Micron Technology, Inc. (NASDAQ:MU) provider of semiconductor systems, is expected to report fourth quarter earnings results, after market close, on Tuesday 29th September 2020.
Analysts polled by Thomson Reuters anticipate fourth quarter income of $ 0.99 per share.
Looking ahead, the full year income are expected at $ 2.75 per share on the revenues of $ 21282.70 million.
The Company Outlook
Revenue for 4Q20 are expected in a range of $ 5,750.00 million ~ $ 6,250.00 million
Click Here For More Historical Outlooks Of Micron Technology, Inc.
Previous Quarter Performance
Micron Technology, Inc. came out with income for the third quarter of $ 0.82 per share, from the revenue of $ 5,438.00 million. The quarterly earnings contracted 21.90 percent while revenues up 13.58 percent compared with the same quarter last year.
Street analysts expected Micron Technology, Inc. to report income of $ 0.77 per share on revenue of $ 5311.30 million for the third quarter. The bottom line results beat street analysts by $ 0.05 or 6.49 percent, at the same time, top line results outshined analysts by $ 126.70 million or 2.39 percent.
Stock Performance
Shares of Micron Technology, Inc. traded up $ 0.58 or 1.18 percent on Monday, reaching $ 49.72 with volume of 18.90 million shares. Micron Technology, Inc. has traded high as $ 49.77 and has cracked $ 48.13 on the downward trend
According to the previous trading day, closing price of $ 49.72, representing a 57.85 % increase from the 52 week low of $ 31.13 and a 19.69 % decrease over the 52 week high of $ 61.19.
The company has a market capital of $ 55.24 billion and is part of the Technology sector and Semiconductor Memory industry.
Recent Analyst recommendations
- On 23rd September 2020, upgraded by Cleveland Research to Buy from Neutral rating.
- On 14th September 2020, upgraded by Goldman Sachs Group to Buy from Neutral rating.
- On 27th August 2020, maintained by Bank of America at Buy rating, with $ 67.00 target price.
- On 13th August 2020, downgraded by Deutsche Bank to Hold from Buy rating.
Conference Call
Micron Technology, Inc. will be hosting a conference call at 4:30 PM eastern time on 29th September 2020, to discuss its 4Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.micron.com
Micron Technology, Inc. manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit.
