Is It Time To Review Stock News? Micron Technology (NASDAQ:MU)

On Wednesday Micron Technology (NASDAQ:MU) stock recorded daily change of 0.08% to close at $53.04 with the total traded volume of 19935 shares along average volume of 18783117 shares 52week range of the stock remained $ 28.39 – 54.3 while its day low price was $52.37 and its hit its day high price at $53.72. Its previous closing value stands at $53. MU total market capitalization is $58779035094. Currently stocks EPS is $5.51 while its price to earnings ratio is 9.62.

On Dec. 18, 2019, Micron Technology (NASDAQ:MU) reported results for its first quarter of fiscal 2020, which ended November 28, 2019.

Fiscal Q1 2020 highlights

  • Revenues of $5.14 billion versus $4.87 billion for the prior quarter and $7.91 billion for the same period last year
  • GAAP net income of $491 million, or $0.43 per diluted share
  • Non-GAAP net income of $548 million, or $0.48 per diluted share
  • Operating cash flow of $2.01 billion versus $2.23 billion for the prior quarter and $4.81 billion for the same period last year

Micron posted solid first quarter results, delivering good profitability and positive free cash flow. With our strong execution and improving industry conditions, we are optimistic that Micron’s fiscal second quarter will be the cyclical bottom for our financial performance, said Micron Technology President and CEO Sanjay Mehrotra. Our significantly improved competitive position, dramatically stronger product portfolio, structurally higher profitability and investment-grade balance sheet position Micron very well to drive long-term shareholder value.

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