Micron Technology Inc (NASDAQ:MU) price on Thursday, February 06, rose 1.00% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $94.54.
A look at the stock’s price movement, the close in the last trading session was $93.60, moving within a range at $93.58 and $96.6088. The beta value (5-Year monthly) was 1.179 while the PE ratio in trailing twelve months stood at 27.30. Turning to its 52-week performance, $157.54 and $79.15 were the 52-week high and 52-week low respectively. Overall, MU moved -4.76% over the past month.
Micron Technology Inc’s market cap currently stands at around $105.33 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 0.46, with its dividend yield at 0.49%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 7.93B for the company’s revenue for the quarter, with a low and high estimate of 7.84B and 8.41B respectively. The average forecast suggests up to a 36.23% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 35.09B, representing a 39.73% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MU is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
32 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 27 recommend MU as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MU’s current price about -3.04% and -2.85% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.17, while 7-day volatility ratio is 3.46% and 3.94% in the 30-day chart. Further, Micron Technology Inc (MU) has a beta value of 1.23, and an average true range (ATR) of 4.49. Analysts have given the company’s stock an average 52-week price target of $127.5, forecast between a low of $57 and high of $165. Looking at the price targets, the low is 39.71% off current price level while to achieve the yearly target high, price needs to move -74.53%. Nonetheless, investors will most likely welcome a -34.86% jump to $127.5 which is the analysts’ median price.
If we refocus on Micron Technology Inc (NASDAQ:MU), historical trading data shows that trading volumes averaged 24.34 over the past 10 days and 23.51 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.11 billion shares.
The 0.41% of Micron Technology Inc’s shares are in the hands of company insiders while institutional holders own 77.71% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 33.9 million on 2024-11-29, giving us a short ratio of 2.09. The data shows that as of 2024-11-29 short interest in Micron Technology Inc (MU) stood at 305.0 of shares outstanding, with shares short falling to 35.56 million registered in 2024-10-31. Current price change has pushed the stock 12.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MU stock continues to rise going into the next quarter.
