Micron Technology Inc. [MU] stock is trading at $96.25, up 2.39%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The MU shares have gain 2.22% over the last week, with a monthly amount glided 19.25%, and seem to be holding up well over a long-time horizon.
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On 20, March 2024, Micron Technology, Inc. Reports Results for the Second Quarter of Fiscal 2024. In a post published today on Yahoo Finance, AI demand and tight supply accelerate return to profitability.
From an analyst’s perspective:
Micron Technology Inc. [NASDAQ: MU] stock has seen the most recent analyst activity on March 18, 2024, when Cantor Fitzgerald reiterated its Overweight rating and also boosted its price target to $120 from $100. Previously, Barclays reaffirmed its Overweight rating on March 18, 2024, and elevated its price target to $120. On March 15, 2024, TD Cowen reiterated its Outperform rating and revised its price target to $120 on the stock. Citigroup reiterated its Buy rating and increased its price target to $150 on March 15, 2024. Stifel upgraded its rating to a Buy and raised its price target to $120 on March 07, 2024. Cantor Fitzgerald started tracking with a Overweight rating for this stock on January 23, 2024, and assigned it a price target of $100. In a note dated January 04, 2024, Piper Sandler upgraded an Overweight rating on this stock and boosted its target price from $70 to $95.
Micron Technology Inc. [MU] stock has fluctuated between $56.01 and $101.85 over the past year. 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 $96.25 at the most recent close of the market. An investor can expect a potential drop of -17.02% based on the average MU price forecast.
Analyzing the MU fundamentals
Micron Technology Inc. [NASDAQ:MU] reported sales of 16.18B for the trailing twelve months, which represents a growth of 15.69%. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.33.
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 94.33 points at the first support level, and at 92.42 for the second support level. However, for the 1st resistance point, the stock is sitting at 97.42, and for the 2nd resistance point, it is at 98.60.
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
For context, Micron Technology Inc.’s Current Ratio is 3.53. Also, the Quick Ratio is 2.14, while the Cash Ratio stands at 1.35. Considering the valuation of this stock, the price to sales ratio is 6.57, the price to book ratio is 2.48.
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.
