Micron Technology Inc. (NASDAQ: MU): Stock Performance & Trend Analysis

In the last trading session, 20.72 million shares of the Micron Technology Inc. (NASDAQ:MU) were traded, and its beta was 1.27. Most recently the company’s share price was $117.89, and it changed around -$1.36 or -1.14% from the last close, which brings the market valuation of the company to $130.55B. MU currently trades at a discount to its 52-week high of $122.46, offering almost -3.88% off that amount. The share price’s 52-week low was $56.01, which indicates that the current value has risen by an impressive 52.49% since then. We note from Micron Technology Inc.’s average daily trading volume that its 10-day average is 39.08 million shares, with the 3-month average coming to 18.61 million.

Micron Technology Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.58. If we narrow it down even further, the data shows that 1 out of 36 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 7 recommended MU as a Hold, whereas 21 deemed it a Buy, and 0 rated it as Underweight. Micron Technology Inc. is expected to report earnings per share of $0.44 for the current quarter.

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Micron Technology Inc. (NASDAQ:MU) trade information

Instantly MU has showed a red trend with a performance of -1.14% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 38.14% year-to-date, but still up 7.32% over the last five days. On the other hand, Micron Technology Inc. (NASDAQ:MU) is 31.41% up in the 30-day period. We can see from the shorts that 20.75 million shares have been sold at a short interest cover period of 1.17 day(s).

The consensus price target as assigned by Wall Street analysts is $104.21, which translates to bulls needing to decrease their stock price by -13.13% from its current value. Analyst projections state that MU is forecast to be at a low of $55 and a high of $225.

Micron Technology Inc. (MU) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 130.80% in revenue this quarter, and will report an increase of 175.70% in the next quarter. The year-over-year growth rate is expected to be 46.00%, up from the previous year.

Consensus estimates provided by 24 financial analysts predict the company will bring in an average of $6.12 billion in revenue for the current quarter. 24 analysts expect Micron Technology Inc. to make $6.85 billion in revenue for the quarter ending Aug 2024. Forecasts for the next quarter put sales growth at 70.80%.

Micron Technology Inc. earnings are expected to increase by 115.78% in 2024, but the outlook is negative -2.62% per year for the next five years.

MU Dividends

Micron Technology Inc.’s next quarterly earnings report is expected to be released around June 26 and July 01. The annual dividend yield of the stock is 0.49 percent and its annual dividend per share was 0.57. It is important to note, however, that the 0.49% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.29% of Micron Technology Inc. shares, and 84.99% of them are in the hands of institutional investors. The stock currently has a share float of 85.23%. Micron Technology Inc. stock is held by 2,056 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.58% of the shares, which is about 94.98 million shares worth $11.2 billion.

Blackrock Inc., with 7.67% or 84.99 million shares worth $10.02 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 34.47 million shares worth $4.06 billion, making up 3.11% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 26.83 million shares worth around $3.16 billion, which represents about 2.42% of the total shares outstanding.