Micron Technology Inc. (NASDAQ: MU) is 24.98% higher on its value in year-to-date trading and has touched a low of $41.19 and a high of $96.10 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 $93.49 in the last trading session, with the day’s gains setting it 0.47% off its average median price target of $115.00 for the next 12 months. It is also 43.05% off the consensus price target high of $165.00 offered by 34 analysts, but current levels are -4.4% lower than the price target low of $90.00 for the same period.
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Currently trading at $93.96, the stock is 5.58% and 8.41% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 17.59 million and changing 0.50% at the moment leaves the stock 46.70% off its SMA200. MU registered 102.63% gain for a year compared to 6-month gain of 97.39%. The firm has a 50-day simple moving average (SMA 50) of $88.66 and a 200-day simple moving average (SMA200) of $70.90.
The stock witnessed a 10.48% loss in the last 1 month and extending the period to 3 months gives it a 21.62%, and is 8.57% 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 3.00% over the week and 4.05% over the month.
Micron Technology Inc. (MU) has around 40000 employees, a market worth around $100.33B and $23.50B in sales. Current P/E ratio is 33.33 and Fwd P/E is 8.77. Distance from 52-week low is 128.14% and -2.23% 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”. 29 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 07/01/2021 and quarterly earnings per share for the current quarter are estimated at $1.63 with sales reaching $7.09B over the same period.The EPS is expected to shrink by -56.90% this year, but quarterly earnings will post 25.50% year-over-year. Quarterly sales are estimated to grow 33.60% in year-over-year returns.
Micron Technology Inc. (MU) Top Institutional Holders
1,662 institutions hold shares in Micron Technology Inc. (MU), with 1.94M shares held by insiders accounting for 0.17% while institutional investors hold 85.82% of the company’s shares. The shares outstanding are 1.12B, and float is at 1.12B with Short Float at 1.72%. Institutions hold 85.68% 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 7.81% 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 7.30% of the shares outstanding. The other top investors are Primecap Management Company which holds 48.55 million shares representing 4.33% and valued at over $3.65 billion, while State Street Corporation holds 4.12% of the shares totaling 46.25 million with a market value of $3.48 billion.
Micron Technology Inc. (MU) Insider Activity
A total of 125 insider transactions have happened at Micron Technology Inc. (MU) in the last six months, with sales accounting for 71 and purchases happening 54 times. The most recent transaction is an insider sale by Deboer Scott J ,the company’sEVP, Technology & Products. SEC filings show that Deboer Scott J sold 25,089 shares of the company’s common stock on Apr 05 at a price of $93.31 per share for a total of $2.34 million. Following the sale, the insider now owns 0.14 million shares.
Micron Technology Inc. disclosed in a document filed with the SEC on Mar 25 that ARNZEN APRIL S (SVP, Chief People Officer) sold a total of 8,300 shares of the company’s common stock. The trade occurred on Mar 25 and was made at $80.95 per share for $0.67 million. Following the transaction, the insider now directly holds 81087.0 shares of the MU stock.
Still, SEC filings show that on Mar 15, Zinsner David (SVP & Chief Financial Officer) disposed off 8,050 shares at an average price of $87.52 for $0.7 million. The insider now directly holds 124,924 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 245.45% up over the past 12 months. Intel Corporation (INTC) is 13.38% up on the 1-year trading charts. Short interest in the company’s stock has fallen -0.47% from the last report on Mar 14, 2021 to stand at a total of 19.24 million short shares sold with a short interest ratio of 0.91.