Micron Technology (NASDAQ:MU) Updates Q1 Earnings Guidance

Micron Technology (NASDAQ:MU) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.66-$1.82 for the period, compared to the consensus earnings per share estimate of $1.52. The company issued revenue guidance of $8.50-$8.90 billion, compared to the consensus revenue estimate of $8.27 billion. Micron Technology also updated its Q1 2025 guidance to 1.660-1.820 EPS.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Micron Technology from $165.00 to $135.00 and set a buy rating on the stock in a research report on Thursday, September 19th. Susquehanna lowered their price target on shares of Micron Technology from $185.00 to $175.00 and set a positive rating on the stock in a research report on Thursday, August 22nd. TD Cowen lowered their price target on shares of Micron Technology from $160.00 to $115.00 and set a buy rating on the stock in a research report on Thursday, September 19th. Raymond James lowered their price target on shares of Micron Technology from $160.00 to $125.00 and set an outperform rating on the stock in a research report on Thursday, September 12th. Finally, Wedbush restated an outperform rating and set a $170.00 price target on shares of Micron Technology in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $145.65.

Micron Technology Stock Up 1.9 %

Shares of NASDAQ:MU opened at $95.77 on Thursday. The stock has a market cap of $106.19 billion, a P/E ratio of -67.44, a P/E/G ratio of 0.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology has a 1-year low of $63.83 and a 1-year high of $157.54. The firm has a fifty day moving average price of $98.39 and a 200 day moving average price of $114.77.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the firm posted ($1.57) EPS. The business’s revenue was up 81.5% compared to the same quarter last year. Sell-side analysts predict that Micron Technology will post 0.61 EPS for the current year.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.