Micron Technology Inc. [NASDAQ: MU] gained 5.01% or 4.54 points to close at $95.15 with a heavy trading volume of 23409183 shares. The company report on February 27, 2024 at 3:00 AM that Micron Collaborates with Samsung on Galaxy S24 Series to Unlock the Era of Mobile AI Experiences.
Samsung’s flagship Galaxy S24 Ultra, S24+ and S24 incorporate Micron’s high-performance, power-efficient LPDDR5X and UFS 4.0.
The daily chart for MU points out that the company has recorded 39.74% gains over the past six months.
If we look at the average trading volume of 14.83M shares, MU reached to a volume of 23409183 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 $99.92 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. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $70 to $95. The new note on the price target was released on January 04, 2024, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise from $100 to $140, while Rosenblatt kept a Buy rating on MU stock. On December 21, 2023, analysts increased their price target for MU shares from 85 to 100.
The Average True Range (ATR) for Micron Technology Inc. is set at 2.78, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 6.49. The Price to Book ratio for the last quarter was 2.45, 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] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.64. With this latest performance, MU shares gained by 10.96% in over the last four-week period, additionally plugging by 39.74% over the last 6 months – not to mention a rise of 65.94% 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 69.44, with the RSI for the last a single of trading hit 74.89, and the three-weeks RSI is set at 66.05 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 85.38, while it was recorded at 91.36 for the last single week of trading, and 73.20 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%.
