Micron Technology Inc. [MU] is 38.14% higher this YTD. Is it still time to buy?

Micron Technology Inc. [NASDAQ: MU] stock went on a downward path that fall over -1.14% on Thursday, amounting to a one-week price increase of more than 7.32%. The company report on March 20, 2024 at 4:06 PM that Micron Technology, Inc. Reports Results for the Second Quarter of Fiscal 2024.

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Over the last 12 months, MU stock rose by 98.87%. The one-year Micron Technology Inc. stock forecast points to a potential upside of 11.11. The average equity rating for MU stock is currently 1.58, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $130.55 billion, with 1.11 billion shares outstanding and 1.10 billion shares in the current float. Compared to the average trading volume of 18.61M shares, MU stock reached a trading volume of 20722401 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 $132.62 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 1.58. 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.

Fox Advisors have made an estimate for Micron Technology Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 21, 2024. The new note on the price target was released on March 21, 2024, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise from $120 to $150, while TD Cowen kept a Outperform rating on MU stock. On March 18, 2024, analysts increased their price target for MU shares from 100 to 120.

The Average True Range (ATR) for Micron Technology Inc. is set at 4.49, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 7.13. The Price to Book ratio for the last quarter was 2.97, with the Price to Cash per share for the same quarter was set at 8.13.

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 7.32. With this latest performance, MU shares gained by 31.41% in over the last four-week period, additionally plugging by 72.83% over the last 6 months – not to mention a rise of 98.87% 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 77.10, with the RSI for the last a single of trading hit 80.53, and the three-weeks RSI is set at 74.22 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 92.12, while it was recorded at 116.66 for the last single week of trading, and 76.43 for the last 200 days.

Insight into Micron Technology Inc. Fundamentals:

Micron Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 3.74.

MU Stock EPS

With the latest financial reports released by the company, Micron Technology Inc. posted -1.43/share EPS, while the average EPS was predicted by analysts to be reported at -1.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.50%. 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%.

Micron Technology Inc. [MU] Institutonal Ownership Details

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%.