In the latest trading session,, 21.24 million Micron Technology Inc. (NASDAQ:MU) shares changed hands as the company’s beta touched 1.26. With the company’s most recent per share price at $120.23 changing hands around $3.1 or 2.65% at last look, the market valuation stands at $133.14B. MU’s current price is a discount, trading about -0.98% off its 52-week high of $121.41. The share price had its 52-week low at $56.01, which suggests the last value was 53.41% up since then. When we look at Micron Technology Inc.’s average trading volume, we note the 10-day average is 34.44 million shares, with the 3-month average coming to 17.75 million.
Micron Technology Inc. (NASDAQ:MU) trade information
Instantly MU is in green as seen in intraday trades today. With action 27.90%, the performance over the past five days has been green. The jump to weekly highs of 122.46 added 2.65% to the stock’s daily price. The company’s shares are showing year-to-date upside of 40.88%, with the 5-day performance at 27.90% in the green. However, in the 30-day time frame, Micron Technology Inc. (NASDAQ:MU) is 34.39% up. Looking at the short shares, we see there were 22.11 million shares sold at short interest cover period of 1.57 days.
Micron Technology Inc. (MU) estimates and forecasts
Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Micron Technology Inc. will rise 130.10%, while the growth in revenue is estimated to hit 174.80% for the next quarter. Year-over-year growth is forecast to reach 44.90% up from the last financial year.
Consensus estimates given by 23 financial analysts project the company’s revenue in the current quarter to hit an average of $6.12 billion. 23 analysts are of the opinion that Micron Technology Inc.’s revenue for the quarter ending Aug 2024 will be $6.85 billion. The estimates for the next quarter sales put growth at 70.90%.
The 2024 estimates are for Micron Technology Inc. earnings to increase by 114.81%, but the outlook for the next 5-year period is at -2.62% per year.
MU Dividends
Micron Technology Inc. is expected to release its next quarterly earnings report between June 26 and July 01. The 0.38% annual yield figure for the share gives it an annual dividend of 0.46. It is important to note, however, that the 0.38% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Micron Technology Inc. (NASDAQ:MU)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.29% of Micron Technology Inc. shares while 84.97% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 85.21%. There are 84.97% institutions holding the Micron Technology Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.55% of the shares, roughly 93.92 million MU shares worth $5.93 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.85% or 86.2 million shares worth $5.44 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 34.14 million shares estimated at $2.15 billion under it, the former controlled 3.11% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.37% of the shares, roughly 26.06 million shares worth around $1.64 billion.
