Micron Technology Inc. [MU] Revenue clocked in at $32.39 billion, down -43.26% YTD: What’s Next?

Micron Technology Inc. [NASDAQ: MU] gained 0.30% or 0.16 points to close at $52.85 with a heavy trading volume of 24775699 shares. The company report on September 12, 2022 that Micron Breaks Ground on Leading-Edge Manufacturing Fab in Boise, Idaho.

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Company celebrates initiation of historic $15 billion investment; construction expected to begin early in 2023, with DRAM production slated for second half of the decade.

Micron Technology, Inc. (NASDAQ: MU), one of the world’s largest semiconductor companies and the only U.S.-based manufacturer of memory, broke ground on its leading-edge memory manufacturing fab in Boise, Idaho. This will be the first new memory manufacturing fab in the United States in 20 years. Micron marked the occasion with a ceremony attended by U.S. Secretary of Energy Jennifer M. Granholm, White House Office of Science and Technology Policy Acting Director Dr. Alondra Nelson, Senator Jim Risch, Idaho Governor Brad Little and Boise Mayor Lauren McLean.

It opened the trading session at $51.89, the shares rose to $53.01 and dropped to $51.49, the range by which the price of stock traded the whole day. The daily chart for MU points out that the company has recorded -34.36% loss over the past six months. However, it is still -2.82% lower than its most recent low trading price.

If we look at the average trading volume of 16.58M shares, MU reached to a volume of 24775699 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 $73.00 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.

Exane BNP Paribas have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 13, 2022. While these analysts kept the previous recommendation, Raymond James dropped their target price from $72 to $65. The new note on the price target was released on August 09, 2022, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise to $56, while Morgan Stanley analysts kept a Underweight rating on MU stock. On July 01, 2022, analysts decreased their price target for MU shares from 70 to 62.

The Average True Range (ATR) for Micron Technology Inc. is set at 2.19, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 1.79. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 9.30. Price to Free Cash Flow for MU in the course of the last twelve months was 12.96 with Quick ratio for the last quarter at 2.40.

Trading performance analysis for MU stock

Micron Technology Inc. [MU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.99. With this latest performance, MU shares dropped by -14.23% in over the last four-week period, additionally sinking by -34.36% over the last 6 months – not to mention a drop of -29.18% 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 35.98, with the RSI for the last a single of trading hit 32.51, and the three-weeks RSI is set at 38.58 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 59.64, while it was recorded at 54.04 for the last single week of trading, and 73.13 for the last 200 days.

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

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.

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 0.48%.

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

There are presently around $47,139 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 0.27% of the total institutional ownership; BLACKROCK INC., holding 84,809,842 shares of the stock with an approximate value of $4.48 billion in MU stocks shares; and STATE STREET CORP, currently with $2.39 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 57,176,404 shares. Additionally, 649 investors decreased positions by around 60,441,515 shares, while 189 investors held positions by with 774,325,267 shares. The mentioned changes placed institutional holdings at 891,943,186 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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