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MSFT   323.73 (+0.22%)
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GOOGL   2,851.48 (+0.40%)
AMZN   3,441.74 (+1.53%)
TSLA   992.16 (-2.25%)
NVDA   293.72 (-4.30%)
BABA   120.20 (+7.36%)
NIO   32.03 (-0.37%)
CGC   9.96 (-0.30%)
AMD   136.06 (-5.52%)
GE   96.72 (+4.26%)
MU   82.26 (+0.78%)
T   23.53 (+0.30%)
F   19.28 (+0.73%)
DIS   150.00 (+2.59%)
PFE   52.36 (-3.52%)
AMC   28.55 (-1.59%)
ACB   5.86 (+0.69%)
BA   205.92 (+3.74%)
S&P 500   4,593.00 (+1.20%)
DOW   35,237.55 (+1.90%)
QQQ   384.85 (+0.45%)
AAPL   166.28 (+2.74%)
MSFT   323.73 (+0.22%)
FB   315.65 (+2.87%)
GOOGL   2,851.48 (+0.40%)
AMZN   3,441.74 (+1.53%)
TSLA   992.16 (-2.25%)
NVDA   293.72 (-4.30%)
BABA   120.20 (+7.36%)
NIO   32.03 (-0.37%)
CGC   9.96 (-0.30%)
AMD   136.06 (-5.52%)
GE   96.72 (+4.26%)
MU   82.26 (+0.78%)
T   23.53 (+0.30%)
F   19.28 (+0.73%)
DIS   150.00 (+2.59%)
PFE   52.36 (-3.52%)
AMC   28.55 (-1.59%)
ACB   5.86 (+0.69%)
BA   205.92 (+3.74%)
S&P 500   4,593.00 (+1.20%)
DOW   35,237.55 (+1.90%)
QQQ   384.85 (+0.45%)
AAPL   166.28 (+2.74%)
MSFT   323.73 (+0.22%)
FB   315.65 (+2.87%)
GOOGL   2,851.48 (+0.40%)
AMZN   3,441.74 (+1.53%)
TSLA   992.16 (-2.25%)
NVDA   293.72 (-4.30%)
BABA   120.20 (+7.36%)
NIO   32.03 (-0.37%)
CGC   9.96 (-0.30%)
AMD   136.06 (-5.52%)
GE   96.72 (+4.26%)
MU   82.26 (+0.78%)
T   23.53 (+0.30%)
F   19.28 (+0.73%)
DIS   150.00 (+2.59%)
PFE   52.36 (-3.52%)
AMC   28.55 (-1.59%)
ACB   5.86 (+0.69%)
BA   205.92 (+3.74%)

Micron Technology, Inc. (NASDAQ:MU) Expected to Announce Quarterly Sales of $7.66 Billion

Last updated on Thursday, November 18, 2021 | 2021 MarketBeat

Analysts expect that Micron Technology, Inc. (NASDAQ:MU) will report $7.66 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Micron Technology's earnings, with the highest sales estimate coming in at $7.67 billion and the lowest estimate coming in at $7.65 billion. Micron Technology posted sales of $5.77 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 32.8%. The company is scheduled to report its next earnings report after the market closes on Monday, December 20th.

On average, analysts expect that Micron Technology will report full-year sales of $31.34 billion for the current financial year, with estimates ranging from $30.07 billion to $32.67 billion. For the next fiscal year, analysts forecast that the firm will report sales of $35.60 billion, with estimates ranging from $32.17 billion to $37.08 billion. Zacks Investment Research's sales averages are a mean average based on a survey of research firms that follow Micron Technology.

Micron Technology (NASDAQ:MU) last issued its earnings results on Monday, September 27th. The semiconductor manufacturer reported $2.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $2.33 by $0.09. The business had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.21 billion. Micron Technology had a return on equity of 15.98% and a net margin of 21.16%. Micron Technology's revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share.

A number of equities analysts recently commented on the company. Barclays decreased their target price on Micron Technology from $110.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, September 29th. JPMorgan Chase & Co. decreased their target price on Micron Technology from $140.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, September 24th. UBS Group decreased their target price on Micron Technology from $95.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, September 29th. Morgan Stanley restated a "hold" rating and set a $75.00 target price on shares of Micron Technology in a report on Wednesday, September 29th. Finally, The Goldman Sachs Group decreased their target price on Micron Technology from $104.00 to $88.00 and set a "buy" rating for the company in a report on Thursday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $103.31.

NASDAQ:MU opened at $75.46 on Thursday. The firm has a market cap of $84.41 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.38 and a beta of 1.20. Micron Technology has a fifty-two week low of $59.65 and a fifty-two week high of $96.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.10. The business has a 50 day moving average price of $71.62 and a 200-day moving average price of $76.02.

In other news, SVP April S. Arnzen sold 8,300 shares of the firm's stock in a transaction dated Friday, September 24th. The shares were sold at an average price of $73.32, for a total value of $608,556.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joel L. Poppen sold 4,984 shares of the firm's stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $74.39, for a total transaction of $370,759.76. The disclosure for this sale can be found here. Insiders have sold 18,268 shares of company stock valued at $1,327,448 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MU. SkyView Investment Advisors LLC increased its stake in shares of Micron Technology by 0.8% in the 1st quarter. SkyView Investment Advisors LLC now owns 15,711 shares of the semiconductor manufacturer's stock worth $1,386,000 after acquiring an additional 129 shares during the last quarter. Tarbox Family Office Inc. increased its position in shares of Micron Technology by 2.2% during the 2nd quarter. Tarbox Family Office Inc. now owns 6,173 shares of the semiconductor manufacturer's stock worth $525,000 after purchasing an additional 134 shares during the last quarter. Clarius Group LLC increased its position in shares of Micron Technology by 1.1% during the 2nd quarter. Clarius Group LLC now owns 11,798 shares of the semiconductor manufacturer's stock worth $1,003,000 after purchasing an additional 134 shares during the last quarter. Savant Capital LLC increased its position in shares of Micron Technology by 2.1% during the 2nd quarter. Savant Capital LLC now owns 6,681 shares of the semiconductor manufacturer's stock worth $568,000 after purchasing an additional 135 shares during the last quarter. Finally, Marcum Wealth LLC increased its position in shares of Micron Technology by 4.3% during the 3rd quarter. Marcum Wealth LLC now owns 3,283 shares of the semiconductor manufacturer's stock worth $233,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Further Reading: Mutual Funds

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Earnings History and Estimates for Micron Technology (NASDAQ:MU)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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