Micron Technology, Inc. (NASDAQ:MU – Get Rating) – Investment analysts at Wedbush issued their FY2022 earnings per share (EPS) estimates for Micron Technology in a research report issued on Monday, September 26th. Wedbush analyst M. Bryson anticipates that the semiconductor manufacturer will post earnings per share of $7.87 for the year. Wedbush currently has a "Outperform" rating and a $65.00 price target on the stock. The consensus estimate for Micron Technology's current full-year earnings is $7.91 per share. Wedbush also issued estimates for Micron Technology's Q4 2022 earnings at $1.28 EPS, Q1 2023 earnings at $0.38 EPS, Q2 2023 earnings at $0.00 EPS, Q3 2023 earnings at $0.02 EPS, Q4 2023 earnings at $0.34 EPS and FY2023 earnings at $0.74 EPS.

Other analysts have also issued reports about the company. Barclays decreased their price target on Micron Technology from $105.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 28th. TheStreet lowered Micron Technology from a "b-" rating to a "c+" rating in a research note on Monday. Rosenblatt Securities decreased their price target on Micron Technology from $165.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 1st. BNP Paribas began coverage on Micron Technology in a research note on Tuesday, September 13th. They issued an "outperform" rating and a $75.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Micron Technology from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.18.

Micron Technology Stock Up 0.8 %

Micron Technology (NASDAQ:MU – Get Rating) last posted its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.17. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. During the same quarter last year, the company earned $1.81 earnings per share. The business's revenue for the quarter was up 16.4% compared to the same quarter last year.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Micron Technology during the 4th quarter valued at approximately $480,000. LPL Financial LLC boosted its position in Micron Technology by 11.8% during the 4th quarter. LPL Financial LLC now owns 318,395 shares of the semiconductor manufacturer's stock worth $29,659,000 after acquiring an additional 33,722 shares during the period. Freestone Capital Holdings LLC acquired a new position in Micron Technology during the 4th quarter worth $280,000. Alliancebernstein L.P. boosted its position in Micron Technology by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,529,008 shares of the semiconductor manufacturer's stock worth $142,427,000 after acquiring an additional 26,426 shares during the period. Finally, Bridgewater Associates LP acquired a new position in Micron Technology during the 4th quarter worth $276,000. 79.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Michael W. Bokan sold 16,600 shares of the business's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $63.82, for a total value of $1,059,412.00. Following the completion of the sale, the senior vice president now directly owns 119,126 shares in the company, valued at approximately $7,602,621.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.32% of the company's stock.

Micron Technology Company Profile

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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