Technology
What Analysts Are Saying About Micron After Earnings
January 8, 2021 10:30 am
Micron Technology Inc. (NASDAQ: MU) reported its most recent quarterly results after the markets closed on Thursday. This has been one of the biggest winners in the S&P 500 over the past year, and it is part of one of the best industries in the index: semiconductors.
For the first quarter, Micron reported $0.78 in earnings per share (EPS) and $5.77 billion in revenue. The consensus estimates had called for $0.71 in EPS and revenue of $5.72 billion. The same period from last year reportedly had EPS of $0.48 on $5.14 billion in revenue.
Management noted that for the first time in its history, Micron is simultaneously leading in DRAM and NAND technologies, and it is in an excellent position to benefit from accelerating digital transformation of the global economy fueled by artificial intelligence, 5G, the cloud and the intelligent edge.
Looking ahead to the fiscal second quarter, the company expects to see EPS in the range of $0.68 to $0.82 and revenue between $5.6 billion and $6.0 billion. Consensus estimates call for $0.63 in EPS and $5.5 billion in revenue for the quarter.
Here’s what a few analysts have said after the fact:
Micron stock traded up about 4% on Friday to $82.46, in a 52-week range of $31.13 to $80.08. The consensus price target is $84.08.
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