As of Thursday close, Micron Technology Inc.’s (NASDAQ:MU) stock was down -$0.66, moving down -1.03 percent to $63.56. The average number of shares traded per day over the past five days has been 13,482,800 shares. 2 times new highs have been achieved over the past 5 days, with a -$1.88 fall in that time frame. In the last twenty days, the average volume was 13,579,195, while in the previous 50 days, it was 15,382,938.
Since last month, MU stock retreated -2.16%. Shares of the company fell to $63.40 on 08/17/23, the lowest level in the past month. A 52-week high of $74.77 was reached on 05/30/23 after having rallying from a 52-week low of $48.43. Since the beginning of this year, MU’s stock price has risen by 27.17% or $13.58, and marked a new high 19 times. However, the stock has declined by -14.99% since its 52-week high.
MU stock investors should be aware that Micron Technology Inc. (MU) stock had its last reported insider trading activity 2 days ago on Aug 16. Bokan Michael W, the SVP, Worldwide Sales of the company, disposed of 17,000 shares for $64.58 on Aug 16. It resulted in a $1,097,860 divestment by the insider. MEHROTRA SANJAY sold 7,000 shares at an average price of $66.22 on Aug 15. The insider now owns 582,862 shares following the transaction. On Aug 14, CEO and President MEHROTRA SANJAY sold 30,000 shares at $67.47 apiece. The transaction was valued at $2,024,225.
Valuation Metrics
The stock’s beta is 1.37. Besides these, the trailing price-to-sales (P/S) ratio of 3.89, the price-to-book (PB) ratio of 1.53.
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 May 30, Micron Technology Inc.’s quick ratio stood at 2.60, while its current ratio was 4.30, 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 May 30 was 0.29, and the total debt-to-equity ratio was 0.29. On the profitability front, the trailing twelve-month gross margin is 9.00% percent. In the year ended May 30, EBITDA margin amounted to 54.90%, whereas operating margins totaled -15.10%. 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 -6.10%.
In Micron Technology Inc.’s quarter-end financial report for May 30, it reported total debt of $12.99 billion against cash and short-term investments of $1.05 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MU’s revenue fell -130.33% to $3.69 billion during the quarter, while net income inched up to $3.75 billion. While analysts expected Micron Technology Inc. to report -$1.58 quarterly earnings, the actual figure was -$1.43 per share, beating the consensus estimate by 9.50%. During the quarter, the company generated $195.0 million in EBITDA. The liabilities of Micron Technology Inc. were 20.27 billion at the end of its most recent quarter ended May 30, and its total debt was $13.91 billion. The value of shareholders’ equity is $1.1 billion.
Technical Picture
This quick technical analysis looks at Micron Technology Inc.’s (MU) price momentum. With a historical volatility rate of 41.27%, the RSI 9-day stood at 37.21% on 17 August.
With respect to its five-day moving average, the current Micron Technology Inc. price is down by -2.87% percent or -$1.88. At present, MU shares trade -1.75% below its 20-day simple moving average and +3.92% percent above its 100-day simple moving average. However, the stock is currently trading approximately -5.89% below its SMA50 and +17.62% above its SMA200.
Stochastic coefficient K was 6.34% and Stochastic coefficient D was 17.42%, while ATR was 2.06. Given the Stochastic reading of 1.91% for the 14-day period, the RSI (14) reading has been calculated as 41.30%. As of today, the MACD Oscillator reading stands at -1.73, while the 14-day reading stands at -3.08.
Analyst Ratings
Wolfe Research launched its rating on Micron Technology Inc. (NASDAQ: MU) to an Outperform in a note to investors on July 20, 2023. Micron Technology Inc. (MU) has been rated Overweight by analysts. According to 1 brokerage firm, MU is a sell, and 11 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 20 recommending it as overweight.
With a median target price of $80.00, the current consensus forecast for the stock is $46.00 – $100.00. Based on these forecasts, analysts predict Micron Technology Inc. (MU) will achieve an average price target of $77.31.
