Micron Technology Company Profile (NASDAQ:MU)

Micron Technology trades on the NASDAQ under the ticker symbol "MU."

Micron Technology, Inc. (NASDAQ:MU) announced its quarterly earnings data on Thursday, March, 23rd. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.84 by $0.06. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.65 billion. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. Micron Technology's quarterly revenue was up 58.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. View Micron Technology's Earnings History.

Micron Technology is scheduled to release their next quarterly earnings announcement on Wednesday, June, 28th 2017. View Earnings Estimates for Micron Technology.

Micron Technology issued an update on its third quarter earnings guidance on Thursday, March, 23rd. The company provided EPS guidance of $1.43-1.57 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.93. The company issued revenue guidance of $5.2-5.6 billion, compared to the consensus revenue estimate of $4.52 billion.

31 brokerages have issued 1-year target prices for Micron Technology's stock. Their predictions range from $9.00 to $40.00. On average, they expect Micron Technology's stock price to reach $31.32 in the next year. View Analyst Ratings for Micron Technology.

Here are some recent quotes from research analysts about Micron Technology stock:

• 1. According to Zacks Investment Research, "Micron offers both DRAM and NAND products. The stock has outperformed the broader market in the last one year. The main reason behind the optimism surrounding the stock is improving prices for DRAM and NAND chips, which makes investors confident about Micron’s growth. Going ahead, industry experts believe that total demand could surpass manufacturing capacity, leading to a periodic shortage and higher pricing in the near term. We believe that any increase in prices will have a favorable impact on the company’s top line, the benefit of which is likely to flow down to the bottom line. Additionally, we are positive about the company’s strategy of enhancing capabilities through acquisitions which are likely to boost its top-line performance over the long-run. However, after acquiring SanDisk, Western Digital has become a key player in the NAND space, which could increase competition in the industry." (5/24/2017)
• 2. Goldman Sachs Group Inc analysts commented, "Americas Buy" list in late February. The issue has generated a 20-percent return since then.Justification For The DowngradeDelaney noted the DRAM market is heading into its fifth consecutive quarter of margin expansion and from a historical perspective upturns last anywhere from four to nine quarters. As such, the analyst believes the DRAM upturn is now in the middle to latter stages, and there are some signs pointed toward an end in the cycle.Delaney expanded that his recent industry checks found "slowing spot price momentum" in DRAM and to a lesser extent in NAND.The analyst's call is also based on the fact that DRAM semi cap investments have risen 46 percent year-over-year over the past two quarters in aggregate while NAND is higher by 109 percent.Delaney also noted increased supply in the bottom half of 2017 and 2018 will contribute toward a "more normal pricing" (5/8/2017)
• 3. Wells Fargo & Co analysts commented, "Micron's February quarter results and May quarter guidance reflect continuing strength in memory pricing and the benefits of the Inotera acquisition. February quarter sales were up 58% year/year and the midpoint of May quarter sales guidance implies 86% year/year growth. GAAP gross margin jumped more than 11 percentage points (pp) sequentially, to 36.7% in the February quarter. NonGAAP gross margin is expected to rise 7.5 pp sequentially in the May quarter. Our FY17 GAAP EPS estimate increases to $3.55 from a prior $2.92 and our FY18 GAAP EPS estimate increases to $4.90 from a prior $3.92. We are maintaining our valuation range of $30-35, which we derive using a multiple of approximately 6-7x our FY18 EPS estimate. We are reiterating our Outperform rating on Micron." (3/24/2017)
• 4. Mizuho analysts commented, "Micron reported a strong FebQ, better than its positive preannouncement. MU also guided to a strong MayQ with topline/EPS/GM of $5.2-5.6B/$1.43-1.57/44-48% (consensus at $4.7B/$0.91/37.2%), guiding GMs up ~1000bps q/q (a 10-year high) driving >50% EPS upside to the MayQ consensus. Micron could see a better 2H17 with its 1x (16nm) DRAM and 64L 3D-NAND ramps driving higher topline and better costs. Reiterating our Buy, raising estimates and PT to $35 (prior $30). MU's NAND strength is a positive for WDC as well." (3/24/2017)
• 5. Robert W. Baird analysts commented, "Raising price target and reiterating Outperform rating on our expectation of continued strong environment in both DRAM and NAND, along with Micron's improving mix, cost structure, and overall execution . We model continued NAND price increases throughout the calendar year (albeit at a declining rate), and flat to up DRAM pricing, which combined with Micron's ongoing improvement in fundamentals suggest an earnings peak is not for this year. Our expectation for continued supply/demand tightness in C2H should result in continued earnings momentum over next several quarters." (3/24/2017)

Micron Technology saw a increase in short interest during the month of May. As of May 15th, there was short interest totalling 46,807,097 shares, an increase of 12.5% from the April 28th total of 41,623,505 shares. Based on an average daily trading volume, of 22,589,420 shares, the days-to-cover ratio is presently 2.1 days. Approximately 4.5% of the company's stock are short sold.

Some companies that are related to Micron Technology include salesforce.com, inc. (CRM), Paypal Holdings (PYPL), ASML Holding NV (ASML), T-Mobile US (TMUS), America Movil SAB de CV (AMX), Applied Materials (AMAT), Yahoo! (YHOO), Orange SA (ORAN), Relx PLC (RELX), Relx NV (RENX), VMware (VMW), Cognizant Technology Solutions Corp (CTSH), NetEase (NTES), Canon (CAJ), Nokia Oyj (NOK), Infosys Ltd (INFY), Intuit (INTU) and China Unicom (Hong Kong) Limited (CHU).

Micron Technology's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (7.79%), Primecap Management Co. CA (5.62%), Dimensional Fund Advisors LP (1.27%), Donald Smith & CO. Inc. (1.25%), Geode Capital Management LLC (1.00%) and Parnassus Investments CA (0.84%). Company insiders that own Micron Technology stock include April S Arnzen, Brian Shirley, Ernest E Maddock, Joel L Poppen, Mercedes Johnson, Robert L Bailey, Scott J Deboer and Steven L Thorsen Jr. View Institutional Ownership Trends for Micron Technology.

Micron Technology's stock was sold by a variety of institutional investors in the last quarter, including Parnassus Investments CA, Metropolitan Life Insurance Co. NY, OppenheimerFunds Inc., Amerigo Asset Management, Symphony Asset Management LLC, Point72 Asset Management L.P., Alliancebernstein L.P. and Stelliam Investment Management LP. Company insiders that have sold Micron Technology stock in the last year include April S Arnzen, Brian Shirley, Mercedes Johnson, Scott J Deboer and Steven L Thorsen Jr. View Insider Buying and Selling for Micron Technology.

Micron Technology's stock was bought by a variety of institutional investors in the last quarter, including Vanguard Group Inc., Janus Capital Management LLC, Westpac Banking Corp, CIBC World Markets Inc., AQR Capital Management LLC, Sumitomo Mitsui Asset Management Company LTD, Old Mutual Global Investors UK Ltd. and DnB Asset Management AS. View Insider Buying and Selling for Micron Technology.

Shares of Micron Technology can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Micron Technology stock can currently be purchased for approximately $29.76.