Micron Technology, Inc. designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels. The company offers memory products for the cloud server, enterprise, client, graphics, and networking markets, as well as for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer storage markets; other discrete storage products in component and wafers; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its direct sales force, independent sales representatives, distributors, and retailers; and web-based customer direct sales channel, as well as through channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.
Micron Technology Price Performance
NASDAQ:MU opened at $59.15 on Wednesday. The firm has a market cap of $65.25 billion, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.57 and a beta of 1.28. Micron Technology has a 12 month low of $51.40 and a 12 month high of $98.45. The company has a quick ratio of 2.44, a current ratio of 3.24 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $60.92 and its two-hundred day moving average price is $71.70.
Micron Technology (NASDAQ:MU - Get Rating) last posted its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.17. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The business had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.66 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. Micron Technology's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts anticipate that Micron Technology will post 8.12 EPS for the current fiscal year.
Micron Technology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Monday, July 11th were paid a $0.115 dividend. The ex-dividend date was Friday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.78%. This is a boost from Micron Technology's previous quarterly dividend of $0.10. Micron Technology's dividend payout ratio (DPR) is currently 5.25%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on MU. Mizuho reduced their price objective on shares of Micron Technology from $95.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, July 1st. StockNews.com upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a report on Thursday, July 21st. Morgan Stanley downgraded shares of Micron Technology from an "equal weight" rating to an "underweight" rating and set a $56.00 target price on the stock. in a report on Friday, July 22nd. Cowen dropped their target price on shares of Micron Technology from $90.00 to $70.00 and set an "outperform" rating on the stock in a report on Friday, July 1st. Finally, Robert W. Baird dropped their target price on shares of Micron Technology from $90.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $87.15.