Micron Technology Inc. [MU] is 8.57% higher this YTD. Is it still time to buy?

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Micron Technology Inc. [NASDAQ: MU] price plunged by -1.52 percent to reach at -$1.26. The company report on December 1, 2021 that Micron and UMC Expand Relationship to Strengthen Customer Supply Chains.

Micron Technology, Inc. (Nasdaq: MU), an industry leader in innovative memory and storage solutions, announced an expansion of its business relationship with United Microelectronics Corporation (TWSE: 2303; NYSE: UMC), providing Micron opportunities to secure supply for automotive, mobile and critical customers into the future.


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“Expanding our relationship with UMC helps us strengthen our customers’ supply chains and is a great opportunity to increase collaboration across the semiconductor industry,” said Executive Vice President and Head of Global Operations, Manish Bhatia. “This expanded relationship provides Micron continuing access to products that are critical to our automotive and mobile customers, and we look forward to working with UMC in the coming years to deliver our industry-leading memory and storage solutions to our customers globally.”.

A sum of 18872061 shares traded at recent session while its average daily volume was at 18.23M shares. Micron Technology Inc. shares reached a high of $84.43 and dropped to a low of $80.64 until finishing in the latest session at $81.62.

The one-year MU stock forecast points to a potential upside of 17.04. The average equity rating for MU stock is currently 1.90, trading closer to a bullish pattern in the stock market.

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 $98.38 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.

Mizuho have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 23, 2021. While these analysts kept the previous recommendation, Bernstein raised their target price to Underperform. The new note on the price target was released on October 25, 2021, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another drop from $90 to $75, while Mizuho kept a Neutral rating on MU stock.

The Average True Range (ATR) for Micron Technology Inc. is set at 2.91, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 3.06. The Price to Book ratio for the last quarter was 2.09, with the Price to Cash per share for the same quarter was set at 8.32. Price to Free Cash Flow for MU in the course of the last twelve months was 34.74 with Quick ratio for the last quarter at 2.40.

MU Stock Performance Analysis:

Micron Technology Inc. [MU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.16. With this latest performance, MU shares gained by 14.55% in over the last four-week period, additionally sinking by -2.88% over the last 6 months – not to mention a rise of 16.77% 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 56.97, with the RSI for the last a single of trading hit 52.64, and the three-weeks RSI is set at 58.13 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 73.81, while it was recorded at 83.96 for the last single week of trading, and 79.65 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 +24.69 and a Gross Margin at +37.52. Micron Technology Inc.’s Net Margin is presently recorded at +21.16.

Return on Total Capital for MU is now 14.05, given the latest momentum, and Return on Invested Capital for the company is 12.09. Return on Equity for this stock inclined to 14.13, with Return on Assets sitting at 10.42. When it comes to the capital structure of this company, Micron Technology Inc. [MU] has a Total Debt to Total Equity ratio set at 16.57. Additionally, MU Total Debt to Total Capital is recorded at 14.22, with Total Debt to Total Assets ending up at 12.37. Long-Term Debt to Equity for the company is recorded at 16.22, with the Long-Term Debt to Total Capital now at 13.91.

Reflecting on the efficiency of the workforce at the company, Micron Technology Inc. [MU] managed to generate an average of $136,302 per employee. Receivables Turnover for the company is 6.01 with a Total Asset Turnover recorded at a value of 0.49.Micron Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 3.10.

MU Stock EPS

With the latest financial reports released by the company, Micron Technology Inc. posted 1.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.99/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.10%. 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 22.27%.

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Micron Technology Inc. [MU] Insider Position Details

There are presently around $73,427 million, or 80.60% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 89,663,771, which is approximately 1.377% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 86,449,875 shares of the stock with an approximate value of $7.06 billion in MU stocks shares; and STATE STREET CORP, currently with $3.77 billion in MU stock with ownership of nearly 0.495% of the company’s market capitalization.

Positions in Micron Technology Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 591 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 87,796,921 shares. Additionally, 615 investors decreased positions by around 98,285,861 shares, while 178 investors held positions by with 713,540,885 shares. The mentioned changes placed institutional holdings at 899,623,667 shares, according to the latest SEC report filing. MU stock had 131 new institutional investments in for a total of 10,005,967 shares, while 163 institutional investors sold positions of 14,642,185 shares during the same period.