Micron Technology Inc. [MU] Revenue clocked in at $18.17 billion, up 41.06% YTD: What’s Next?

Micron Technology Inc. [NASDAQ: MU] stock went on an upward path that rose over 0.89% on Monday, amounting to a one-week price increase of more than 0.67%. The company report on August 29, 2023 at 4:01 PM that Micron Technology to Report Fiscal Fourth Quarter Results on September 27, 2023.

The call will be webcast live at investors.micron.com. Webcast replays of presentations can be accessed from Micron’s Investor Relations website for approximately one year after the call.

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Over the last 12 months, MU stock rose by 33.80%. The one-year Micron Technology Inc. stock forecast points to a potential upside of 7.04. The average equity rating for MU stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $79.33 billion, with 1.09 billion shares outstanding and 1.09 billion shares in the current float. Compared to the average trading volume of 14.25M shares, MU stock reached a trading volume of 12728731 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $75.84 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 2.20. 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.

Deutsche Bank have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Sep-19-23.

The Average True Range (ATR) for Micron Technology Inc. is set at 1.76, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 4.37. The Price to Book ratio for the last quarter was 1.70, with the Price to Cash per share for the same quarter was set at 9.20.

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 0.67. With this latest performance, MU shares gained by 10.92% in over the last four-week period, additionally plugging by 24.43% over the last 6 months – not to mention a rise of 33.80% 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 58.64, with the RSI for the last a single of trading hit 59.28, and the three-weeks RSI is set at 57.28 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 67.14, while it was recorded at 70.67 for the last single week of trading, and 61.93 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 +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 2.60 and a Current Ratio set at 4.30.

Micron Technology Inc. [MU] Institutonal Ownership Details

The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in MU stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in MU stock with ownership which is approximately 5.7381%.

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