Micron Technology Inc reports results for the quarter ended May 31 - Earnings Summary

• Micron Technology Inc MU.OQ reported quarterly adjusted earnings of $1.91​​ per share for the quarter ended May 31, higher than the same quarter last year, when the company reported EPS of 62 cents. The mean expectation of twenty six analysts for the quarter was for earnings of $1.60 per share. Wall Street expected results to range from $1.55 to $1.78 per share.

• Revenue rose 36.6% to $9.30 billion from a year ago; analysts expected $8.87 billion.

• Micron Technology Inc's reported EPS for the quarter was $1.68​.

• The company reported quarterly net income of $1.89 billion.

• Micron Technology Inc shares had risen by 47.2% this quarter and gained 52.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.8% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 34 "strong buy" or "buy," 6 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for Micron Technology Inc is $130.00, about 2.1% above its last closing price of $127.25

This summary was machine generated from LSEG data June 25 at 11:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)