Micron Technology Inc. [NASDAQ: MU] traded at a low on 02/24/23, posting a -0.97 loss after which it closed the day’ session at $58.18. The company report on February 16, 2023 that Micron Technology to Report Fiscal Second Quarter Results on March 28, 2023.
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The call will be webcast live at http://investors.micron.com/. Webcast replays of presentations can be accessed from Micron’s Investor Relations website for approximately one year after the call.
The results of the trading session contributed to over 9857832 shares changing hands. Over the past one week, the price volatility of Micron Technology Inc. stands at 3.11% while the volatility over the past one month is 3.25%.
The market cap for MU stock reached $64.11 billion, with 1.09 billion shares outstanding and 1.09 billion shares in the current float. Compared to the average trading volume of 15.00M shares, MU reached a trading volume of 9857832 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 $65.13 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 2.30. 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.
Mizuho have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 10, 2023. The new note on the price target was released on December 30, 2022, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another drop from $75 to $70, while UBS kept a Buy rating on MU stock. On December 22, 2022, analysts decreased their price target for MU shares from 54 to 52.
The Average True Range (ATR) for Micron Technology Inc. is set at 2.06, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.36. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 9.60. Price to Free Cash Flow for MU in the course of the last twelve months was 139.36 with Quick ratio for the last quarter at 2.20.
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 -3.11. With this latest performance, MU shares dropped by -5.46% in over the last four-week period, additionally sinking by -0.22% over the last 6 months – not to mention a drop of -33.36% 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 46.39, with the RSI for the last a single of trading hit 42.84, and the three-weeks RSI is set at 48.71 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 57.11, while it was recorded at 58.10 for the last single week of trading, and 58.50 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 +31.76 and a Gross Margin at +45.36. Micron Technology Inc.’s Net Margin is presently recorded at +28.24.
Return on Equity for this stock inclined to 18.51, with Return on Assets sitting at 13.88.
Micron Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 3.50.
Insider trade positions for Micron Technology Inc. [MU]
There are presently around $51,923 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 91,568,443, which is approximately -0.041% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 86,064,240 shares of the stock with an approximate value of $5.01 billion in MU stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $3.77 billion in MU stock with ownership of nearly 36.4% of the company’s market capitalization.
Positions in Micron Technology Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 518 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 95,535,872 shares. Additionally, 679 investors decreased positions by around 69,916,796 shares, while 184 investors held positions by with 727,008,317 shares. The mentioned changes placed institutional holdings at 892,460,985 shares, according to the latest SEC report filing. MU stock had 148 new institutional investments in for a total of 8,810,824 shares, while 151 institutional investors sold positions of 16,300,776 shares during the same period.