A share price of Micron Technology Inc. [MU] is currently trading at $97.42, up 3.08%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The MU shares have gain 3.12% over the last week, with a monthly amount glided 13.86%, and seem to be holding up well over a long-time horizon.
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On 11, March 2024, Micron Appoints Robert Swan to its Board of Directors. In a post published today on Yahoo Finance, Micron Technology, Inc. (Nasdaq: MU), an industry leader in innovative memory and storage solutions, today announced the appointment of Robert (Bob) Swan to its board of directors. A recognized leader with a distinguished career in the semiconductor, technology and industrial sectors, Swan currently serves as an operating partner at Andreessen Horowitz, where he advises growth-stage portfolio companies.
From an analyst’s perspective:
Micron Technology Inc. [NASDAQ: MU] stock has seen the most recent analyst activity on March 07, 2024, when Stifel upgraded its rating to a Buy and also boosted its price target to $120 from $80. Previously, Cantor Fitzgerald started tracking the stock with Overweight rating on January 23, 2024, and set its price target to $100. On January 04, 2024, upgrade upgraded it’s rating to Overweight and revised its price target to $95 on the stock. Rosenblatt reiterated its Buy rating and increased its price target to $140 on December 21, 2023. Needham reiterated its recommendation of a Buy and raised its price target to $100 on December 21, 2023. TD Cowen reiterated a Outperform rating for this stock on December 18, 2023, and upped its price target to $100. In a note dated December 15, 2023, BofA Securities upgraded an Buy rating on this stock and boosted its target price from $77 to $95.
Micron Technology Inc. experienced fluctuations in its stock price throughout the past year between $52.76 and $101.85. Currently, Wall Street analysts expect the stock to reach $79.87 within the next 12 months. Micron Technology Inc. [NASDAQ: MU] shares were valued at $97.42 at the most recent close of the market. An investor can expect a potential drop of -18.01% based on the average MU price forecast.
Analyzing the MU fundamentals
Trailing Twelve Months sales for Micron Technology Inc. [NASDAQ:MU] were 16.18B which represents 15.69% growth. Gross Profit Margin for this corporation currently stands at -0.14% with Operating Profit Margin at -0.4%, Pretax Profit Margin comes in at -0.41%, and Net Profit Margin reading is -0.43%. To continue investigating profitability, this company’s Return on Assets is posted at -0.11, Equity is -0.15 and Total Capital is -0.11. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.33.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 94.87 points at the first support level, and at 92.33 for the second support level. However, for the 1st resistance point, the stock is sitting at 98.73, and for the 2nd resistance point, it is at 100.05.
Micron Technology Inc. [MU] reported earnings per share of -$0.95 for its fiscal quarter that ended on 11/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.97/share, meaning a difference of $0.02 and a surprise factor of 2.10%. By comparison, the stated earnings for the previous quarter ended on 8/30/2023 were -$1.07 per share as compared to estimates of -$1.18 per share, a difference of $0.11 representing a surprise of 9.30%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Micron Technology Inc. [NASDAQ:MU] is 3.53. As well, the Quick Ratio is 2.14, while the Cash Ratio is 1.35. Considering the valuation of this stock, the price to sales ratio is 6.65, the price to book ratio is 2.51.
Transactions by insiders
Recent insider trading involved MEHROTRA SANJAY, CEO and President, that happened on Mar 12 ’24 when 7000.0 shares were sold. CEO and President, MEHROTRA SANJAY completed a deal on Mar 08 ’24 to sell 45000.0 shares. Meanwhile, CEO and President MEHROTRA SANJAY sold 7000.0 shares on Mar 05 ’24.
