During the recent session, Micron Technology Inc. (NASDAQ:MU)’s traded shares were 3.95 million, with the beta value of the company hitting 1.28. At the last check today, the stock’s price was $56.41, reflecting an intraday gain of 0.12% or $0.07. The 52-week high for the MU share is $98.45, that puts it down -74.53 from that peak though still a striking 4.98% gain since the share price plummeted to a 52-week low of $53.60. The company’s market capitalization is $62.08B, and the average intraday trading volume over the past 10 days was 19.5 million shares, and the average trade volume was 20.61 million shares over the past three months.
Micron Technology Inc. (MU) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.90. MU has a Sell rating from 1 analyst(s) out of 36 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 4 suggest Overweight, and 28 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.46.
Micron Technology Inc. (NASDAQ:MU) trade information
Micron Technology Inc. (MU) registered a 0.12% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.12% in intraday trading to $56.41 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -4.02%, and it has moved by -18.23% in 30 days. Based on these gigs, the overall price performance for the year is -27.45%. The short interest in Micron Technology Inc. (NASDAQ:MU) is 25.78 million shares and it means that shorts have 1.07 day(s) to cover.
The consensus price target of analysts on Wall Street is $104.06, which implies an increase of 45.79% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $56.00 and $165.00 respectively. As a result, MU is trading at a discount of -192.5% off the target high and 0.73% off the low.
Micron Technology Inc. (MU) estimates and forecasts
Statistics show that Micron Technology Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Micron Technology Inc. (MU) shares have gone down -31.32% during the last six months, with a year-to-date growth rate less than the industry average at 57.43% against 57.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 30.90% this quarter and then jump 15.70% in the quarter after that. In the rating firms’ projections, revenue will increase 21.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $8.7 billion as predicted by 25 analyst(s). Meanwhile, a consensus of 25 analyst(s) estimates revenue growth to $9.48 billion by the end of Aug 2022.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 84.30%. While earnings are projected to return 116.20% in 2022, the next five years will return 29.65% per annum.
Micron Technology Inc. is due to release its next quarterly earnings between March 29 and April 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Micron Technology Inc. is 0.40, with the dividend yield indicating at 0.71 percent, continuing the trend of increasing dividends in recent years.
Micron Technology Inc. (NASDAQ:MU)’s Major holders
Micron Technology Inc. insiders own 0.26% of total outstanding shares while institutional holders control 82.32%, with the float percentage being 82.54%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,988 institutions own stock in it. As of Dec 30, 2021, the company held over 89.47 million shares (or 8.01% of all shares), a total value of $8.33 billion in shares.
The next largest institutional holding, with 87.12 million shares, is of Blackrock Inc.’s that is approximately 7.80% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $6.79 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Micron Technology Inc. (MU) shares are Vanguard Total Stock Market Index Fund and Vanguard/Primecap Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 31.79 million shares. This amounts to just over 2.85 percent of the company’s overall shares, with a $2.96 billion market value. The same data shows that the other fund manager holds slightly less at 24.54 million, or about 2.20% of the stock, which is worth about $2.29 billion.