In the latest session, Micron Technology Inc. (NASDAQ: MU) closed at $91.43 down -2.90% from its previous closing price of $94.16. In other words, the price has decreased by -$2.73 from its previous closing price. On the day, 16676770 shares were traded. MU stock price reached its highest trading level at $93.45 during the session, while it also had its lowest trading level at $90.30.
Ratios:
For a deeper understanding of Micron Technology Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.14 and its Current Ratio is at 3.53. In the meantime, Its Debt-to-Equity ratio is 0.33 whereas as Long-Term Debt/Eq ratio is at 0.31.
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 the company, Stifel on March 07, 2024, Upgraded its rating to Buy and sets its target price to $120 from $80 previously.
On January 23, 2024, Cantor Fitzgerald started tracking the stock assigning a Overweight rating and target price of $100.
Piper Sandler Upgraded its Neutral to Overweight on January 04, 2024, whereas the target price for the stock was revised from $70 to $95.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Mar 12 ’24 when MEHROTRA SANJAY sold 7,000 shares for $95.64 per share. The transaction valued at 669,449 led to the insider holds 773,557 shares of the business.
MEHROTRA SANJAY sold 45,000 shares of MU for $4,500,000 on Mar 08 ’24. The CEO and President now owns 773,557 shares after completing the transaction at $100.00 per share. On Mar 05 ’24, another insider, MEHROTRA SANJAY, who serves as the CEO and President of the company, sold 7,000 shares for $94.26 each. As a result, the insider received 659,805 and left with 788,557 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 100.96B and an Enterprise Value of 106.02B. For the stock, the TTM Price-to-Sale (P/S) ratio is 6.24 while its Price-to-Book (P/B) ratio in mrq is 2.35. Its current Enterprise Value per Revenue stands at 6.55 whereas that against EBITDA is 67.02.
Stock Price History:
Over the past 52 weeks, MU has reached a high of $101.85, while it has fallen to a 52-week low of $52.88. The 50-Day Moving Average of the stock is 87.37, while the 200-Day Moving Average is calculated to be 74.47.
Shares Statistics:
For the past three months, MU has traded an average of 15.69M shares per day and 18.28M over the past ten days. A total of 1.10B shares are outstanding, with a floating share count of 1.10B. Insiders hold about 0.67% of the company’s shares, while institutions hold 82.36% stake in the company. Shares short for MU as of Feb 29, 2024 were 22.11M with a Short Ratio of 1.41, compared to 22.1M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 2.00% and a Short% of Float of 2.01%.
Dividends & Splits
According to the company, the forward annual dividend rate for MU is 0.46, from 0.46 in the trailing year. Against a Trailing Annual Dividend Yield of 0.49%, it implies a Forward Annual Dividend Yield of 0.50%. The stock’s 5-year Average Dividend Yield is 0.33.
Earnings Estimates
There are 24 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.27 for the current quarter, with a high estimate of -$0.19 and a low estimate of -$0.31, while EPS last year was -$1.91. The consensus estimate for the next quarter is $0.17, with high estimates of $0.53 and low estimates of -$0.07.
Analysts are recommending an EPS of between $1.11 and -$1.29 for the fiscal current year, implying an average EPS of -$0.32. EPS for the following year is $6.79, with 27 analysts recommending between $14.1 and $1.4.
Revenue Estimates
A total of 32 analysts have provided revenue estimates for MU’s current fiscal year. The highest revenue estimate was $24.64B, while the lowest revenue estimate was $21.08B, resulting in an average revenue estimate of $22.76B. In the same quarter a year ago, actual revenue was $15.54B, up 46.40% from the average estimate. Based on 31 analysts’ estimates, the company’s revenue will be $32.25B in the next fiscal year. The high estimate is $43.03B and the low estimate is $25.15B. The average revenue growth estimate for next year is up 41.70% from the average revenue estimate for this year.
