In last trading session, Micron Technology, Inc. (NASDAQ:MU) saw 6,348,624 shares changing hands with its beta currently measuring 1.3. Company’s recent per share price level of $51.51 trading at -$0.12 or -0.23% at ring of the bell on the day assigns it a market valuation of $57.34 Billion. That closing price of MU’s stock is at a discount of -18.79% from its 52-week high price of $61.19 and is indicating a premium of 39.57% from its 52-week low price of $31.13. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 16.06 Million shares which gives us an average trading volume of 19.22 Million if we extend that period to 3-months.
For Micron Technology, Inc. (MU), analysts’ consensus is at an average recommendation of Overweight while assigning it a mean rating of 2.1. Splitting up the data highlights that, out of 34 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 6 suggested the stock as a Hold whereas 26 see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.47 in the current quarter.
Micron Technology, Inc. (NASDAQ:MU) trade information
In the face of being in the red today for losing -0.23%, in the last five days MU remained trading in the green while hitting it’s week-highest on Tuesday, Oct 13 when the stock touched $52.75- price level, adding 2.53% to its value on the day. Micron Technology, Inc.’s shares saw a change of -4.4% in year-to-date performance and have moved 3.04% in past 5-day. Micron Technology, Inc. (NASDAQ:MU) showed a performance of 4.82% in past 30-days. Number of shares sold short was 28.16 Million shares which calculate 1.47 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $62.86 to the stock, which implies a rise of 22.03% to its current value. Analysts have been projecting $35 as a low price target for the stock while placing it at a high target of $100. It follows that stock’s current price would jump +94.14% in reaching the projected high whereas dropping to the targeted low would mean a loss of -32.05% for stock’s current value.
Micron Technology, Inc. (MU) estimates and forecasts
Statistics highlight that Micron Technology, Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added +13.4% of value to its shares in past 6 months, showing an annual growth rate of -2.47% while that of industry is -4.1. Apart from that, the company came lowering its revenue forecast for fiscal year 2020. The company is estimating its revenue growth to decline by -2.1% in the current quarter and calculating -2.2% decline in the next quarter. This year revenue growth is estimated to rise 6.6% from the last financial year’s standing.
29 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $5.24 Billion for the same. And 29 analysts are in estimates of company making revenue of $5.17 Billion in the next quarter that will end in February 01, 2021. Company posted $5.14 Billion and $4.8 Billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 1.9% while estimating it to be 7.7% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 16.8% during past 5 years. In 2020, company’s earnings growth rate is likely to be around -51.5% while estimates for its earnings growth in next 5 years are of 4.91%
Micron Technology, Inc. (NASDAQ:MU)’s Major holders
Insiders are in possession of 0.24% of company’s total shares while institution are holding 82.31% percent of that, with stock having share float percentage of 82.5%. Investors also watch the number of corporate investors in a company very closely, which is 1481 institutions for Micron Technology, Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at MU for having 90.19 Million shares of worth $4.65 Billion. And as of June 29, 2020, it was holding 8.12% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 81.92 Million shares on June 29, 2020. The number of shares represents firm’s hold over 7.37% of outstanding shares, having a total worth of $4.22 Billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard/Primecap Fund are the top two Mutual Funds which own company’s shares. As of June 29, 2020, the former fund manager was holding 31690276 shares of worth $1.63 Billion or 2.85% of the total outstanding shares. The later fund manager was in possession of 29.81 Million shares on June 29, 2020, making its stake of worth around $1.54 Billion in the company or a holder of 2.68% of company’s stock.