In the last trading session, 14.76 million Micron Technology Inc. (NASDAQ:MU) shares changed hands as the company’s beta touched 1.18. With the company’s per share price at $109.08 changed hands at -$2.07 or -1.86% during last session, the market valuation stood at $120.94B. MU’s last price was a discount, traded about -44.43% off its 52-week high of $157.54. The share price had its 52-week low at $63.88, which suggests the last value was 41.44% up since then. When we look at Micron Technology Inc.’s average trading volume, we note the 10-day average is 20.1 million shares, with the 3-month average coming to 25.00 million.
Analysts gave the Micron Technology Inc. (MU) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.46. If we narrow down to specifics, the data shows that 0 out of 32 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended MU as a Hold, 27 felt it is a Buy and 0 rated the stock as Underweight. Micron Technology Inc.’s EPS for the current quarter is expected to be 1.75.
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Micron Technology Inc. (NASDAQ:MU) trade information
Instantly MU was in red as seen at the end of in last trading. With action 0.68%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 27.82%, with the 5-day performance at 0.68% in the green. However, in the 30-day time frame, Micron Technology Inc. (NASDAQ:MU) is 20.00% up. Looking at the short shares, we see there were 34.17 million shares sold at short interest cover period of 1.15 days.
The consensus price target for the stock as assigned by Wall Street analysts is 142.5, meaning bulls need an upside of 23.45% from its current market value. According to analyst projections, MU’s forecast low is 55 with 250 as the target high. To hit the forecast high, the stock’s price needs a -129.19% plunge from its current level, while the stock would need to tank 49.58% for it to hit the projected low.
Micron Technology Inc. (MU) estimates and forecasts
Data shows that the Micron Technology Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -0.04% over the past 6 months, a 566.15% in annual growth rate that is considerably higher than the industry average of 4.60%. Year-over-year growth is forecast to reach 52.10% up from the last financial year.
Consensus estimates given by 24 financial analysts project the company’s revenue in the current quarter to hit an average of 8.72B. 24 analysts are of the opinion that Micron Technology Inc.’s revenue for the current quarter will be 9.05B.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -33.89%. The 2024 estimates are for Micron Technology Inc. earnings to increase by 593.06%, but the outlook for the next 5-year period is at 68.50% per year.
MU Dividends
Micron Technology Inc. is expected to release its next quarterly earnings report in November. The 0.42% annual yield figure for the share gives it an annual dividend of 0.46. It is important to note, however, that the 0.42% 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. During the past 5 years, the average dividend yield was 0.33 per year.
Micron Technology Inc. (NASDAQ:MU)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.26% of Micron Technology Inc. shares while 83.03% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.25%. There are 83.03% institutions holding the Micron Technology Inc. stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 8.8246% of the shares, roughly 97.69 million MU shares worth $12.85 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 8.2943% or 91.82 million shares worth $12.08 billion as of 2024-06-30.
