Micron Technology Inc. [NASDAQ: MU] loss -0.22% on the last trading session, reaching $64.09 price per share at the time. The company report on November 16, 2020 that Micron Allocates $50 Million to RBC GAM Impact Investment Strategy to Support Community Development for Black and Other Underrepresented Groups.
Micron Technology, Inc. (Nasdaq: MU), announced it is allocating $50 million of its cash and short-term investments to support economic development efforts across the U.S. in predominantly Black and other underserved communities.
In partnership with RBC Global Asset Management (RBC GAM), Micron will invest in an impact strategy that seeks to positively support underserved communities nationally, including those in the San Francisco Bay Area, Washington DC, Northern Virginia and Maryland. The initiative aims to reduce wealth gaps in predominantly Black neighborhoods and increase access to homeownership, affordable rental housing, community facilities and small business loans. The strategy will center on investing in U.S. government-backed securities that aim to deliver both a competitive financial return to Micron while supporting lending in historically underserved communities.
Micron Technology Inc. represents 1.11 billion in outstanding shares, while the company has a total market value of $70.46 billion with the latest information. MU stock price has been found in the range of $63.58 to $65.25.
If compared to the average trading volume of 17.77M shares, MU reached a trading volume of 20310688 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 $65.42 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 1.77, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 3.29. The Price to Book ratio for the last quarter was 1.82, with the Price to Cash per share for the same quarter was set at 7.41. Price to Free Cash Flow for MU in the course of the last twelve months was 848.89 with Quick ratio for the last quarter at 1.90.
Trading performance analysis for MU stock
Micron Technology Inc. [MU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.38. With this latest performance, MU shares gained by 26.96% in over the last four-week period, additionally plugging by 36.89% over the last 6 months – not to mention a rise of 34.90% 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 74.81, with the RSI for the last a single of trading hit 75.27, and the three-weeks RSI is set at 71.13 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 53.67, while it was recorded at 63.98 for the last single week of trading, and 49.09 for the last 200 days.
Micron Technology Inc. [MU]: A deeper dive into fundamental analysis
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.
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 $58,508 million, or 84.30% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 88,750,258, which is approximately -1.592% 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 $5.23 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $3.23 billion in MU stock with ownership of nearly -2.054% of the company’s market capitalization.
Positions in Micron Technology Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 460 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 77,969,276 shares. Additionally, 518 investors decreased positions by around 62,378,347 shares, while 134 investors held positions by with 772,561,523 shares. The mentioned changes placed institutional holdings at 912,909,146 shares, according to the latest SEC report filing. MU stock had 108 new institutional investments in for a total of 15,696,500 shares, while 135 institutional investors sold positions of 9,674,336 shares during the same period.