Micron Technology Inc. [NASDAQ: MU] jumped around 0.21 points on Friday, while shares priced at $84.14 at the close of the session, up 0.25%. The company report on May 26, 2021 that ScaleFlux Lowers Total Cost of Ownership for Flash Storage to Less Than One Cent per Gigabyte per Year with Micron QLC.
By combining transparent compression with QLC NAND from Micron, ScaleFlux Data Scale Edition enables Flash for the data center at HDD-like costs.
ScaleFlux, Inc., the leader in deploying Computational Storage at scale, announced it has expanded its Computational Storage Drive (CSD) portfolio to include quad-level cell (QLC) NAND Flash storage from Micron Technology, Inc. (Nasdaq: MU). These new QLC drives — with integrated and transparent compression — dramatically improve the affordability of Flash storage, reducing costs to less than $0.01 per gigabyte per year.
Micron Technology Inc. stock is now 11.92% up from its year-to-date (YTD) trading value. MU Stock saw the intraday high of $84.725 and lowest of $83.22 per share. The company’s 52-week high price is 96.96, which means current price is +14.09% above from all time high which was touched on 04/12/21.
Compared to the average trading volume of 20.82M shares, MU reached a trading volume of 11207756 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 $116.05 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.
KeyBanc Capital Markets have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 20, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $100 to $105. The new note on the price target was released on April 01, 2021, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise to $140, while Daiwa Securities analysts kept a Buy rating on MU stock.
The Average True Range (ATR) for Micron Technology Inc. is set at 2.75, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 4.00. The Price to Book ratio for the last quarter was 2.32, with the Price to Cash per share for the same quarter was set at 6.42.
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 4.24. With this latest performance, MU shares dropped by -4.45% in over the last four-week period, additionally plugging by 32.65% over the last 6 months – not to mention a rise of 75.62% 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 52.09, with the RSI for the last a single of trading hit 57.73, and the three-weeks RSI is set at 50.04 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 86.34, while it was recorded at 82.89 for the last single week of trading, and 70.80 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 2.30 and a Current Ratio set at 3.20.
Earnings analysis for Micron Technology Inc. [MU]
With the latest financial reports released by the company, Micron Technology Inc. posted 0.82/share EPS, while the average EPS was predicted by analysts to be reported at 0.77/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.50%. 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 63.66%.
Insider trade positions for Micron Technology Inc. [MU]
There are presently around $76,945 million, or 83.90% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 88,019,606, which is approximately 0.453% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 86,193,412 shares of the stock with an approximate value of $7.25 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $3.82 billion in MU stock with ownership of nearly -6.43% of the company’s market capitalization.
Positions in Micron Technology Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 702 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 67,919,158 shares. Additionally, 498 investors decreased positions by around 85,064,967 shares, while 166 investors held positions by with 761,502,176 shares. The mentioned changes placed institutional holdings at 914,486,301 shares, according to the latest SEC report filing. MU stock had 204 new institutional investments in for a total of 15,800,402 shares, while 90 institutional investors sold positions of 14,860,633 shares during the same period.