79 billion to $4.82 billion. Micron Technology reported sales of $7.80 billion in the same quarter last year, which indicates a negative year over year growth rate of 38.5%. The business is expected to announce its next quarterly earnings results on Wednesday, June 19th.
According to Zacks, analysts expect that Micron Technology will report full year sales of $23.51 billion for the current financial year, with estimates ranging from $23.22 billion to $23.75 billion. For the next financial year, analysts anticipate that the business will report sales of $21.57 billion, with estimates ranging from $19.30 billion to $23.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Micron Technology.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the previous year, the firm earned $2.82 EPS. Micron Technology’s revenue was down 20.6% on a year-over-year basis.
In related news, SVP April S. Arnzen sold 21,182 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total value of $834,358.98. Following the transaction, the senior vice president now owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 14,486 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $42.88, for a total value of $621,159.68. Following the completion of the transaction, the executive vice president now directly owns 150,236 shares in the company, valued at approximately $6,442,119.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,878 shares of company stock worth $2,293,223. Company insiders own 0.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. James Investment Research Inc. boosted its position in Micron Technology by 4.9% during the 4th quarter. James Investment Research Inc. now owns 394,680 shares of the semiconductor manufacturer’s stock valued at $12,524,000 after acquiring an additional 18,522 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Micron Technology by 7.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 165,535 shares of the semiconductor manufacturer’s stock valued at $5,252,000 after purchasing an additional 11,645 shares in the last quarter. Gabalex Capital Management LLC increased its stake in shares of Micron Technology by 200.0% in the 4th quarter. Gabalex Capital Management LLC now owns 300,000 shares of the semiconductor manufacturer’s stock valued at $9,519,000 after purchasing an additional 200,000 shares in the last quarter. Connable Office Inc. boosted its holdings in Micron Technology by 54.3% in the 4th quarter. Connable Office Inc. now owns 60,563 shares of the semiconductor manufacturer’s stock worth $1,922,000 after buying an additional 21,316 shares during the last quarter. Finally, Financial Gravity Wealth Inc. acquired a new stake in Micron Technology in the 1st quarter worth about $55,000. 77.42% of the stock is currently owned by institutional investors.
Shares of MU stock traded up $1.03 during midday trading on Friday, reaching $38.41. 15,868,677 shares of the company were exchanged, compared to its average volume of 30,528,156. Micron Technology has a 12 month low of $28.39 and a 12 month high of $64.66. The company has a market capitalization of $43.46 billion, a price-to-earnings ratio of 3.25 and a beta of 1.84. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10.
Micron Technology Company Profile
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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