Earnings and Growth Analysis : Micron Technology (NASDAQ:MU)


Earnings results for Micron Technology (NASDAQ:MU)

Micron Technology, Inc. is expected* to report earnings on 09/29/2020 after market close. The report will be for the fiscal Quarter ending Aug 2020. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.95. The reported EPS for the same quarter last year was $0.5.

Micron Technology last released its quarterly earnings results on June 29th, 2020. The semiconductor manufacturer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.11. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.05 billion. Its revenue for the quarter was up 13.6% on a year-over-year basis. Micron Technology has generated $6.15 earnings per share over the last year and currently has a price-to-earnings ratio of 25.0. Micron Technology has confirmed that its next quarterly earnings report will be published on Tuesday, September 29th, 2020.

Analyst Opinion on Micron Technology (NASDAQ:MU)

31 Wall Street analysts have issued ratings and price targets for Micron Technology in the last 12 months. Their average twelve-month price target is $62.43, predicting that the stock has a possible upside of 25.57%. 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, 9 hold ratings, 20 buy ratings and 1 strong buy rating 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, 9 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $62.43, Micron Technology has a forecasted upside of 25.6% from its current price of $49.72. Micron Technology has been the subject of 19 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Micron Technology (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 (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 $1,195,427.00 in company stock. Only 0.18% of the stock of Micron Technology is held by insiders. 79.66% 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 (NASDAQ:MU

Earnings for Micron Technology are expected to grow by 37.60% in the coming year, from $2.50 to $3.44 per share. The P/E ratio of Micron Technology is 24.98, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 18.65. The P/E ratio of Micron Technology is 24.98, 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 61.82. Micron Technology has a PEG Ratio of 1.39. PEG Ratios above 1 indicate that a company could be overvalued. Micron Technology has a P/B Ratio of 1.49. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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