Micron Technology Inc. (MU): Find Out What Insiders Are Doing

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Micron Technology Inc. (NASDAQ:MU) finished Thursday with an addition of $1.53 to close at $50.65, an upside of 3.11 percent. An average of 19,853,461 shares of common stock have been traded in the last five days. There was a fall of -$0.54 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 16,846,496 shares traded, while the 50-day average volume stands at 16,545,447.

MU stock has decreased by -8.11% in the last month. The company shares reached their 1-month lowest point of $48.43 on 12/22/22. With the stock rallying to its 52-week high on 01/05/22, shares of the company touched a low of $48.43 and a high of $98.45 in 52 weeks. It has reached a new high 3 times so far this year and lost -45.63% or -$42.50 in price. In spite of this, the price is down -48.55% from the 52-week high.


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Insider Transactions

MU stock investors should be aware that Micron Technology Inc. (MU) stock had its last reported insider trading activity 136 days ago on Aug 16. In this transaction, the insider spent $1,059,450. SVP, Chief People Officer, ARNZEN APRIL S, disposed of 5,600 shares at a price of $76.00 on Mar 24. The insider now owns more than $425,600 worth of shares. Prior to that, SVP, General Counsel&Secretary Beard Robert P went on to Sale 266 shares at $96.17 each on Feb 16. An amount of $25,581 was transacted.

Valuation Metrics

Micron Technology Inc. (MU) has a trailing price-to-earnings (P/E) ratio of 9.19. The stock’s beta is 1.30. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.00, the price-to-book (PB) ratio at 1.12, and the price-to-cash flow ratio at 118.27.

The company has a payout ratio of 7.70%. The company’s most recent quarterly dividend payment was $0.1150 a share, without any change from last year. Its latest increase dividend $0.0150 reported on Thursday June 30 2022.

Financial Health

The quick ratio of Micron Technology Inc. for the three months ended November 29 was 2.20, and the current ratio was 3.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.20 and a total debt to equity ratio of 0.21 for the quarter ending November 29. Its gross profit as reported stood at $13.9 billion compared to revenue of $30.76 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Micron Technology Inc.’s return on assets was 9.40%.

Earnings Surprise

For the three-month period that ended November 29, Micron Technology Inc. had $1.01 billion in cash and short-term investments compared to $10.09 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$195.0 million in the quarter, while revenues of $1.22 billion were grew 1282.56%. The analyst consensus anticipated Micron Technology Inc.’s latest quarter earnings to come in at -$0.01 per share, but it turned out to be -$0.04, a -300.00% surprise. For the quarter, EBITDA amounted to $1.71 billion. Shareholders own equity worth $1.09 billion.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Micron Technology Inc. (MU) price momentum. RSI 9-day as of the close on 29 December was 40.56%, suggesting the stock is Neutral, with historical volatility in this time frame at 29.94%.

As of today, MU’s price is $49.88 -1.05% or -$0.54 from its 5-day moving average. MU is currently trading -12.14% lower than its 20-day SMA and -17.58% lower than its 100-day SMA. However, the stock’s current price level is -3.62% below the SMA50 and -30.72% below the SMA200.

The stochastic %K and %D were 15.86% and 16.07%, respectively, and the average true range (ATR) was 1.92. With the 14-day stochastic at 23.47% and the average true range at 2.00, the RSI (14) stands at 40.45%. The stock has reached -0.63 on the 9-day MACD Oscillator while the 14-day reading was at -2.01.

Analyst Ratings

UBS reiterated its a Buy rating on Micron Technology Inc. (NASDAQ: MU), but raised their price target to $75, indicating a potential price increase of 32.47% for the stock. The consensus rating for Micron Technology Inc. (MU) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell MU, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 6 analysts, while 23 others rate it as a “buy”.

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