Micron Technology Inc. [MU] is 23.90% higher this YTD. Is it still time to buy?


Micron Technology Inc. [NASDAQ: MU] stock went on a downward path that fall over -0.79% on Friday, amounting to a one-week price decrease of less than -1.35%. The company report on December 22, 2021 that Micron Appoints Rob Beard as SVP, General Counsel and Corporate Secretary.

Micron Technology, Inc. (Nasdaq: MU), today announced the appointment of Rob Beard as senior vice president, general counsel and corporate secretary. Beard succeeds Joel Poppen, who earlier this year announced his plans to retire after more than 26 years of exemplary service to the company, including serving as Micron’s senior vice president of Legal Affairs, general counsel and corporate secretary since 2013. Beard will lead Micron’s global legal, intellectual property, and compliance and ethics functions, comprising a strong team of lawyers, paralegals and other professionals across Micron’s global footprint.

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“Rob’s deep expertise, legal acumen and outstanding track record will make a strong addition to our leadership team as we continue to execute on our growth strategy,” said Micron President and Chief Executive Officer Sanjay Mehrotra. “He is a proven leader, partnering across global teams to achieve results in alignment with our mission and values for our customers and company.”.

Over the last 12 months, MU stock rose by 23.90%. The one-year Micron Technology Inc. stock forecast points to a potential upside of 12.79. The average equity rating for MU stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $99.84 billion, with 1.12 billion shares outstanding and 1.12 billion shares in the current float. Compared to the average trading volume of 19.04M shares, MU stock reached a trading volume of 12600411 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $106.81 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 December 21, 2021. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $76 to $100. The new note on the price target was released on December 21, 2021, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise from $90 to $99, while UBS kept a Buy rating on MU stock. On December 06, 2021, analysts increased their price target for MU shares from 80 to 99.

The Average True Range (ATR) for Micron Technology Inc. is set at 3.21, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 3.37. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 8.05.

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 -1.35. With this latest performance, MU shares gained by 9.40% in over the last four-week period, additionally plugging by 15.96% over the last 6 months – not to mention a rise of 23.90% 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 62.76, with the RSI for the last a single of trading hit 61.82, and the three-weeks RSI is set at 62.82 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 80.67, while it was recorded at 94.12 for the last single week of trading, and 79.52 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

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 23.80%.

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Micron Technology Inc. [MU] Insider Position Details

There are presently around $82,597 million, or 80.40% 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 $8.05 billion in MU stocks shares; and STATE STREET CORP, currently with $4.31 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 586 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 87,775,645 shares. Additionally, 611 investors decreased positions by around 97,657,832 shares, while 178 investors held positions by with 701,273,456 shares. The mentioned changes placed institutional holdings at 886,706,933 shares, according to the latest SEC report filing. MU stock had 127 new institutional investments in for a total of 9,992,732 shares, while 164 institutional investors sold positions of 14,450,557 shares during the same period.