Micron Technology Inc. [NASDAQ: MU] gained 85.56% on the last trading session, reaching $84.88 price per share at the time. The company report on January 22, 2024 at 9:00 AM that Micron Appoints Michael Ray as Chief Legal Officer and Corporate Secretary.
In this role, Ray will report directly to Sanjay Mehrotra, President and CEO of Micron. He will be responsible for Micron’s global legal, compliance and intellectual property functions, comprising a team of lawyers, paralegals and other professionals.
If compared to the average trading volume of 0.86 shares, MU reached a trading volume of 14.09M 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 $99.55 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 1.69. 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.
Cantor Fitzgerald have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 23, 2024.
The Average True Range (ATR) for Micron Technology Inc. is set at 2.18, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 5.84. The Price to Book ratio for the last quarter was 2.20, with the Price to Cash per share for the same quarter was set at 8.20.
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 -1.06. With this latest performance, MU shares gained by 3.86% in over the last four-week period, additionally plugging by 30.75% over the last 6 months – not to mention a rise of 42.01% 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 51.44, with the RSI for the last a single of trading hit 48.67, and the three-weeks RSI is set at 53.51 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 82.94, while it was recorded at 85.44 for the last single week of trading, and 71.51 for the last 200 days.
Micron Technology Inc. [MU]: A deeper dive into fundamental analysis
Micron Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.14 and a Current Ratio set at 3.53.
Micron Technology Inc. [MU]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Micron Technology Inc. posted -1.91/share EPS, while the average EPS was predicted by analysts to be reported at -0.86/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -122.10%. 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 -2.62%.
An analysis of Institutional ownership at Micron Technology Inc. [MU]
The top three institutional holders of MU stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MU stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MU stock with ownership which is approximately 5.8325%.
