In today’s recent session, 2.79 million shares of the Micron Technology Inc (NASDAQ:MU) have been traded, and its beta is 1.17. Most recently the company’s share price was $97.71, and it changed around -$0.02 or -0.02% from the last close, which brings the market valuation of the company to $108.34B. MU at last check was trading at a discount to its 52-week high of $157.54, offering almost -61.23% off that amount. The share price’s 52-week low was $72.93, which indicates that the recent value has risen by an impressive 25.36% since then. We note from Micron Technology Inc’s average daily trading volume that its 10-day average is 16.55 million shares, with the 3-month average coming to 22.09 million.
Micron Technology Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.45. If we narrow it down even further, the data shows that 0 out of 40 analysts rate the stock as a Sell; another 9 rate it as Overweight. Among the rest, 3 recommended MU as a Hold, whereas 27 deemed it a Buy, and 1 rated it as Underweight. Micron Technology Inc is expected to report earnings per share of 1.77 for the current quarter.
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Micron Technology Inc (NASDAQ:MU) trade information
Instantly MU has been showing red trend so far today with a performance of -0.02% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 102.29 on recent trading dayincreased the stock’s daily price by 4.48%. The company’s shares are currently up 14.49% year-to-date, but still down -2.21% over the last five days. On the other hand, Micron Technology Inc (NASDAQ:MU) is -9.38% down in the 30-day period. We can see from the shorts that 35.56 million shares have been sold at a short interest cover period of 1.77 day(s).
The consensus price target as assigned by Wall Street analysts is $142.5, which translates to bulls needing to increase their stock price by 31.43% from its current value. Analyst projections state that MU is forecast to be at a low of $55 and a high of $250.
Micron Technology Inc (MU) estimates and forecasts
Micron Technology Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -22.62 percent over the past six months and at a 566.15% annual growth rate that is well above the industry average of 16.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 286.07% in revenue this quarter, and will report an increase of 369.66% in the next quarter. The year-over-year growth rate is expected to be 52.26%, up from the previous year.
Consensus estimates provided by 24 financial analysts predict the company will bring in an average of 8.71B in revenue for the current quarter. 24 analysts expect Micron Technology Inc to make 9.05B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 4.73B and 5.82B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 84.22%. Forecasts for the next quarter put sales growth at 55.35%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -33.89%. Micron Technology Inc earnings are expected to increase by 582.65% in 2024, but the outlook is positive 17.10% per year for the next five years.
MU Dividends
Micron Technology Inc’s next quarterly earnings report is expected to be released in December. The annual dividend yield of the stock is 0.47 percent and its annual dividend per share was 0.46. It is important to note, however, that the 0.47% 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 0.27% of Micron Technology Inc shares, and 80.98% of them are in the hands of institutional investors. The stock currently has a share float of 81.19%. Micron Technology Inc stock is held by 2388.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.8246% of the shares, which is about 97.69 million shares worth $12.85 billion.
BLACKROCK INC., with 8.2943% or 91.82 million shares worth $12.08 billion as of 2024-06-30, 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 Jun 30, 2024. The former held 34.98 shares worth $3.42 billion, making up 3.16% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 28.42 shares worth around $2.77 billion, which represents about 2.56% of the total shares outstanding.
