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Earnings results for Micron Technology (NASDAQ:MU)

Micron Technology, Inc. is expected* to report earnings on 01/07/2021 after market close. The report will be for the fiscal Quarter ending Nov 2020. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.6. The reported EPS for the same quarter last year was $0.42.

Micron Technology last released its quarterly earnings results on September 29th, 2020. The semiconductor manufacturer reported $1.08 EPS for the quarter, beating the consensus estimate of $0.95 by $0.13. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Its revenue was up 24.4% compared to the same quarter last year. Micron Technology has generated $2.55 earnings per share over the last year and currently has a price-to-earnings ratio of 32.5. Micron Technology has confirmed that its next quarterly earnings report will be published on Thursday, January 7th, 2021.

Analyst Opinion on Micron Technology (NASDAQ:MU)

32 Wall Street analysts have issued ratings and price targets for Micron Technology in the last 12 months. Their average twelve-month price target is $71.97, predicting that the stock has a possible downside of 6.67%. 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, 6 hold ratings, 24 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 2.78, and is based on 24 buy ratings, 6 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $71.97, Micron Technology has a forecasted downside of 6.7% from its current price of $77.11. Micron Technology has been the subject of 12 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 $7,658,336.00 in company stock. Only 0.30% of the stock of Micron Technology is held by insiders. 71.31% 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 59.62% in the coming year, from $3.12 to $4.98 per share. The P/E ratio of Micron Technology is 32.54, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 24.23. The P/E ratio of Micron Technology is 32.54, 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 88.90. Micron Technology has a PEG Ratio of 1.83. PEG Ratios above 1 indicate that a company could be overvalued. Micron Technology has a P/B Ratio of 2.20. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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