In today’s recent session, 8.82 million shares of the Micron Technology Inc. (NASDAQ:MU) have been traded, and its beta is 1.24. Most recently the company’s share price was $92.48, and it changed around $3.48 or 3.91% from the last close, which brings the market valuation of the company to $102.55B. MU at last check was trading at a discount to its 52-week high of $157.54, offering almost -70.35% off that amount. The share price’s 52-week low was $61.75, which indicates that the recent value has risen by an impressive 33.23% since then. We note from Micron Technology Inc.’s average daily trading volume that its 10-day average is 26.78 million shares, with the 3-month average coming to 22.79 million.
Micron Technology Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.41. If we narrow it down even further, the data shows that 0 out of 31 analysts rate the stock as a Sell; another 8 rate it as Overweight. Among the rest, 3 recommended MU as a Hold, whereas 20 deemed it a Buy, and 0 rated it as Underweight. Micron Technology Inc. is expected to report earnings per share of 1.14 for the current quarter.
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Micron Technology Inc. (NASDAQ:MU) trade information
Instantly MU has been showing a green trend so far today with a performance of 3.91% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 107.86 on recent trading dayincreased the stock’s daily price by 14.26%. The company’s shares are currently up 8.37% year-to-date, but still down -15.79% over the last five days. On the other hand, Micron Technology Inc. (NASDAQ:MU) is -29.48% down in the 30-day period. We can see from the shorts that 24.05 million shares have been sold at a short interest cover period of 0.75 day(s).
The consensus price target as assigned by Wall Street analysts is $150, which translates to bulls needing to increase their stock price by 38.35% 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 206.50% in revenue this quarter, and will report an increase of 291.60% in the next quarter. The year-over-year growth rate is expected to be 61.30%, up from the previous year.
Consensus estimates provided by 25 financial analysts predict the company will bring in an average of 7.67B in revenue for the current quarter. 23 analysts expect Micron Technology Inc. to make 8.65B in revenue for the current ending quarter. Analysts predict that the company’s current quarter sales will jump, forecast at 91.40%.
Micron Technology Inc. earnings are expected to increase by 127.74% 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 on 2024-Sep-25. The annual dividend yield of the stock is 0.50 percent and its annual dividend per share was 0.46. It is important to note, however, that the 0.50% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 0.33 per year.
Micron Technology Inc. (NASDAQ:MU)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.26% of Micron Technology Inc. shares, and 84.46% of them are in the hands of institutional investors. The stock currently has a share float of 84.68%. Micron Technology Inc. stock is held by 2381.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-03-31, it held 8.756% of the shares, which is about 96.67 million shares worth $11.4 billion.
BLACKROCK INC., with 8.1797% or 90.3 million shares worth $10.65 billion as of 2024-03-31, 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 Mar 31, 2024. The former held 34.71 shares worth $3.16 billion, making up 3.13% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 27.82 shares worth around $2.53 billion, which represents about 2.51% of the total shares outstanding.
