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Before You Sell Micron Technology Inc. (NASDAQ: MU) Shares, Here’sWhat You Need To Know.

Micron Technology Inc. (NASDAQ:MU) shares, rose in value on Friday, May 13, with the stock price up by 5.21% to the previous day’s close as strong demand from buyers drove the stock to $71.24.

Actively observing the price movement in the recent trading, the stock is buoying the session at $67.71, falling within a range of $65.87 and $68.9011. The value of beta (5-year monthly) is 1.17 whereas the PE ratio is 8.52 over 12-month period. Referring to stock’s 52-week performance, its high was $98.45, and the low was $65.67. On the whole, MU has fluctuated by -5.91% over the past month.

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With the market capitalization of Micron Technology Inc. currently standing at about $76.62 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 29, 2022 – Apr 04, 2022. The company’s Forward Dividend Ratio is 0.40, with its dividend yield at 0.59%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.96, which is expected to increase to $2.48 for fiscal year $8.93 and then to about $11.51 by fiscal year 2023. Data indicates that the EPS growth is expected to be 47.40% in 2023, while the next year’s EPS growth is forecast to be 28.90%.

Analysts have estimated the company’s revenue for the quarter at $7.51 billion, with a low estimate of $7.26 billion and a high estimate of $7.64 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $32.22 billion, representing an increase of 16.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 21 upward and no downward review(s) in last seven days. We see that MU’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

36 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 4 analyst(s), 28 recommend it as a Buy and 4 called the MU stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.

The stock’s technical analysis shows that the PEG ratio is about 0.29, with the price of MU currently trading nearly 1.90% and -3.85% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.91, while the 7-day volatility ratio is showing 5.06% which for the 30-day chart, stands at 4.16%. Furthermore, Micron Technology Inc. (MU)’s beta value is 1.18, and its average true range (ATR) is 3.02.

A comparison of Micron Technology Inc. (MU) with its peers suggests the former has fared considerably weaker in the market. MU showed an intraday change of 5.21% in today’s session so far, and over the past year, it shrunk by -12.28%%. Additionally, there is a gain of 1.76% for Intel Corporation (INTC) in recent trading while the stock has seen an overall depriciation of -20.68%% over the past year. The PE ratio stands at 8.52 for Micron Technology Inc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 2.35%. Meanwhile, the Dow Jones Industrial Improved by 1.57%.

Data on historical trading for Micron Technology Inc. (NASDAQ:MU) indicates that the trading volumes over the past 3 months, they’ve averaged 22.93 million. According to company’s latest data on outstanding shares, there are 1.12 billion shares outstanding.

Nearly 0.10% of Micron Technology Inc.’s shares belong to company insiders and institutional investors own 82.50% of the company’s shares. The stock has fallen by -27.31% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MU stock heading into the next quarter.

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