Wall Street Analyst Downgrade Micron Technology Inc. [MU]. What else is Wall St. saying

Micron Technology Inc. [NASDAQ: MU] price plunged by -3.69 percent to reach at -$2.39. The company report on August 2, 2022 that Micron Technology Announces Upcoming Investor Event.


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Micron Technology, Inc. (Nasdaq: MU), today announced company executives will take part in a fireside chat at the KeyBanc Technology Leadership Forum at the Grand Hyatt Hotel in Vail. The event will be webcast live on Tuesday, Aug. 9, at 8:30 a.m. Mountain time.

Live webcasts and subsequent replays of presentations can be accessed from Micron’s Investor Relations website at Investor Relations | Micron Technology.

A sum of 15038708 shares traded at recent session while its average daily volume was at 17.96M shares. Micron Technology Inc. shares reached a high of $63.215 and dropped to a low of $61.795 until finishing in the latest session at $62.46.

The one-year MU stock forecast points to a potential upside of 19.35. The average equity rating for MU stock is currently 2.10, 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 $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 2.23, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.21. The Price to Book ratio for the last quarter was 1.41, 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 15.95 with Quick ratio for the last quarter at 2.40.

MU Stock Performance Analysis:

Micron Technology Inc. [MU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.97. With this latest performance, MU shares gained by 6.13% in over the last four-week period, additionally sinking by -23.80% over the last 6 months – not to mention a drop of -23.35% 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 52.46, with the RSI for the last a single of trading hit 52.78, and the three-weeks RSI is set at 50.63 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 62.04, while it was recorded at 63.31 for the last single week of trading, and 75.57 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 3.20.

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 10.52%.

Micron Technology Inc. [MU] Insider Position Details

There are presently around $55,632 million, or 83.10% 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 $5.44 billion in MU stocks shares; and STATE STREET CORP, currently with $2.91 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 684 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 63,655,089 shares. Additionally, 656 investors decreased positions by around 79,879,414 shares, while 189 investors held positions by with 747,140,665 shares. The mentioned changes placed institutional holdings at 890,675,168 shares, according to the latest SEC report filing. MU stock had 130 new institutional investments in for a total of 5,521,652 shares, while 189 institutional investors sold positions of 15,674,707 shares during the same period.

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