So Far This Year, Micron Technology Inc. (MU) Reached A New High 2 times


As of Wednesday close, Micron Technology Inc.’s (NASDAQ:MU) stock was up $0.31, moving up 0.53 percent to $58.93. The average number of shares traded per day over the past five days has been 10,367,940 shares. 2 times new highs have been achieved over the past 5 days, with a $0.06 gain in that time frame. In the last twenty days, the average volume was 15,964,825, while in the previous 50 days, it was 19,276,510.

Since last month, MU stock rose 5.48%. Shares of the company fell to $51.46 on 10/28/22, the lowest level in the past month. A 52-week high of $98.45 was reached on 01/05/22 after having rallying from a 52-week low of $48.45. Since the beginning of this year, MU’s stock price has dropped by -36.74% or -$34.22, and marked a new high 3 times. However, the stock has declined by -40.14% since its 52-week high.

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MU stock investors should be aware that Micron Technology Inc. (MU) stock had its last reported insider trading activity 101 days ago on Aug 16. Bokan Michael W, the SVP, Worldwide Sales of the company, disposed of 16,600 shares for $63.82 on Aug 16. It resulted in a $1,059,450 divestment by the insider. ARNZEN APRIL S sold 5,600 shares at an average price of $76.00 on Mar 24. The insider now owns 89,172 shares following the transaction. On Feb 16, SVP, General Counsel&Secretary Beard Robert P sold 266 shares at $96.17 apiece. The transaction was valued at $25,581.

Valuation Metrics

Right now, Micron Technology Inc. (MU) has a P/E ratio of about 7.62. The stock’s beta is 1.28. Besides these, the trailing price-to-sales (P/S) ratio of 2.09, the price-to-book (PB) ratio of 1.30, and the price-to-cash flow ratio of 24.21 may also be considered.

The latest dividend of $0.1150 per share was paid out, remained unchanged from last year’s $0.1150. On Thursday June 30 2022, a $0.0150 dividend increase was announced.

Financial Health

In the three months ended August 30, Micron Technology Inc.’s quick ratio stood at 2.00, while its current ratio was 2.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending August 30 was 0.14, and the total debt-to-equity ratio was 0.14. On the profitability front, the trailing twelve-month gross margin is 45.20% percent. In the year ended August 30, operating margins totaled 31.30%. Based on annual data, MU earned $13.9 billion in gross profit and brought in $30.76 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 15.40%. Return on equity (ROE) for the past 12 months was 18.00%.

In Micron Technology Inc.’s quarter-end financial report for August 30, it reported total debt of $6.9 billion against cash and short-term investments of $900.0 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. MU’s revenue fell -30.09% to $8.64 billion during the quarter, while net income inched up to $6.36 billion. While analysts expected Micron Technology Inc. to report $1.3 quarterly earnings, the actual figure was $1.45 per share, beating the consensus estimate by 11.50%. During the quarter, the company generated $3.4 billion in EBITDA. The liabilities of Micron Technology Inc. were 16.38 billion at the end of its most recent quarter ended August 30, and its total debt was $7.58 billion. The value of shareholders’ equity is $1.09 billion.

Technical Picture

This quick technical analysis looks at Micron Technology Inc.’s (MU) price momentum. With a historical volatility rate of 47.19%, the RSI 9-day stood at 54.27% on 23 November.

With respect to its five-day moving average, the current Micron Technology Inc. price is up by +0.10% percent or $0.06. At present, MU shares trade +6.28% above its 20-day simple moving average and +3.88% percent above its 100-day simple moving average. However, the stock is currently trading approximately +10.96% above its SMA50 and -29.95% below its SMA200.

Stochastic coefficient K was 46.07% and Stochastic coefficient D was 48.50%, while ATR was 2.31. Given the Stochastic reading of 42.75% for the 14-day period, the RSI (14) reading has been calculated as 55.04%. As of today, the MACD Oscillator reading stands at -1.57, while the 14-day reading stands at -0.67.

Analyst Ratings

Credit Suisse launched its rating on Micron Technology Inc. (NASDAQ: MU) to an Outperform in a note to investors on November 16, 2022. Micron Technology Inc. (MU) has been rated Overweight by analysts. According to 2 brokerage firms, MU is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 5 analysts rate Micron Technology Inc. stock as buy, with 25 recommending it as overweight.

With a median target price of $68.00, the current consensus forecast for the stock is $45.00 – $100.00. Based on these forecasts, analysts predict Micron Technology Inc. (MU) will achieve an average price target of $67.13.


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