Wednesday, November 25, 2020

Micron Technology Inc. [MU] Is Currently -1.34 below its 200 Period Moving Avg: What Dose This Mean?

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Micron Technology Inc. [NASDAQ: MU] loss -1.34% or -0.71 points to close at $52.14 with a heavy trading volume of 11654791 shares. The company report on October 20, 2020 that Micron Readies World’s First Multichip Package With LPDDR5 DRAM for Mass Production.

High-performance memory and storage in a single, tightly designed package accelerate 5G applications for smartphones.


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Micron Technology, Inc. (Nasdaq: MU), today announced the launch of uMCP5, the industry’s first universal flash storage (UFS) multichip package with low-power DDR5 (LPDDR5) DRAM. Now ready for mass production, Micron’s uMCP5 combines high-performance, high-density and low-power memory and storage in one compact package, equipping smartphones to handle data-intensive 5G workloads with dramatically increased speed and power efficiency. The multichip package uses Micron’s LPDDR5 memory, high-reliability NAND and leading-edge UFS 3.1 controller to power advanced mobile features previously only seen in costly flagship devices using discrete products, such as stand-alone memory and storage. Now available on other high-end phones, these emerging technologies — such as image recognition, advanced artificial intelligence (AI), multicamera support, augmented reality (AR) and high-resolution displays — are becoming accessible to more consumers.

It opened the trading session at $52.40, the shares rose to $52.89 and dropped to $51.40, the range by which the price of stock traded the whole day. The daily chart for MU points out that the company has recorded 15.07% gains over the past six months. However, it is still -67.49% lower than its most recent low trading price.

If we look at the average trading volume of 19.06M shares, MU reached to a volume of 11654791 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $63.12 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.

Deutsche Bank have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 13, 2020. While these analysts kept the previous recommendation, UBS dropped their target price from $63 to $61. 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 $60 to $57, while RBC Capital Mkts kept a Outperform rating on MU stock. On September 30, 2020, analysts decreased their price target for MU shares from 51 to 45.

The Average True Range (ATR) for Micron Technology Inc. is set at 1.67, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.79. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 7.11. Price to Free Cash Flow for MU in the course of the last twelve months was 719.56 with Quick ratio for the last quarter at 1.90.

Trading performance analysis for MU stock

Micron Technology Inc. [MU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.93. With this latest performance, MU shares gained by 6.11% in over the last four-week period, additionally plugging by 15.07% over the last 6 months – not to mention a rise of 8.56% 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 57.86, with the RSI for the last a single of trading hit 54.63, and the three-weeks RSI is set at 56.35 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 48.31, while it was recorded at 53.24 for the last single week of trading, and 49.06 for the last 200 days.

Micron Technology Inc. [MU]: A deeper dive into fundamental analysis

Micron Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.70.

Micron Technology Inc. [MU]: An earnings per share (EPS) analysis

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 9.09%.

An analysis of insider ownership at Micron Technology Inc. [MU]

There are presently around $46,459 million, or 82.70% 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 0.20% of the total institutional ownership; BLACKROCK INC., holding 81,921,649 shares of the stock with an approximate value of $4.27 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $2.68 billion in MU stock with ownership of nearly -3.746% of the company’s market capitalization.

495 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 57,347,629 shares. Additionally, 475 investors decreased positions by around 77,416,153 shares, while 127 investors held positions by with 756,272,371 shares. The mentioned changes placed institutional holdings at 891,036,153 shares, according to the latest SEC report filing. MU stock had 112 new institutional investments in for a total of 10,131,874 shares, while 107 institutional investors sold positions of 17,738,568 shares during the same period.

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