UBS slashes price target on Micron Technology Inc. [MU] – find out why.

Micron Technology Inc. [NASDAQ: MU] jumped around 1.49 points on Thursday, while shares priced at $49.90 at the close of the session, up 3.08%. The company report on September 30, 2020 that Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2020.

DRAM portfolio strengthened with 1z ramp; High-value NAND shipments reach record levels in FY20.

Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2020, which ended Sept. 3, 2020.

Micron Technology Inc. stock is now -7.21% down from its year-to-date (YTD) trading value. MU Stock saw the intraday high of $49.9999 and lowest of $48.22 per share. The company’s 52-week high price is 61.19, which means current price is +60.30% above from all time high which was touched on 02/12/20.

Compared to the average trading volume of 19.42M shares, MU reached a trading volume of 14538137 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $62.74 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 2.10. 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.

UBS have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $60 to $57. The new note on the price target was released on September 30, 2020, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another drop from $51 to $45, while Piper Sandler kept a Neutral rating on MU stock. On September 30, 2020, analysts decreased their price target for MU shares from 70 to 65.

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 2.66. The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 7.57. Price to Free Cash Flow for MU in the course of the last twelve months was 108.50 with Quick ratio for the last quarter at 2.00.

How has MU stock performed recently?

Micron Technology Inc. [MU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.13. With this latest performance, MU shares gained by 10.52% in over the last four-week period, additionally plugging by 8.17% over the last 6 months – not to mention a rise of 16.38% 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 56.03, with the RSI for the last a single of trading hit 58.98, and the three-weeks RSI is set at 54.82 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 47.54, while it was recorded at 47.96 for the last single week of trading, and 49.26 for the last 200 days.

Micron Technology Inc. [MU]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Micron Technology Inc. [MU] shares currently have an operating margin of +14.33 and a Gross Margin at +30.57. Micron Technology Inc.’s Net Margin is presently recorded at +12.54.

Return on Total Capital for MU is now 6.91, given the latest momentum, and Return on Invested Capital for the company is 6.23. Return on Equity for this stock inclined to 7.18, with Return on Assets sitting at 5.24. When it comes to the capital structure of this company, Micron Technology Inc. [MU] has a Total Debt to Total Equity ratio set at 18.40. Additionally, MU Total Debt to Total Capital is recorded at 15.54, with Total Debt to Total Assets ending up at 13.37. Long-Term Debt to Equity for the company is recorded at 17.71, with the Long-Term Debt to Total Capital now at 14.96.

Receivables Turnover for the company is 6.03 with a Total Asset Turnover recorded at a value of 0.42.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.

Earnings analysis for Micron Technology Inc. [MU]

With the latest financial reports released by the company, Micron Technology Inc. posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.10%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Micron Technology Inc. go to 4.91%.

Insider trade positions for Micron Technology Inc. [MU]

There are presently around $44,539 million, or 83.00% 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 $4.09 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $2.57 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 September and at the time of the September reporting period, where 514 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 58,621,746 shares. Additionally, 468 investors decreased positions by around 77,341,323 shares, while 127 investors held positions by with 756,601,785 shares. The mentioned changes placed institutional holdings at 892,564,854 shares, according to the latest SEC report filing. MU stock had 125 new institutional investments in for a total of 10,575,597 shares, while 106 institutional investors sold positions of 17,689,976 shares during the same period.

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