Micron Technology Inc. (NASDAQ: MU) is 2.77% higher on its value in year-to-date trading and has touched a low of $31.13 and a high of $78.61 in the current 52-week trading range. The MU stock was last observed hovering at around $74.05 in the last trading session, with the day’s gains setting it 3.21% off its average median price target of $85.00 for the next 12 months. It is also 33.97% off the consensus price target high of $117.00 offered by 35 analysts, but current levels are -28.77% lower than the price target low of $60.00 for the same period.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .
Currently trading at $77.26, the stock is 7.44% and 21.53% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 32.96 million and changing 4.33% at the moment leaves the stock 49.49% off its SMA200. MU registered 44.24% gain for a year compared to 6-month gain of 57.38%. The firm has a 50-day simple moving average (SMA 50) of $68.85 and a 200-day simple moving average (SMA200) of $54.23.
The stock witnessed a 10.53% loss in the last 1 month and extending the period to 3 months gives it a 62.31%, and is 9.34% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.24% over the week and 3.12% over the month.
Micron Technology Inc. (MU) has around 40000 employees, a market worth around $82.55B and $21.44B in sales. Current P/E ratio is 32.50 and Fwd P/E is 10.75. Profit margin for the company is 12.50%. Distance from 52-week low is 148.19% and -1.72% from its 52-week high. The company has generated returns on investments over the last 12 months (6.10%).
Micron Technology Inc. (MU) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Micron Technology Inc. (MU) is a “Buy”. 35 analysts offering their recommendations for the stock have an average rating of 2.00, where 5 rate it as a Hold and 1 think it is a “Overweight”. 28 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Micron Technology Inc. is expected to release its quarterly report on 03/25/2021 and quarterly earnings per share for the current quarter are estimated at $0.71 with sales reaching $5.73B over the same period.The EPS is expected to shrink by -56.90% this year, but quarterly earnings will post 13.80% year-over-year. Quarterly sales are estimated to grow 11.40% in year-over-year returns.
Micron Technology Inc. (MU) Top Institutional Holders
1,456 institutions hold shares in Micron Technology Inc. (MU), with 2.1M shares held by insiders accounting for 0.19% while institutional investors hold 84.47% of the company’s shares. The shares outstanding are 1.12B, and float is at 1.11B with Short Float at 2.35%. Institutions hold 84.31% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 88.75 million shares valued at $4.17 billion. The investor’s holdings represent 7.95% of the MU Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 81.54 million shares valued at $3.83 billion to account for 7.30% of the shares outstanding. The other top investors are Primecap Management Company which holds 50.41 million shares representing 4.51% and valued at over $2.37 billion, while State Street Corporation holds 4.22% of the shares totaling 47.14 million with a market value of $2.21 billion.
Micron Technology Inc. (MU) Insider Activity
The most recent transaction is an insider sale by Zinsner David, the company’s SVP & Chief Financial Officer. SEC filings show that Zinsner David sold 9,051 shares of the company’s common stock on Dec 18 at a price of $72.17 per share for a total of $0.65 million. Following the sale, the insider now owns 0.13 million shares.
Micron Technology Inc. disclosed in a document filed with the SEC on Dec 04 that Deboer Scott J (EVP, Technology & Products) sold a total of 17,538 shares of the company’s common stock. The trade occurred on Dec 04 and was made at $72.00 per share for $1.26 million. Following the transaction, the insider now directly holds 0.14 million shares of the MU stock.
Still, SEC filings show that on Dec 03, Deboer Scott J (EVP, Technology & Products) disposed off 10,000 shares at an average price of $70.72 for $0.71 million. The insider now directly holds 138,722 shares of Micron Technology Inc. (MU).
Micron Technology Inc. (MU): Who are the competitors?
The company’s main competitors (and peers) include MoSys Inc. (MOSY) that is trading 44.94% up over the past 12 months. Intel Corporation (INTC) is -15.55% down on the 1-year trading charts. Short interest in the company’s stock has fallen -8.06% from the last report on Nov 12, 2020 to stand at a total of 28.14 million short shares sold with a short interest ratio of 1.38.