Micron Technology Inc. [NASDAQ: MU] price plunged by -8.68 percent to reach at -$8.81.
The one-year MU stock forecast points to a potential upside of 46.77. The average equity rating for MU stock is currently 1.41, trading closer to a bullish pattern in the stock market.
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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 $174.16 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 1.41. 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 Buy, with their previous recommendation back on June 27, 2024. While these analysts kept the previous recommendation, Needham raised their target price from $120 to $150. The new note on the price target was released on June 27, 2024, representing the official price target for Micron Technology Inc. stock. Previously, the target price had yet another raise from $130 to $170, while Wedbush kept a Outperform rating on MU stock. On June 18, 2024, analysts increased their price target for MU shares from 140 to 165.
The Average True Range (ATR) for Micron Technology Inc. is set at 5.92, with the Price to Sales ratio for MU stock in the period of the last 12 months amounting to 4.81. The Price to Book ratio for the last quarter was 2.32, with the Price to Cash per share for the same quarter was set at 7.56.
MU Stock Performance Analysis:
Micron Technology Inc. [MU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.27. With this latest performance, MU shares dropped by -32.25% in over the last four-week period, additionally plugging by 8.28% over the last 6 months – not to mention a rise of 35.98% 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 27.10, with the RSI for the last a single of trading hit 23.40, and the three-weeks RSI is set at 31.09 for Micron Technology Inc. [MU]. The present Moving Average for the last 50 days of trading for this stock 127.77, while it was recorded at 102.89 for the last single week of trading, and 101.28 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 2.16 and a Current Ratio set at 3.41.
MU Stock EPS
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 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in MU stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in MU stock with ownership which is approximately 5.1238%.
