Micron Technology Inc. [MU] Stock trading around $75.39 per share: What’s Next?

Micron Technology Inc. [NASDAQ: MU] gained 1.09% or 0.81 points to close at $75.39 with a heavy trading volume of 14733417 shares. The company report on July 1, 2021 that Micron to Sell Lehi, Utah, Fab to Texas Instruments.

Micron Technology, Inc. (Nasdaq: MU) announced that it has entered into a definitive agreement to sell its Lehi, Utah, fab to Texas Instruments. The economic value for Micron from the sale is $1.5 billion, comprised of $900 million in cash from TI from the sales transaction, and approximately $600 million in value from select tools and other assets. Micron has sold some of these assets and will retain the remainder to redeploy to its other manufacturing sites or sell to other buyers.

Micron’s Lehi, Utah, facility has been home to a highly skilled team with expertise in all aspects of advanced semiconductor manufacturing. TI will offer all Lehi site team members the opportunity to become employees upon the closing of the sale and intends to deploy its own technologies at the site. The sale is anticipated to close later this calendar year.

It opened the trading session at $74.66, the shares rose to $75.92 and dropped to $73.77, the range by which the price of stock traded the whole day. The daily chart for MU points out that the company has recorded -11.82% loss over the past six months. However, it is still -78.44% lower than its most recent low trading price.

If we look at the average trading volume of 19.28M shares, MU reached to a volume of 14733417 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 $118.82 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 Hold, with their previous recommendation back on July 01, 2021. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $90 to $110. The new note on the price target was released on June 30, 2021, representing the official price target for Micron Technology Inc. stock. On May 20, 2021, analysts decreased their price target for MU shares from 137 to 115.

The Average True Range (ATR) for Micron Technology Inc. is set at 2.30, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 3.41. The Price to Book ratio for the last quarter was 2.00, with the Price to Cash per share for the same quarter was set at 7.23.

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 -3.90. With this latest performance, MU shares dropped by -2.03% in over the last four-week period, additionally sinking by -11.82% over the last 6 months – not to mention a rise of 47.22% 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 39.06, with the RSI for the last a single of trading hit 35.97, and the three-weeks RSI is set at 41.14 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 80.18, while it was recorded at 76.08 for the last single week of trading, and 76.59 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 2.60 and a Current Ratio set at 3.40.

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

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 63.56%.

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

There are presently around $69,261 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 $6.5 billion in MU stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $3.42 billion in MU stock with ownership of nearly -6.43% 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 June and at the time of the June reporting period, where 689 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 69,269,245 shares. Additionally, 509 investors decreased positions by around 83,747,915 shares, while 166 investors held positions by with 765,691,835 shares. The mentioned changes placed institutional holdings at 918,708,995 shares, according to the latest SEC report filing. MU stock had 180 new institutional investments in for a total of 15,277,984 shares, while 92 institutional investors sold positions of 14,949,399 shares during the same period.

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