Morgan Stanley slashes price target on Micron Technology Inc. [MU] – find out why.


Micron Technology Inc. [NASDAQ: MU] slipped around -1.14 points on Monday, while shares priced at $60.15 at the close of the session, down -1.86%. The company report on July 18, 2022 that Micron to Select Athinia™ for Pioneering Data Collaboration.

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A long-term, strategic, enterprise-level technology collaboration aims to further increase production efficiencies and reduce costs for Micron and its suppliers.

Today, Athinia™ announced that Micron Technology, Inc. (Nasdaq: MU), a global leader in innovative memory and storage solutions, plans to use the Athinia™ data analytics platform to create a pioneering data collaboration ecosystem that will help lead a continued journey of digital transformation with Micron’s critical suppliers. Athinia™’s state-of-the-art AI-driven quality control methodology will be able to further improve process and device yield, reduce costs and accelerate time to value generation using select data and insights from Micron’s supply chain. Athinia™, launched in December 2021, is a partnership between Merck (DAX:MKGAF) and Palantir Technologies Inc. (NYSE:PLTR).

Micron Technology Inc. stock is now -35.43% down from its year-to-date (YTD) trading value. MU Stock saw the intraday high of $61.83 and lowest of $59.70 per share. The company’s 52-week high price is 98.45, which means current price is +17.02% above from all time high which was touched on 01/05/22.

Compared to the average trading volume of 18.68M shares, MU reached a trading volume of 14436455 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 $77.45 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 2.10. 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.

Morgan Stanley have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 22, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $70 to $62. The new note on the price target was released on July 01, 2022, representing the official price target for Micron Technology Inc. stock. On June 03, 2022, analysts decreased their price target for MU shares from 90 to 70.

The Average True Range (ATR) for Micron Technology Inc. is set at 2.33, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 8.93. Price to Free Cash Flow for MU in the course of the last twelve months was 15.37 with Quick ratio for the last quarter at 2.40.

How has MU stock performed recently?

Micron Technology Inc. [MU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.50. With this latest performance, MU shares gained by 6.99% in over the last four-week period, additionally sinking by -26.58% over the last 6 months – not to mention a drop of -20.79% 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 48.12, with the RSI for the last a single of trading hit 48.54, and the three-weeks RSI is set at 46.76 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 63.40, while it was recorded at 62.16 for the last single week of trading, and 75.83 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 +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 3.20.

Earnings analysis for Micron Technology Inc. [MU]

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 10.52%.

Insider trade positions for Micron Technology Inc. [MU]

There are presently around $53,943 million, or 83.60% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 90,507,938, which is approximately 1.16% of the company’s market cap and around 0.26% of the total institutional ownership; BLACKROCK INC., holding 87,124,926 shares of the stock with an approximate value of $5.24 billion in MU stocks shares; and STATE STREET CORP, currently with $2.8 billion in MU stock with ownership of nearly -1.567% of the company’s market capitalization.

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 713 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 70,428,579 shares. Additionally, 639 investors decreased positions by around 72,246,071 shares, while 190 investors held positions by with 754,128,438 shares. The mentioned changes placed institutional holdings at 896,803,088 shares, according to the latest SEC report filing. MU stock had 145 new institutional investments in for a total of 4,749,296 shares, while 171 institutional investors sold positions of 15,583,127 shares during the same period.