Earnings results for Micron Technology, Inc. (NASDAQ:MU)
Estimate Momentum measures change in analyst sentiment over time and may be an indicator of future price movements. The Change in Consensus chart shows the current, 1 week ago, and 1 month ago consensus earnings per share (EPS*) forecasts. For the fiscal quarter endingMay 2020 , the consensus EPS* forecast has remained the same over the past week at 0.71 and increased over the past month from 0.5 to 0.71(42.00%). Of the 6 analysts making quarterly forecasts, 6raised and none lowered their forecast. For the fiscal year ending Aug 2020 , the consensus EPS* forecast has remained the same over the past week at 2.23 and increased over the past month from 1.87 to 2.23(19.25%). Of the 6 analysts making yearly forecasts, 6raised and none lowered their forecast.
Micron Technology last issued its quarterly earnings data on March 25th, 2020. The semiconductor manufacturer reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Its revenue for the quarter was down 17.7% compared to the same quarter last year. Micron Technology has generated $6.15 earnings per share over the last year and currently has a price-to-earnings ratio of 24.0. Micron Technology has confirmed that its next quarterly earnings report will be published on Monday, June 29th, 2020.
Analyst Opinion on Micron Technology, Inc. (NASDAQ:MU)
28 Wall Street analysts have issued ratings and price targets for Micron Technology in the last 12 months. Their average twelve-month price target is $63.32, suggesting that the stock has a possible upside of 30.59%. The high price target for MU is $100.00 and the low price target for MU is $35.00. There are currently 1 sell rating, 7 hold ratings and 20 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Micron Technology has received a consensus rating of Buy. The company’s average rating score is 2.68, and is based on 20 buy ratings, 7 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $63.32, Micron Technology has a potential upside of 30.6% from its current price of $48.49. Micron Technology has been the subject of 15 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Micron Technology, Inc. (NASDAQ:MU)
Micron Technology does not currently pay a dividend. Micron Technology does not have a long track record of dividend growth.
Insiders buying/selling: Micron Technology, Inc. (NASDAQ:MU)
In the past three months, Micron Technology insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $114,390.00 in company stock. Only 0.18% of the stock of Micron Technology is held by insiders. 80.06% of the stock of Micron Technology is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Micron Technology, Inc. (NASDAQ:MU
Earnings for Micron Technology are expected to grow by 52.02% in the coming year, from $2.23 to $3.39 per share. The P/E ratio of Micron Technology is 24.01, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.57. The P/E ratio of Micron Technology is 24.01, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 39.14. Micron Technology has a PEG Ratio of 2.12. PEG Ratios above 1 indicate that a company could be overvalued. Micron Technology has a P/B Ratio of 1.46. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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