Is it Good Time to Bail on Micron Technology Inc. [MU]? Let’s Look at the Charts

In a recent bid Micron Technology Inc. [MU] faced a contemporary bid of $67.08 yielding a 4.52% incline where 36.2 million shares have exchanged hands over the last week. MU amount got a boost by 4.67% or $2.99 versus $64.09 at the end of the prior session. This change led market cap to move at 73.75B, putting the price 115.48% below the 52-week high and 2.80% above the 52-week low. The company’s stock has a normal trading capacity of 36.2 million shares while the relative volume is 2.02.

On 1, December 2020, Micron Updates First Quarter Fiscal 2021 Guidance. According to news published on Yahoo Finance, Micron Technology, Inc. (Nasdaq: MU), today announced that it is increasing its revenue, gross margin and EPS guidance for the first quarter of fiscal 2021, which ends Dec. 3, 2020, as set forth in the tables below.

Analyst Birdseye View:

The most recent analyst activity for Micron Technology Inc. [NASDAQ:MU] stock was on September 30, 2020, when it was Reiterated with a Buy rating from UBS, which also lowered its 12-month price target on the stock from $63 to $61. Before that, on October 13, 2020, Deutsche Bank Recapitulated a Buy rating and elevated its amount target to $60. On September 30, 2020, RBC Capital Mkts Reiterated an Outperform rating and plunged its price target on this stock from $60 to $57. On September 30, 2020, Piper Sandler Reiterated a Neutral rating and decreased its price target from $51 to $45. On September 30, 2020, Needham Reiterated a Buy rating and decreased its price target to $65. On September 30, 2020, Mizuho Reiterated a Buy rating and boosted its amount target on this stock to $56. On September 30, 2020, Deutsche Bank Reiterated a Hold rating and boosted its target amount on this stock from $48 to $51. Cowen elevated its amount target by recapitulating a higher weight for this stock.

In the past 52 weeks of trading, this stock has oscillated between a low of $31.13 and a peak of $65.25. Right now, according to Wall Street analyst the average 12-month amount target is $72.50. At the most recent market close, shares of Micron Technology Inc. [NASDAQ:MU] were valued at $67.08. According to the average price forecast, investors can expect a potential return of 12.19%.

FUNDAMENTAL ANALYSIS

Micron Technology Inc. [NASDAQ:MU] most recently reported quarterly sales of 6.06 billion, which represented growth of 24.40%. This publicly-traded organization’s revenue is $535,875 per employee, while its income is $67,175 per employee. This company’s Gross Margin is currently 30.60%, its Operating Margin is 14.20%, its Pretax Margin is +13.92, and its Net Margin is +12.54. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 5.24, 7.18, 6.91 and 6.23 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 15.54 and the whole liability to whole assets at 13.37. It shows enduring liability to the whole principal at 14.96 and enduring liability to assets at 0.13 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 65.27 points at 1st support level, the second support level is making up to 63.46. But as of 1st resistance point, this stock is sitting at 68.76 and at 70.43 for 2nd resistance point.

Micron Technology Inc. [MU] reported its earnings at $1.08 per share in the fiscal quarter closing of 8/30/2020. The Analysts for Wall Street were expecting to report its earnings at $0.99/share signifying the difference of 0.09 and 9.10% surprise value. Comparing the previous quarter ending of 5/30/2020, the stated earnings were $0.82 calling estimates for $0.77/share with the difference of 0.05 depicting the surprise of 6.50%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Micron Technology Inc. [NASDAQ:MU] is 2.70. Likewise, the Quick ratio is also the same, showing Cash ratio at 1.23. Now if looking for a valuation of this stock’s amount to sales ratio it’s 2.44, it’s amount to book ratio is 1.32 and showing 28.22 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by Deboer Scott J, EVP, Technology & Products, and it was the sale of 12446.0 shares on Nov 30. ARNZEN APRIL S, the SVP, Chief People Officer, completed a sale of 11668.0 shares on Nov 16. On Nov 16, Deboer Scott J, EVP, Technology & Products, completed a sale of 25000.0 shares.