Why should you keep an eye on Micron Technology Inc. (MU)?

Micron Technology Inc. (NASDAQ: MU) is 23.06% higher on its value in year-to-date trading and has touched a low of $31.13 and a high of $91.49 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MU stock was last observed hovering at around $88.23 in the last trading session, with the day’s gains setting it 4.29% off its average median price target of $100.00 for the next 12 months. It is also 33.91% off the consensus price target high of $140.00 offered by 34 analysts, but current levels are -15.65% lower than the price target low of $80.00 for the same period.

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Currently trading at $92.52, the stock is 11.02% and 17.32% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 21.09 million and changing 4.86% at the moment leaves the stock 59.20% off its SMA200. MU registered 77.58% gain for a year compared to 6-month gain of 111.43%. The firm has a 50-day simple moving average (SMA 50) of $82.36 and a 200-day simple moving average (SMA200) of $62.26.

The stock witnessed a 13.83% loss in the last 1 month and extending the period to 3 months gives it a 50.68%, and is 7.52% 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 5.07% over the week and 3.64% over the month.

Micron Technology Inc. (MU) has around 40000 employees, a market worth around $100.74B and $22.06B in sales. Current P/E ratio is 34.91 and Fwd P/E is 11.54. Distance from 52-week low is 197.21% and 1.13% 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”. 34 analysts offering their recommendations for the stock have an average rating of 1.90, where 5 rate it as a Hold and 0 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 03/31/2021 and quarterly earnings per share for the current quarter are estimated at $0.76 with sales reaching $5.83B over the same period.The EPS is expected to shrink by -56.90% this year, but quarterly earnings will post 17.20% year-over-year. Quarterly sales are estimated to grow 21.60% in year-over-year returns.

Micron Technology Inc. (MU) Top Institutional Holders

1,456 institutions hold shares in Micron Technology Inc. (MU), with 2.11M 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 1.12B with Short Float at 1.89%. Institutions hold 84.31% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 87.62 million shares valued at $6.59 billion. The investor’s holdings represent 7.83% of the MU Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 81.9 million shares valued at $6.16 billion to account for 7.32% of the shares outstanding. The other top investors are Primecap Management Company which holds 48.55 million shares representing 4.34% and valued at over $3.65 billion, while State Street Corporation holds 4.13% of the shares totaling 46.25 million with a market value of $3.48 billion.

Micron Technology Inc. (MU) Insider Activity

A total of 114 insider transactions have happened at Micron Technology Inc. (MU) in the last six months, with sales accounting for 63 and purchases happening 51 times. The most recent transaction is an insider sale by Sadana Sumit, the company’s EVP, Chief Business Officer. SEC filings show that Sadana Sumit sold 70,000 shares of the company’s common stock on Feb 16 at a price of $88.00 per share for a total of $6.16 million. Following the sale, the insider now owns 15745.0 shares.

Micron Technology Inc. disclosed in a document filed with the SEC on Feb 16 that Poppen Joel L (SVP, General Counsel&Secretary) sold a total of 46,554 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $87.79 per share for $4.09 million. Following the transaction, the insider now directly holds 0.25 million shares of the MU stock.

Still, SEC filings show that on Feb 16, Zinsner David (SVP & Chief Financial Officer) disposed off 8,050 shares at an average price of $87.90 for $0.71 million. The insider now directly holds 129,292 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 153.91% up over the past 12 months. Intel Corporation (INTC) is 5.79% up on the 1-year trading charts. Short interest in the company’s stock has fallen -16.25% from the last report on Dec 30, 2020 to stand at a total of 24.46 million short shares sold with a short interest ratio of 1.

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