Micron Technology Inc. [MU] is 13.73% higher this YTD. Is it still time to buy?

Micron Technology Inc. [NASDAQ: MU] traded at a high on 01/19/21, posting a 5.92 gain after which it closed the day’ session at $85.50. The company report on January 8, 2021 that Micron Technology, Inc. Reports Results for the First Quarter of Fiscal 2021.

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Industry’s first 176-layer NAND in production.

Micron Technology, Inc. (Nasdaq: MU) announced results for its first quarter of fiscal 2021, which ended Dec. 3, 2020.

The results of the trading session contributed to over 26404093 shares changing hands. Over the past one week, the price volatility of Micron Technology Inc. stands at 3.36% while the volatility over the past one month is 3.55%.

The market cap for MU stock reached $96.33 billion, with 1.12 billion shares outstanding and 1.12 billion shares in the current float. Compared to the average trading volume of 17.46M shares, MU reached a trading volume of 26404093 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 $95.99 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 1.90. 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.

Summit Insights have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $80 to $90. The new note on the price target was released on January 08, 2021, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise from $35 to $100, while Citigroup kept a Buy rating on MU stock. On December 11, 2020, analysts increased their price target for MU shares from 75 to 80.

The Average True Range (ATR) for Micron Technology Inc. is set at 2.85, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 4.37. The Price to Book ratio for the last quarter was 2.39, with the Price to Cash per share for the same quarter was set at 6.24.

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 8.68. With this latest performance, MU shares gained by 17.14% in over the last four-week period, additionally plugging by 66.96% over the last 6 months – not to mention a rise of 48.28% 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 79.16, with the RSI for the last a single of trading hit 82.38, and the three-weeks RSI is set at 76.97 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 69.20, while it was recorded at 81.38 for the last single week of trading, and 53.58 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.

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 2.90.

Earnings analysis for Micron Technology Inc. [MU]

With the latest financial reports released by the company, Micron Technology Inc. posted 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.37/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.60%. 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 18.38%.

Insider trade positions for Micron Technology Inc. [MU]

There are presently around $72,629 million, or 84.00% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 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 $6.97 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $4.31 billion in MU stock with ownership of nearly -2.054% of the company’s market capitalization.

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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 459 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 78,647,246 shares. Additionally, 507 investors decreased positions by around 62,304,550 shares, while 144 investors held positions by with 758,818,741 shares. The mentioned changes placed institutional holdings at 899,770,537 shares, according to the latest SEC report filing. MU stock had 116 new institutional investments in for a total of 16,322,304 shares, while 133 institutional investors sold positions of 9,517,610 shares during the same period.

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