In recent trading session, Micron Technology Inc. (NASDAQ:MU) saw 2.64 million shares changing hands at last check today with its beta currently measuring 1.32. Company’s recent per share price level of $77.44 trading at $0.77 or 1.00% at last check today assigns it a market valuation of $85.03B. That most recent trading price of MU’s stock is at a discount of -0.08% from its 52-week high price of $77.50 and is indicating a premium of 37.46% from its 52-week low price of $48.43. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 12.25 million shares which gives us an average trading volume of 12.96 million if we extend that period to 3-months.
For Micron Technology Inc. (MU), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 1.77. Splitting up the data highlights that, out of 39 analysts covering the stock, 2 rated the stock as a Sell while 5 recommended an Overweight rating for the stock. 7 suggested the stock as a Hold whereas 24 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.92 in the current quarter.
Micron Technology Inc. (NASDAQ:MU) trade information
Upright in the green today for gaining 1.00%, in the last five days MU remained trading in the green while hitting it’s week-highest on Friday, 11/17/23 when the stock touched $77.44 price level, adding 0.64% to its value on the day. Micron Technology Inc.’s shares saw a change of 54.94% in year-to-date performance and have moved 2.76% in past 5-day. Micron Technology Inc. (NASDAQ:MU) showed a performance of 14.67% in past 30-days. Number of shares sold short was 19.64 million shares which calculate 1.67 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $81.11 to the stock, which implies a rise of 4.52% to its recent value today. Analysts have been projecting $58.50 as a low price target for the stock while placing it at a high target of $100.00. It follows that stock’s current price would drop -29.13% in reaching the projected high whereas dropping to the targeted low would mean a gain of 24.46% 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 13.60% of value to its shares in past 6 months, showing an annual growth rate of 56.63% while that of industry is 49.30. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -2,200.00% in the current quarter and calculating 62.80% increase in the next quarter. This year revenue growth is estimated to rise 35.40% from the last financial year’s standing.
25 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $4.11 billion for the same. And 25 analysts are in estimates of company making revenue of $4.41 billion in the next quarter that will end on Feb 2024.
In 2023, company’s earnings growth rate is likely to be around 64.38% while estimates for its earnings growth in next 5 years are of -2.62%.
Micron Technology Inc. is more likely to be releasing its next quarterly report between December 19 and December 26 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Micron Technology Inc. (NASDAQ:MU)’s Major holders
Insiders are in possession of 0.28% of company’s total shares while institution are holding 84.70 percent of that, with stock having share float percentage of 84.94%. Investors also watch the number of corporate investors in a company very closely, which is 84.70% institutions for Micron Technology Inc. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at MU for having 93.92 million shares of worth $5.93 billion. And as of Jun 29, 2023, it was holding 8.55% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 86.2 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.85% of outstanding shares, having a total worth of $5.44 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 34.14 million shares of worth $2.15 billion or 3.11% of the total outstanding shares. The later fund manager was in possession of 26.06 million shares on Jun 29, 2023, making its stake of worth around $1.64 billion in the company or a holder of 2.37% of company’s stock.