In recent trading session, Micron Technology Inc. (NASDAQ:MU) saw 9.45 million shares changing hands at last check today with its beta currently measuring 1.20. Company’s recent per share price level of $105.90 trading at $5.49 or 5.47% at last check today assigns it a market valuation of $117.43B. That most recent trading price of MU’s stock is at a discount of -48.76% from its 52-week high price of $157.54 and is indicating a premium of 41.69% from its 52-week low price of $61.75. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 27.19 million shares which gives us an average trading volume of 23.77 million if we extend that period to 3-months.
For Micron Technology Inc. (MU), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.41. Splitting up the data highlights that, out of 32 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 5 suggested the stock as a Hold whereas 27 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 1.14 in the current quarter.
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Micron Technology Inc. (NASDAQ:MU) trade information
Upright in the green today for gaining 5.47%, in the last five days MU remained trading in the green while hitting it’s week-highest on Thursday, 08/15/24 when the stock touched $105.90 price level, subtracting -0.14% to its value on the day. Micron Technology Inc.’s shares saw a change of 24.09% in year-to-date performance and have moved 15.02% in past 5-day. Micron Technology Inc. (NASDAQ:MU) showed a performance of -11.38% in past 30-days. Number of shares sold short was 23.17 million shares which calculate 1.02 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 150 to the stock, which implies a rise of 29.4% to its recent value today. Analysts have been projecting 55 as a low price target for the stock while placing it at a high target of 225. It follows that stock’s current price would jump 48.06% in reaching the projected high whereas dropping to the targeted low would mean a gain of 48.06% for stock’s current value.
Micron Technology Inc. (MU) estimates and forecasts
Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 61.30% 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 7.66B for the same. And 23 analysts are in estimates of company making revenue of 8.62B in the next quarter.
In 2024, company’s earnings growth rate is likely to be around 127.74% while estimates for its earnings growth in next 5 years are of -2.62%.
MU Dividends
Micron Technology Inc. is more likely to be releasing its next quarterly report on 2024-Sep-25 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. With an annual yield of 0.43%, the share has a forward dividend of 0.46 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 0.33%.
Micron Technology Inc. (NASDAQ:MU)’s Major holders
Insiders are in possession of 0.26% of company’s total shares while institution are holding 82.78 percent of that, with stock having share float percentage of 82.99%. Investors also watch the number of corporate investors in a company very closely, which is 82.78% 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 96.67 million shares of worth $11.4 billion. And as of 2024-03-31, it was holding 8.756 of the company’s outstanding shares.
The second largest institutional holder is BLACKROCK INC., which was holding about 90.3 million shares on 2024-03-31. The number of shares represents firm’s hold over 8.1797 of outstanding shares, having a total worth of $10.65 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 Mar 31, 2024, the former fund manager was holding 34.71 shares of worth $3.68 billion or 3.13% of the total outstanding shares. The later fund manager was in possession of 27.82 shares on Mar 31, 2024, making its stake of worth around $2.95 billion in the company or a holder of 2.51% of company’s stock.
