Micron Technology (MU) Releases Earnings Results, Beats Expectations By $0.06 EPS

Micron Technology (MU) announced its most recent quarterly financial results on Tuesday, Oct-4-2016. MU said it had a profit of $-0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $-0.11. The company posted revenue of $3217.00 million in the period, compared to analysts expectations of $3192.19 million. MU’s revenue was down -10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Micron Technology. Company shares were Reiterated by Nomura on Sep 21, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .Company shares were Reiterated by UBS on Sep 9, 2016 to “Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .Company shares were Reiterated by Cowen on Sep 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 19 from a previous price target of $15 .

Micron Technology opened for trading at $17.75 and hit $18 on the upside on Friday, eventually ending the session at $17.78, with a gain of 1.37% or 0.24 points. The heightened volatility saw the trading volume jump to 2,13,63,073 shares. Company has a market cap of $18,463 M.

In a different news, on Aug 31, 2016, Scott J Deboer (VP Technology Development) sold 31,500 shares at $17.05 per share price. According to the SEC, on Jul 7, 2016, Brian Shirley (VP Memory Solutions) sold 48,750 shares at $12.37 per share price. On Jan 25, 2016, Ernest E Maddock (CFO) purchased 10,000 shares at $10.69 per share price, according to the Form-4 filing with the securities and exchange commission.

Micron Technology Inc. is a global provider of semiconductor devices. Through the Company’s global operations it manufactures and markets a full range of Dynamic Random Access Memory (DRAM) NAND Flash and NOR Flash memory as well as other memory technologies packaging solutions and semiconductor systems for use in leading-edge computing consumer networking automotive industrial embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU) which includes DRAM and NOR Flash products; Mobile Business Unit (MBU) which includes DRAM NAND Flash and NOR Flash products; Storage Business Unit (SBU) which includes NAND Flash components and Solid-State Drives (SSDs) cloud and removable storage markets. SBU also includes NAND Flash products and Embedded Business Unit (EBU) which includes DRAM NAND Flash and NOR Flash products.

Micron Technology

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