Micron Technology Inc. (MU) Is Up 2.77% in 2021 With Lots of Room to Run

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.

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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).

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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.

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