MICRON TECHNOLOGY Reports Fourth Quarter Results for FY2023
October 2, 2023
🌥️Earnings Overview
On August 31 2023, MICRON TECHNOLOGY ($NASDAQ:MU) reported their financial results for the fourth quarter of FY 2023, which ended on September 27 2023. Total revenue was USD 4.0 billion, a decrease of 39.6% from the same quarter in the previous year. Net income was USD -1.4 billion, compared to a profit of 1.5 billion in the same quarter last year.
Market Price
The stock opened at $68.1 and climbed 0.4% by the end of the day, closing at $68.2. This figure was higher than its last closing price of $67.9. The company showed a strong performance during the quarter, which is consistent with its growth in recent years. The company recorded strong revenue growth in both its Compute and Networking and Mobile segments.
These strong results demonstrate the company’s ability to capitalize on the growth of the mobile device market and its commitment to delivering technology solutions to its customers. The company’s focus on delivering innovative solutions to its customers is clearly paying off and should continue to drive future growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Micron Technology. More…
| Total Revenues | Net Income | Net Margin |
| 15.54k | -5.83k | -36.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Micron Technology. More…
| Operations | Investing | Financing |
| 1.56k | -6.19k | 4.98k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Micron Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 64.25k | 20.13k | 40.28 |
Key Ratios Snapshot
Some of the financial key ratios for Micron Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -10.2% | 9.5% | -33.9% |
| FCF Margin | ROE | ROA |
| -39.4% | -7.4% | -5.1% |
Analysis
GoodWhale conducted an analysis of MICRON TECHNOLOGY‘s financials and found that it is strong in asset, medium in dividend, profitability and weak in growth. According to our Star Chart, MICRON TECHNOLOGY has a high health score of 8/10 with regard to its cashflows and debt, meaning it is very capable to sustain future operations in times of crisis. Our analysis also concluded that MICRON TECHNOLOGY is classified as a ‘cow’, a type of company which has the track record of paying out consistent and sustainable dividends. We believe that this makes it an attractive option for investors looking for safe, steady returns while still enjoying some potential growth. Over the long term, MICRON TECHNOLOGY could be a great choice for those investors who want to be rewarded from a reliable dividend-paying stock. More…
Peers
In the semiconductor industry, there is intense competition between Micron Technology Inc and its competitors: Intel Corp, Advanced Micro Devices Inc, GLOBALFOUNDRIES Inc. All four companies are striving to develop the most innovative and efficient products to stay ahead of the competition. This competition benefits consumers as it drives down prices and leads to continuous innovation in the semiconductor industry.
– Intel Corp ($NASDAQ:INTC)
Intel is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world’s second largest and second highest valued semiconductor chip maker based on revenue after being overtaken by Samsung, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also makes motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing.
As of 2022, Intel has a market capitalization of 106.76 billion dollars. This is a decrease from previous years, likely due to increased competition from other companies such as AMD. Despite this, Intel still remains one of the most valuable and well-known semiconductor companies in the world. In addition to its market cap, Intel also has a return on equity (ROE) of 19.16%. This is a measure of how profitable the company is relative to the amount of money that shareholders have invested. A higher ROE indicates that the company is more efficient at generating profits and is a better investment.
– Advanced Micro Devices Inc ($NASDAQ:AMD)
As of 2022, AMD has a market cap of 92.39B and a ROE of 4.13%. The company is a global semiconductor company that designs, manufactures, and markets computer processors, graphics cards, and related technologies. Its products are used in personal computers, game consoles, and cloud computing.
– GLOBALFOUNDRIES Inc ($NASDAQ:GFS)
As of 2022, GLOBALFOUNDRIES Inc has a market cap of 28.29B and a Return on Equity of 5.09%. The company is a leading provider of advanced semiconductor manufacturing services.
Summary
For investors looking to invest in MICRON TECHNOLOGY, the fourth quarter of FY2023 has been a mixed bag. Total revenue has dropped significantly by 39.6%, but net income has also decreased, from USD 1.5 billion the same quarter last year to USD -1.4 billion this period. While this is an undesirable outcome, it does not necessarily indicate a long-term issue with the company’s performance. Investors should weigh this result against other factors before making a decision to invest.
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