Micron Technology Inc. [MU] Revenue clocked in at $27.16 billion, up 22.37% YTD: What’s Next?

Micron Technology Inc. [NASDAQ: MU] plunged by -$0.18 during the normal trading session on Friday and reaching a high of $61.40 during the day while it closed the day at $61.16. The company report on March 13, 2023 that Micron Releases ‘We Are Micron’ 2022 Diversity, Equality and Inclusion Report.

Initiatives creating readiness for the workforce of the future and highlighting ongoing commitment to diversity.

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Micron Technology Inc. stock has also gained 7.94% of its value over the past 7 days. However, MU stock has inclined by 19.48% in the 3 months of the year. Over the past six months meanwhile, it has gained 23.16% and gained 22.37% year-on date.

The market cap for MU stock reached $66.93 billion, with 1.09 billion shares outstanding and 1.09 billion shares in the current float. Compared to the average trading volume of 14.02M shares, MU reached a trading volume of 18716151 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 $64.97 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.

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 March 02, 2023. While these analysts kept the previous recommendation, Mizuho raised their target price from $48 to $72. The new note on the price target was released on February 10, 2023, representing the official price target for Micron Technology Inc. stock. On December 22, 2022, analysts decreased their price target for MU shares from 75 to 70.

The Average True Range (ATR) for Micron Technology Inc. is set at 1.99, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 9.67. Price to Free Cash Flow for MU in the course of the last twelve months was 145.51 with Quick ratio for the last quarter at 2.20.

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 7.94. With this latest performance, MU shares gained by 4.10% in over the last four-week period, additionally plugging by 23.16% over the last 6 months – not to mention a drop of -19.15% 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 63.37, with the RSI for the last a single of trading hit 70.99, and the three-weeks RSI is set at 59.14 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 58.79, while it was recorded at 59.39 for the last single week of trading, and 57.14 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 +31.76 and a Gross Margin at +45.36. Micron Technology Inc.’s Net Margin is presently recorded at +28.24.

Return on Total Capital for MU is now 17.97, given the latest momentum, and Return on Invested Capital for the company is 16.03. Return on Equity for this stock inclined to 18.51, with Return on Assets sitting at 13.88. When it comes to the capital structure of this company, Micron Technology Inc. [MU] has a Total Debt to Total Equity ratio set at 15.18. Additionally, MU Total Debt to Total Capital is recorded at 13.18, with Total Debt to Total Assets ending up at 11.43. Long-Term Debt to Equity for the company is recorded at 14.85, with the Long-Term Debt to Total Capital now at 12.90.

Reflecting on the efficiency of the workforce at the company, Micron Technology Inc. [MU] managed to generate an average of $180,979 per employee. Receivables Turnover for the company is 5.89 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 2.20 and a Current Ratio set at 3.50.

Micron Technology Inc. [MU]: Insider Ownership positions

There are presently around $54,580 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 $5.26 billion in MU stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $3.96 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 Tuesday and at the time of the Tuesday reporting period, where 519 institutional holders increased their position in Micron Technology Inc. [NASDAQ:MU] by around 95,627,542 shares. Additionally, 679 investors decreased positions by around 69,928,332 shares, while 184 investors held positions by with 726,854,109 shares. The mentioned changes placed institutional holdings at 892,409,983 shares, according to the latest SEC report filing. MU stock had 150 new institutional investments in for a total of 8,902,568 shares, while 150 institutional investors sold positions of 16,296,375 shares during the same period.


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