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

Micron Technology (NASDAQ:MU) announced its quarterly earnings results on Wednesday. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the prior year, the company posted ($1.21) earnings per share. The company’s quarterly 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 Stock Performance

Shares of NASDAQ MU opened at $109.88 on Friday. Micron Technology has a 52-week low of $63.83 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm’s fifty day moving average is $97.92 and its two-hundred day moving average is $114.64. The company has a market cap of $121.84 billion, a P/E ratio of -77.38, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Morgan Stanley increased their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday. Mizuho raised their price target on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Citigroup reduced their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, Piper Sandler raised their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.