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Micron Technology Inc. (NASDAQ: MU) Has Gained 39.28% YTD: Is There Trouble Ahead?

During the last session, Micron Technology Inc. (NASDAQ:MU)’s traded shares were 28.99 million, with the beta value of the company hitting 1.38. At the end of the trading day, the stock’s price was $69.61, reflecting an intraday gain of 4.63% or $3.08. The 52-week high for the MU share is $75.41, that puts it down -8.33 from that peak though still a striking 30.43% gain since the share price plummeted to a 52-week low of $48.43. The company’s market capitalization is $75.51B, and the average intraday trading volume over the past 10 days was 21.13 million shares, and the average trade volume was 17.62 million shares over the past three months.

Micron Technology Inc. (MU) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. MU has a Sell rating from 2 analyst(s) out of 36 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 5 suggest Overweight, and 20 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.55.

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Micron Technology Inc. (NASDAQ:MU) trade information

Micron Technology Inc. (MU) registered a 4.63% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.63% in intraday trading to $69.61 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 3.02%, and it has moved by 14.08% in 30 days. Based on these gigs, the overall price performance for the year is 4.49%. The short interest in Micron Technology Inc. (NASDAQ:MU) is 25.92 million shares and it means that shorts have 1.23 day(s) to cover.

The consensus price target of analysts on Wall Street is $70.49, which implies an increase of 1.25% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $45.00 and $100.00 respectively. As a result, MU is trading at a discount of -43.66% off the target high and 35.35% off the low.

Micron Technology Inc. (MU) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -159.80% this quarter and then drop -171.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -49.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $3.69 billion as predicted by 23 analyst(s). Meanwhile, a consensus of 23 analyst(s) estimates revenue growth to $4.02 billion by the end of Aug 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $8.64 billion and $6.64 billion respectively. In this case, analysts expect current quarter sales to shrink by -57.30% and then drop by -39.40% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 11.90%. While earnings are projected to return 50.70% in 2023.

MU Dividends

Micron Technology Inc. is due to release its next quarterly earnings between June 28 and July 03. 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 0.46, with the dividend yield indicating at 0.66 percent, continuing the trend of increasing dividends in recent years.

Micron Technology Inc. (NASDAQ:MU)’s Major holders

On Key

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