Tuesday, October 20, 2020

Micron Technology Inc. [MU] Stock trading around $49.15 per share: What’s Next?

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Micron Technology Inc. [NASDAQ: MU] stock went on a downward path that fall over -3.13% on Monday, amounting to a one-week price increase of more than 0.24%.

Over the last 12 months, MU stock dropped by -0.02%. The one-year Micron Technology Inc. stock forecast points to a potential upside of 22.85. The average equity rating for MU stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $54.86 billion, with 1.11 billion shares outstanding and 1.11 billion shares in the current float. Compared to the average trading volume of 19.48M shares, MU stock reached a trading volume of 21136142 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Micron Technology Inc. [MU]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MU shares is $63.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MU stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 14, 2020. While these analysts kept the previous recommendation, Cascend Securities dropped their target price from $70 to $55. The new note on the price target was released on August 13, 2020, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise to $48, while Deutsche Bank analysts kept a Hold rating on MU stock. On August 06, 2020, analysts decreased their price target for MU shares from 65 to 60.

The Average True Range (ATR) for Micron Technology Inc. is set at 1.78, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.71. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 7.76. Price to Free Cash Flow for MU in the course of the last twelve months was 184.73 with Quick ratio for the last quarter at 2.00.

MU Stock Performance Analysis:

Micron Technology Inc. [MU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.24. With this latest performance, MU shares gained by 14.34% in over the last four-week period, additionally plugging by 28.50% over the last 6 months – not to mention a drop of -0.02% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MU stock in for the last two-week period is set at 55.10, with the RSI for the last a single of trading hit 58.43, and the three-weeks RSI is set at 54.38 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 48.04, while it was recorded at 50.03 for the last single week of trading, and 49.41 for the last 200 days.

Insight into Micron Technology Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Micron Technology Inc. [MU] shares currently have an operating margin of +31.72 and a Gross Margin at +45.72. Micron Technology Inc.’s Net Margin is presently recorded at +26.97.

Return on Total Capital for MU is now 18.42, given the latest momentum, and Return on Invested Capital for the company is 16.51. Return on Equity for this stock inclined to 18.52, with Return on Assets sitting at 13.68. When it comes to the capital structure of this company, Micron Technology Inc. [MU] has a Total Debt to Total Equity ratio set at 16.31. Additionally, MU Total Debt to Total Capital is recorded at 14.02, with Total Debt to Total Assets ending up at 11.97. Long-Term Debt to Equity for the company is recorded at 12.66, with the Long-Term Debt to Total Capital now at 10.88.

Reflecting on the efficiency of the workforce at the company, Micron Technology Inc. [MU] managed to generate an average of $170,622 per employee. Receivables Turnover for the company is 5.40 with a Total Asset Turnover recorded at a value of 0.51.Micron Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.90.

MU Stock EPS

With the latest financial reports released by the company, Micron Technology Inc. posted 0.56/share EPS, while the average EPS was predicted by analysts to be reported at 0.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MU.

Micron Technology Inc. [MU] Insider Position Details

There are presently around $44,124 million, or 82.90% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 90,186,020, which is approximately 0.14% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 81,921,649 shares of the stock with an approximate value of $4.03 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $2.53 billion in MU stock with ownership of nearly -3.746% of the company’s market capitalization.

Positions in Micron Technology Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 523 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 58,768,049 shares. Additionally, 478 investors decreased positions by around 73,288,748 shares, while 125 investors held positions by with 765,676,255 shares. The mentioned changes placed institutional holdings at 897,733,052 shares, according to the latest SEC report filing. MU stock had 131 new institutional investments in for a total of 10,647,362 shares, while 107 institutional investors sold positions of 17,500,504 shares during the same period.

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