Micron Technology Inc. (NASDAQ: MU) is -46.69% lower on its value in year-to-date trading and has touched a low of $49.72 and a high of $98.45 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MU stock was last observed hovering at around $50.10 in the last trading session, with the day’s loss setting it -0.44% off its average median price target of $73.00 for the next 12 months. It is also 54.85% off the consensus price target high of $110.00 offered by 37 analysts, but current levels are -10.36% lower than the price target low of $45.00 for the same period.
Currently trading at $49.66, the stock is -10.27% and -16.09% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 21.27 million and changing -0.88% at the moment leaves the stock -31.65% off its SMA200. MU registered -32.86% loss for a year compared to 6-month loss of -34.36%.
The stock witnessed a -14.17% gain in the last 1 month and extending the period to 3 months gives it a -11.67%, and is -5.75% down 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 2.87% over the week and 3.47% over the month.
Micron Technology Inc. (MU) has around 43000 employees, a market worth around $54.62B and $32.39B in sales. Current P/E ratio is 5.66 and Fwd P/E is 13.13. Profit margin for the company is 30.60%. Distance from 52-week low is -0.12% and -49.56% from its 52-week high. The company has generated returns on investments over the last 12 months (11.60%).
Micron Technology Inc. (MU) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Micron Technology Inc. (MU) is a “Overweight”. 37 analysts offering their recommendations for the stock have an average rating of 2.10, where 7 rate it as a Hold and 5 think it is a “Overweight”. 23 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Micron Technology Inc. is expected to release its quarterly report on 12/20/2022.The EPS is expected to grow by 116.20% this year
Micron Technology Inc. (MU) Top Institutional Holders
The shares outstanding are 1.11B, and float is at 1.10B with Short Float at 2.91%.
Micron Technology Inc. (MU) Insider Activity
A total of 7 insider transactions have happened at Micron Technology Inc. (MU) in the last six months, with sales accounting for 3 and purchases happening 4 times. The most recent transaction is an insider sale by Bokan Michael W, the company’s SVP, Worldwide Sales. SEC filings show that Bokan Michael W sold 16,600 shares of the company’s common stock on Aug 16 at a price of $63.82 per share for a total of $1.06 million. Following the sale, the insider now owns 0.12 million shares.
Micron Technology Inc. disclosed in a document filed with the SEC on Mar 24 that ARNZEN APRIL S (SVP, Chief People Officer) sold a total of 5,600 shares of the company’s common stock. The trade occurred on Mar 24 and was made at $76.00 per share for $0.43 million. Following the transaction, the insider now directly holds 89172.0 shares of the MU stock.
Still, SEC filings show that on Feb 16, Beard Robert P (SVP, General Counsel&Secretary) disposed off 266 shares at an average price of $96.17 for $25581.0. The insider now directly holds 10,688 shares of Micron Technology Inc. (MU).
Micron Technology Inc. (MU): Who are the competitors?
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