Micron Technology Inc. [MU] is -36.90% lower this YTD. Is it still time to buy?


Micron Technology Inc. [NASDAQ: MU] gained 0.58% on the last trading session, reaching $58.78 price per share at the time. The company report on June 21, 2022 that Micron Unveils World’s First 1.5TB microSD Card and Automotive Functional Safety-Certified Memory to Fuel Data at Intelligent Edge.

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Embedded solutions and partnerships bring Micron’s 176-layer NAND and 1α DRAM innovations to industrial and automotive markets.

Embedded World – Micron Technology, Inc. (Nasdaq: MU), today announced expansions to its embedded product portfolio and ecosystem partnerships to deliver powerful solutions optimized for complex memory and storage demands at the intelligent edge. The company is sampling to customers the world’s highest-capacity microSD card, the i400, at an unprecedented density of 1.5 terabytes (TB). This card is designed for industrial-grade video security with the world’s first 176-layer 3D NAND, also pioneered by Micron. To better provide its high-performance, ruggedized solutions to the industrial market, Micron is also adding partners to its Industrial Quotient (IQ) partner program. Additionally, the company is announcing it has received the first International Organization of Standardization (ISO) 26262 Automotive Safety Integrity Level (ASIL) D certification of memory for its low-power double data rate 5 (LPDDR5) DRAM, which is based on its first-to-market 1α (1-alpha) process node. With next-generation advanced driver-assistance systems (ADAS) applications requiring increasing levels of autonomy and safety, this certification validates that Micron’s LPDDR5 meets strict functional safety standards and positions it to enable innovations that will unleash full autonomy in intelligent vehicles.

Micron Technology Inc. represents 1.12 billion in outstanding shares, while the company has a total market value of $63.14 billion with the latest information. MU stock price has been found in the range of $58.37 to $60.045.

If compared to the average trading volume of 20.25M shares, MU reached a trading volume of 16126624 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 $99.85 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 June 13, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $90 to $70. The new note on the price target was released on June 03, 2022, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise to $94, while Bernstein analysts kept a Outperform rating on MU stock. On February 14, 2022, analysts increased their price target for MU shares from 100 to 120.

The Average True Range (ATR) for Micron Technology Inc. is set at 2.86, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.03. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 9.42. Price to Free Cash Flow for MU in the course of the last twelve months was 13.62 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for MU stock

Micron Technology Inc. [MU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.43. With this latest performance, MU shares dropped by -13.39% in over the last four-week period, additionally sinking by -37.75% over the last 6 months – not to mention a drop of -28.34% 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 38.81, with the RSI for the last a single of trading hit 40.05, and the three-weeks RSI is set at 39.50 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 67.55, while it was recorded at 57.32 for the last single week of trading, and 77.13 for the last 200 days.

Micron Technology Inc. [MU]: A deeper dive into fundamental analysis

Micron Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 3.10.

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 29.65%.

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

There are presently around $52,746 million, or 82.40% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 90,507,938, which is approximately 1.16% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 87,124,926 shares of the stock with an approximate value of $5.09 billion in MU stocks shares; and STATE STREET CORP, currently with $2.72 billion in MU stock with ownership of nearly -1.567% of the company’s market capitalization.

744 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 71,358,030 shares. Additionally, 631 investors decreased positions by around 73,046,125 shares, while 194 investors held positions by with 758,165,904 shares. The mentioned changes placed institutional holdings at 902,570,059 shares, according to the latest SEC report filing. MU stock had 163 new institutional investments in for a total of 4,789,265 shares, while 165 institutional investors sold positions of 15,704,957 shares during the same period.