Micron Technology Inc (NASDAQ:MU) shares, rose in value, with the stock price up by 3.96% to the previous day’s close as strong demand from buyers drove the stock to $99.45.
Actively observing the price movement in the recent trading, the stock is buoying the session at $95.66, falling within a range of $98.0 and $100.6983. The value of beta (5-year monthly) is 1.179 whereas the PE ratio is 28.72 over 12-month period. Referring to stock’s 52-week performance, its high was $157.54, and the low was $79.15. On the whole, MU has fluctuated by -3.62% over the past month.
With the market capitalization of Micron Technology Inc currently standing at about $110.80 billion, investors are eagerly awaiting this quarter’s results, scheduled for in March. The company’s Forward Dividend Ratio is 0.46, with its dividend yield at 0.46%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 35.03B, with a low estimate of 7.8B and a high estimate of 8.41B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 7.93B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. 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 50% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.27, with the price of MU currently trading nearly 3.47% and 2.92% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.26, while the 7-day volatility ratio is showing 4.19% which for the 30-day chart, stands at 3.97%. Furthermore, Micron Technology Inc (MU)’s beta value is 1.24, and its average true range (ATR) is 4.50.
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 3.96% in today’s session so far, and over the past year, it grew by 21.98%%.
Data on historical trading for Micron Technology Inc (NASDAQ:MU) indicates that the trading volumes over the past 10 days have averaged 16.72 and over the past 3 months, they’ve averaged 23.47 million. According to company’s latest data on outstanding shares, there are 1.11 billion shares outstanding.
Nearly 0.41% of Micron Technology Inc’s shares belong to company insiders and institutional investors own 78.07% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 33.9 million shares as on 2024-11-29, resulting in a short ratio of 2.09. According to the data, the short interest in Micron Technology Inc (MU) stood at 305.00 of shares outstanding as of 2024-11-29; the number of short shares registered in 2024-10-31 reached 35.56 million. The stock has risen by 18.17% 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.
