Micron Technology Inc. [NASDAQ: MU] gained 1.99% on the last trading session, reaching $93.25 price per share at the time. The company report on March 11, 2024 at 4:01 PM that Micron Appoints Robert Swan to its Board of Directors.
Swan’s extensive background includes his tenure as CFO and later CEO of Intel Corporation, where he oversaw 110,000 employees and $78B in annual sales. Prior to joining Intel, as CFO of eBay, Swan played a significant role in driving the company’s global expansion strategy. Swan also held notable roles as CFO at Electronic Data Systems Corp., TRW Inc., and Webvan Group, Inc., where he additionally served as COO and CEO.
If compared to the average trading volume of 15.68M shares, MU reached a trading volume of 28845255 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 $107.76 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 1.57. 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.
TD Cowen have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 15, 2024. While these analysts kept the previous recommendation, Citigroup dropped their target price from $95 to $150. The new note on the price target was released on March 15, 2024, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise from $80 to $120, while Stifel kept a Buy rating on MU stock.
The Average True Range (ATR) for Micron Technology Inc. is set at 3.22, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 6.36. The Price to Book ratio for the last quarter was 2.40, 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 -4.48. With this latest performance, MU shares gained by 13.96% in over the last four-week period, additionally plugging by 29.89% over the last 6 months – not to mention a rise of 72.27% 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 54.45, with the RSI for the last a single of trading hit 51.87, and the three-weeks RSI is set at 55.61 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 87.59, while it was recorded at 94.15 for the last single week of trading, and 74.58 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%.
