The Micron Technology, Inc. (NASDAQ:MU) is going up by 0.32% in today’s trading session, a rise equivalent to 0.16% of the stock’s price from yesterday’s market close. A news came out 2 hours ago stating that Thinking about buying stock in Canopy Growth, Micron Technology, Palatin Technologies, SINTX Technologies, or Tilray? by WSJ. The lowest point that the shares touched during the trading session was $49.84, while the peak of the day was recorded at a share price of $51.39. MU finished the previous session at $50.48 according to the data provided by Barchart, while the trading volume was observed to be $11,757,607.
In the 100 days of trading, MU managed to top a 40.71% Moving average. Additionally, Micron Technology, Inc. shares have achieved a 52-week range between 28.39 and 51.39 alongside 100 days raw stochastic set at 96.13%.
The number of shares outstanding, according to the fundamentals of the company, is set at 1.11B, equal to the value of $55.79B in market capitalization. In the last 30 days, Micron Technology, Inc. shares went down by -1.45%, adding 51.39 to growth in value, on top of a +22.04% boost since 08/12/19.
Micron Technology, Inc. (NASDAQ:MU) Analyst’s Estimates
Micron Technology, Inc. (MU) could record at least $0.47 per share in quarterly earnings in the upcoming report on 09/26/2019, a number that would actually represent a decrease of -59.31% YOY.
According to the average analyst rating, Micron Technology, Inc. would be rated as Overweight. Out of 33 different analysts monitoring MU stock, 19 analysts rate the stock as a BUY, 10 suggest to give the rating of HOLD, 1 indicate that MU is an OVERWEIGHT, 2 rated the stock as a SELL, and 1 analyst believes that the stock should be rated as UNDERWEIGHT.
On Sep-11-19, the stock earned a Upgrade rating due to a new analyst call from Longbow, while analysts from Mizuho believe that the stock is set at Buy, as concluded on Sep-04-19. Morgan Stanley, is still rather wary about the stock, deciding to keep the rating at Equal-Weight as confirmed through a call on Jul-30-19.
Regardless of the rating, Deutsche Bank did increase their price from $45 to $55 as they are considering target share price analysis. Goldman, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on Jul-22-19, giving the stock a Buy from the Neutral rating.
MU Key Ratios To Watch:
Taking in account the profitability of the Company, gross profit margin of +58.87% has been attained, while the operating margin has been recorded at +49.15%. The firm is also showcasing profitability through returns on assets in the company’s ownership, with ROA set at 35.92%. Beta value of the stock is recorded at 1.98. Additionally, Micron Technology, Inc. is recording price volatility of 2.74% for the period of the last seven days and 2.98% in the last 30 days.
Micron Technology, Inc. (NASDAQ:MU) Technical Outlook
For the period of the last 50 days, Micron Technology, Inc. had its Raw Stochastic average set at 94.08% for the latest technical analysis. In comparison to the period of the last 20 days, the present Raw Stochastic average for the last 50 days poses as improvement, set at 92.47%. Stochastic %K for Micron Technology, Inc., with the last 20 days included, was set at 92.03%, having Stochastic %D topping 91.74%. Based on the previous performance of the company for the mentioned period, there are more than several recorded moving trends. When it comes to the period of the last 12 months, accounting the time for year-to-date, price performance appears to be encouraging for Micron Technology, Inc. stocks with recording 59.09% in metrics.
Micron Technology, Inc. Insider Watch:
As far as the position of shares issued by Micron Technology, Inc. (NASDAQ:MU) for the period concluded at the market close of 09/11/19, 364 institutional investors increased their positions in MU shares by 95,420,122, 511 decreased positions by 94,867,343 and 130 institutional investors decided to hold positions at 676,707,614. These numbers put the complete list of institutional holdings set at 866,995,079 shares, in accordance with filings submitted to the Securities and Exchange Commission. The stock had another 95 institutional investments with 18,422,491 new shares in addition to having 118 institutional investors selling their positions in 12,073,652 shares.