Micron Technology, Inc. (NASDAQ:MU) traded at $86.07 at close of the session on Monday, May 03, made a downturn move of -2.26% on its previous day’s price.
Looking at the stock we see that its previous close was $88.06 and the beta (5Y monthly) reads 1.25 with the day’s price range being $85.56 – 88.47. The company has a trailing 12-month PE ratio of 30.53. In terms of its 52-week price range, MU has a high of $96.96 and a low of $42.25. The company’s stock has gained about -2.43% over that past 30 days.
Micron Technology, Inc. has a market cap of $98.75 Billion and is expected to release its quarterly earnings report on June 30, 2021. With its Forward Dividend at 0 and a yield of 0%, the company’s investors could be worried for the MU stock to lose ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.63, with the EPS growth for the year raised at $5.48 for 2021 and $10.7 for next year. These figures represent 0.94% and 0.95% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $7.1 Billion, with a low of $6.87 Billion and a high of $7.24 Billion. The median projection represents growth adding up to 33.6% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2021 is expected to hit $26.9 Billion, or +25.5% up from figures reported last year.
On the other hand, looking at the outlook for the MU stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 31 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 5 have rated the Micron Technology, Inc. (MU) stock as a Hold, while 26 rate it as a Buy. None analyst(s) rate it as outperform while none of them rated it as underperform, whereas none suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note that the PEG ratio for the MU stock currently stands at 0.5, and the current price level is -4.95% off its SMA20 and -3.74% from its 50-day simple moving average. The RSI (14) is pointing at 44.8 while the volatility over the past week is 2.84% and jumps to 3.15% over the past one month. The beta value is 1.25, while the average true range (ATR) is currently pointing at 3.16. The average price target for the stock over the next 12 months is $119.32, with the estimates having a low of $90 and a high of $165. These price ends are 4.57% and +91.7% off the current price level respectively, although investors could be excited at the prospect of a +36.52% if the MU share price touches on the median price of $117.5.
Coming back to Micron Technology, Inc. (NASDAQ:MU), we note that the average 3-month trading volume was 20.64 Million, while that of the preceding 10-day period stands at 25.17 Million. Current shares outstanding are 1.12 Billion.
According to data from Thomson Reuters, insiders hold 0.17% of the company’s shares while institutions hold 85.96%. The data shows that short shares as of April 14, 2021, stood at 31.78 Million at a short ratio of 1.41. This represents a 2.83% short interest in shares outstanding on April 14, 2021. Shares short rose in April from the previous month at 19.24 Million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock +14.49% up in year-to-date price movement.