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Micron Technology Inc. (MU) Stock Could Soon Reward Patient Investors

Micron Technology Inc. (NASDAQ: MU) is 43.84% higher on its value in year-to-date trading and has touched a low of $56.01 and a high of $127.38 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 $124.30 in the last trading session, with the day’s loss setting it -1.55%.

Currently trading at $122.75, the stock is 19.49% and 32.11% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 24.5 million and changing -1.25% at the moment leaves the stock 60.02% off its SMA200. MU registered 94.56% gain for a year compared to 6-month gain of 80.44%. The firm has a 50-day simple moving average (SMA 50) of $7.71 and a 200-day simple moving average (SMA200) of $34.79.

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The stock witnessed a 29.01% loss in the last 1 month and extending the period to 3 months gives it a 43.84%, and is 4.80% 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 3.50% over the week and 3.65% over the month.

Micron Technology Inc. (MU) has around 43000 employees, a market worth around $135.93B and $18.31B in sales. Fwd P/E is 16.29. Profit margin for the company is -20.57%. Distance from 52-week low is 119.16% and -3.63% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.51%).

Micron Technology Inc. quarterly earnings per share for the current quarter are estimated at $0.47 with sales reaching $6.61B over the same period.The EPS is expected to grow by 115.78% this year, but quarterly earnings will post 57.70% year-over-year.

Micron Technology Inc. (MU) Top Institutional Holders

2,044 institutions hold shares in Micron Technology Inc. (MU), with institutional investors hold 85.19% of the company’s shares. The shares outstanding are 1.11B, and float is at 1.10B with Short Float at 1.89%. Institutions hold 84.95% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 93.92 million shares valued at $5.93 billion. The investor’s holdings represent 8.55% of the MU Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 86.2 million shares valued at $5.44 billion to account for 7.85% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 52.16 million shares representing 4.75% and valued at over $3.29 billion, while State Street Corporation holds 4.21% of the shares totaling 46.19 million with a market value of $2.92 billion.

Micron Technology Inc. (MU) Insider Activity

The most recent transaction is an insider sale by ARNZEN APRIL S,the company’sEVP, Chief People Officer. SEC filings show that ARNZEN APRIL S sold 4,890 shares of the company’s common stock on Mar 27 ’24 at a price of $119.30 per share for a total of $0.58 million. Following the sale, the insider now owns 0.15 million shares.

Micron Technology Inc. disclosed in a document filed with the SEC on Mar 26 ’24 that MEHROTRA SANJAY (CEO and President) sold a total of 7,000 shares of the company’s common stock. The trade occurred on Mar 26 ’24 and was made at $119.90 per share for $0.84 million. Following the transaction, the insider now directly holds 0.74 million shares of the MU stock.

Still, SEC filings show that on Mar 25 ’24, MEHROTRA SANJAY (CEO and President) disposed off 45,000 shares at an average price of $120.00 for $5.4 million. The insider now directly holds 743,557 shares of Micron Technology Inc. (MU).

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