Considering Micron Technology Inc. (MU) as a potential investment: What Should You Do?

After closing at $50.10 in the most recent trading day, Micron Technology Inc. (NASDAQ: MU) closed at 49.66, down -0.88%. In other words, the price has decreased by $-0.44 from its previous closing price. On the day, 21273566 shares were traded. MU reached its highest trading level at $50.37 during the session, while it also had its lowest trading level at $49.35.

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Our goal is to gain a better understanding of MU by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.34 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 12.18. For the most recent quarter (mrq), Quick Ratio is recorded 2.40 and its Current Ratio is at 3.20. In the meantime, Its Debt-to-Equity ratio is 0.14 whereas as Long-Term Debt/Eq ratio is at 0.14.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Stifel on September 21, 2022, initiated with a Hold rating and assigned the stock a target price of $56.

On September 21, 2022, Mizuho Downgraded its rating to Neutral which previously was Buy and also lowered its target price recommendation from $75 to $56.

On September 13, 2022, Exane BNP Paribas started tracking the stock assigning a Outperform rating and target price of $75.Exane BNP Paribas initiated its Outperform rating on September 13, 2022, with a $75 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Aug 16 when Bokan Michael W sold 16,600 shares for $63.82 per share. The transaction valued at 1,059,450 led to the insider holds 119,126 shares of the business.

ARNZEN APRIL S sold 5,600 shares of MU for $425,600 on Mar 24. The SVP, Chief People Officer now owns 89,172 shares after completing the transaction at $76.00 per share. On Feb 16, another insider, Beard Robert P, who serves as the SVP, General Counsel&Secretary of the company, sold 266 shares for $96.17 each. As a result, the insider received 25,581 and left with 10,688 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, MU now has a Market Capitalization of 55.27B and an Enterprise Value of 52.63B. As of this moment, Micron’s Price-to-Earnings (P/E) ratio for their current fiscal year is 5.66, and their Forward P/E ratio for the next fiscal year is 13.13. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 11.80. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.69 while its Price-to-Book (P/B) ratio in mrq is 1.12. Its current Enterprise Value per Revenue stands at 1.63 whereas that against EBITDA is 2.92.

Stock Price History:

The Beta on a monthly basis for MU is 1.30, which has changed by -32.94% over the last 52 weeks, in comparison to a change of -15.65% over the same period for the S&P500. Over the past 52 weeks, MU has reached a high of $98.45, while it has fallen to a 52-week low of $49.72. The 50-Day Moving Average of the stock is 59.00, while the 200-Day Moving Average is calculated to be 72.49.

Shares Statistics:

The stock has traded on average 16.82M shares per day over the past 3-months and 19.85M shares per day over the last 10 days, according to various share statistics. A total of 1.11B shares are outstanding, with a floating share count of 1.10B. Insiders hold about 0.27% of the company’s shares, while institutions hold 82.50% stake in the company. Shares short for MU as of Aug 30, 2022 were 31.97M with a Short Ratio of 1.90, compared to 35.05M on Jul 28, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.90% and a Short% of Float of 2.90%.

Dividends & Splits

In the trailing 12 months, MU’s forward annual dividend rate was 0.41, compared to 0.46 this year. Against a Trailing Annual Dividend Yield of 0.83%, it implies a Forward Annual Dividend Yield of 0.92%. The current Payout Ratio is 3.40% for MU, which recently paid a dividend on Jul 25, 2022 with an ex-dividend date of Jul 07, 2022. Stock splits for the company last occurred on May 01, 2000 when the company split stock in a 2:1 ratio.

Earnings Estimates

Its stock is currently analyzed by 23 different market analysts. On average, analysts expect EPS of $1.3 for the current quarter, with a high estimate of $1.5 and a low estimate of $0.44, while EPS last year was $2.42. The consensus estimate for the next quarter is $0.73, with high estimates of $1.24 and low estimates of $-0.1.

Analysts are recommending an EPS of between $8.39 and $7.35 for the fiscal current year, implying an average EPS of $8.18. EPS for the following year is $3.46, with 25 analysts recommending between $6.35 and $-0.9.

Revenue Estimates

22 analysts predict $6.69B in revenue for the current quarter. It ranges from a high estimate of $6.85B to a low estimate of $6B. As of the current estimate, Micron Technology Inc.’s year-ago sales were $8.27B, an estimated decrease of -19.10% from the year-ago figure.

A total of 26 analysts have provided revenue estimates for MU’s current fiscal year. The highest revenue estimate was $31.06B, while the lowest revenue estimate was $30.11B, resulting in an average revenue estimate of $30.81B. In the same quarter a year ago, actual revenue was $27.7B, up 11.20% from the average estimate. Based on 27 analysts’ estimates, the company’s revenue will be $24.53B in the next fiscal year. The high estimate is $28.43B and the low estimate is $19.88B. The average revenue growth estimate for next year is down -20.40% from the average revenue estimate for this year.