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Friday, March 5, 2021

Brokerages Are Expecting The Stocks Of MU To Post Sales Of $5.81 Billion

Quite a few analysts have forecasted that the stocks of MU would be posting a sales sum of $5.81 billion for this quarter. According to a report, seven investment analysts have already issued estimates into the earnings of the company. The lowest range of estimates has been set at $5.80 billion, while the highest denominator has been set at $5.85 billion. The firm did report a revenue statement of $4.80 billion the previous year, which indicates a positive annual growth rate of about 21%. Micron Technology would be posting its next earnings results on the 24th of March.

The Quarterly Estimates of MU

The stocks of MU did upload their previous earnings results on the 6th of January. This technological company had an EPS of $0.78 for the previous quarter, which was more than the analyst estimate of about $0.71. The revenue earned by the company was $5.77 billion, which was more than the analyst estimate at $5.66 billion. MU had a 13.59% net margin, along with an 8.46% return on its equity. 

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There have been many research equities that have commented on the stocks of MU. Mizuho Securities has already increased the target price on the company to $92, along with a rating of buy- published in a note on the 8th of January. UBS Group has gone the opposite direction with a price objective set at $61, with a rating of buy which was published in a 30th September research note. Piper Sandler also managed to increase the price target to $80, with a rating of neutral on MU. In the end, Cleveland Research also raised the rating of Micron Technology from neutral to buy, in a 23rd September research report. 

One investment analyst has already given the stocks a rating of sell, while seven other investment analysts have given the stocks of MU a rating of hold. Interestingly, twenty-five analysts have issued a buy rating on MU. Hence, the company enjoys a rating of buy, with a target price set at $84.19. 

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