Shares of Micron (NASDAQ:MU) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at -$1.07, which beat analysts’ consensus estimate of -$1.15 per share.
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Sales decreased by 39.6% year-over-year, with revenue hitting $4.01 billion. This beat analysts’ expectations by $80 million.
Looking forward, management now expects revenue and adjusted earnings per share for Q1 2024 to be in the ranges of $4.2 billion to $4.6 billion and -$1.14 to -$1, respectively. For reference, analysts were expecting $4.21 billion in revenue along with an adjusted EPS of -$0.92.
What is the Price Target for MU Stock?
Overall, Wall Street has a consensus price target of $78.68 on MU stock, implying 15.35% upside potential, as indicated by the graphic above.
