Micron Technology Inc. (NASDAQ: MU) is 16.97% higher on its value in year-to-date trading and has touched a low of $48.43 and a high of $96.50 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 $56.36 in the last trading session, with the day’s gains setting it 2.1% off its average median price target of $65.00 for the next 12 months. It is also 41.54% off the consensus price target high of $100.00 offered by 38 analysts, but current levels are -29.91% lower than the price target low of $45.00 for the same period.
Currently trading at $58.46, the stock is 8.98% and 5.48% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 13.79 million and changing 3.73% at the moment leaves the stock -2.29% off its SMA200. MU registered -35.04% loss for a year compared to 6-month loss of -8.14%.
The stock witnessed a 13.03% gain in the last 1 month and extending the period to 3 months gives it a 10.24%, and is 2.08% 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 2.92% over the week and 3.15% over the month.
Micron Technology Inc. (MU) has around 48000 employees, a market worth around $61.50B and $27.16B in sales. Current P/E ratio is 10.60 and Fwd P/E is 31.20. Profit margin for the company is 22.80%. Distance from 52-week low is 20.71% and -39.42% from its 52-week high. The company has generated returns on investments over the last 12 months (15.40%).
Micron Technology Inc. (MU) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Micron Technology Inc. (MU) is a “Overweight”. 38 analysts offering their recommendations for the stock have an average rating of 2.30, where 9 rate it as a Hold and 5 think it is a “Overweight”. 22 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 03/23/2023.The EPS is expected to grow by 50.70% this year.
Micron Technology Inc. (MU) Top Institutional Holders
The shares outstanding are 1.09B, and float is at 1.09B with Short Float at 2.30%.
Micron Technology Inc. (MU) Insider Activity
A total of 102 insider transactions have happened at Micron Technology Inc. (MU) in the last six months, with sales accounting for 52 and purchases happening 50 times. The most recent transaction is an insider sale by Bokan Michael W,the company’sSVP, 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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