Micron Technology Inc. [MU] Stock trading around $56.36 per share: What’s Next?

Micron Technology Inc. [NASDAQ: MU] stock went on an upward path that rose over 1.71% on Wednesday, amounting to a one-week price increase of more than 8.47%. The company report on November 10, 2020 that Micron Technology Announces Upcoming Investor Events.

Micron Technology, Inc. (Nasdaq: MU), today announced its participation in the following investor events:.

Chief Financial Officer David Zinsner will take part in a fireside chat at the Bernstein Operational Decisions Conference. The event will be webcast live on Monday, Nov. 16, at 11:30 a.m. Pacific time.

Over the last 12 months, MU stock rose by 20.17%. The one-year Micron Technology Inc. stock forecast points to a potential upside of 9.95. The average equity rating for MU stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $62.08 billion, with 1.11 billion shares outstanding and 1.11 billion shares in the current float. Compared to the average trading volume of 18.38M shares, MU stock reached a trading volume of 14739770 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 $62.59 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 2.00. 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 1.64, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.90. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 7.39. Price to Free Cash Flow for MU in the course of the last twelve months was 747.97 with Quick ratio for the last quarter at 1.90.

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 8.47. With this latest performance, MU shares gained by 8.70% in over the last four-week period, additionally plugging by 23.25% over the last 6 months – not to mention a rise of 20.17% 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 67.16, with the RSI for the last a single of trading hit 72.10, and the three-weeks RSI is set at 64.34 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 50.27, while it was recorded at 55.49 for the last single week of trading, and 48.79 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 +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.

Reflecting on the efficiency of the workforce at the company, Micron Technology Inc. [MU] managed to generate an average of $67,175 per employee. 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 1.90 and a Current Ratio set at 2.70.

MU Stock EPS

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%.

Micron Technology Inc. [MU] Insider Position Details

There are presently around $49,328 million, or 82.30% 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 81,538,240 shares of the stock with an approximate value of $4.6 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $2.9 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 481 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 53,700,427 shares. Additionally, 493 investors decreased positions by around 77,505,974 shares, while 130 investors held positions by with 759,025,391 shares. The mentioned changes placed institutional holdings at 890,231,792 shares, according to the latest SEC report filing. MU stock had 108 new institutional investments in for a total of 8,704,219 shares, while 124 institutional investors sold positions of 17,061,923 shares during the same period.

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