Micron Technology Inc. [MU] Is Currently 3.70 below its 200 Period Moving Avg: What Does This Mean?

Micron Technology Inc. [NASDAQ: MU] surged by $2.05 during the normal trading session on Friday and reaching a high of $57.68 during the day while it closed the day at $57.44. The company report on September 1, 2022 that Micron to Invest $15 Billion in New Idaho Fab, Bringing Leading-Edge Memory Manufacturing to the US.

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First new memory fab in the U.S. in 20 years will create an estimated 17,000 new American jobs.

Micron to Invest 15 Billion in New Idaho Fab, Bringing Leading-Edge Memory Manufacturing to the US.

Micron Technology Inc. stock has also gained 0.23% of its value over the past 7 days. However, MU stock has declined by -13.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -24.14% and lost -38.34% year-on date.

The market cap for MU stock reached $61.10 billion, with 1.11 billion shares outstanding and 1.10 billion shares in the current float. Compared to the average trading volume of 16.90M shares, MU reached a trading volume of 13899373 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $74.33 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.

Raymond James have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 09, 2022. The new note on the price target was released on July 22, 2022, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another drop from $70 to $62, while BofA Securities kept a Neutral rating on MU stock.

The Average True Range (ATR) for Micron Technology Inc. is set at 2.22, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 1.89. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 9.61. Price to Free Cash Flow for MU in the course of the last twelve months was 13.63 with Quick ratio for the last quarter at 2.40.

MU stock trade performance evaluation

Micron Technology Inc. [MU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.23. With this latest performance, MU shares dropped by -6.45% in over the last four-week period, additionally sinking by -24.14% over the last 6 months – not to mention a drop of -21.17% 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 46.10, with the RSI for the last a single of trading hit 48.28, and the three-weeks RSI is set at 45.72 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 59.88, while it was recorded at 55.88 for the last single week of trading, and 73.91 for the last 200 days.

Micron Technology Inc. [MU]: An insightful look at the core 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 per share (EPS) analysis for Micron Technology Inc. [MU] stock

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 0.48%.

Micron Technology Inc. [MU]: Insider Ownership positions

There are presently around $51,232 million, or 82.50% of MU stock, in the hands of institutional investors. The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 91,443,083, which is approximately 1.033% of the company’s market cap and around 0.26% of the total institutional ownership; BLACKROCK INC., holding 84,809,842 shares of the stock with an approximate value of $4.87 billion in MU stocks shares; and STATE STREET CORP, currently with $2.6 billion in MU stock with ownership of nearly -2.803% of the company’s market capitalization.

Positions in Micron Technology Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 671 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 57,168,139 shares. Additionally, 648 investors decreased positions by around 60,437,509 shares, while 190 investors held positions by with 774,320,489 shares. The mentioned changes placed institutional holdings at 891,926,137 shares, according to the latest SEC report filing. MU stock had 119 new institutional investments in for a total of 10,564,550 shares, while 203 institutional investors sold positions of 10,450,932 shares during the same period.


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