The Micron Technology Inc. (NASDAQ:MU) is going down by -2.12% in today’s trading session, a fall equivalent to -1.01% of the stock’s price from yesterday’s market close. A news came out on 11/18/19 stating that How to take advantage of fear, then relief in the stock market leading up to the presidential election by MARKETWATCH. The lowest point that the shares touched during the trading session was $47.47, while the peak of the day was recorded at a share price of $48.405. MU finished the previous session at $47.82 according to the data provided by Barchart, while the trading volume was observed to be $6716635.
In the 100 days of trading, MU managed to top a 45.50% 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 57.16%.
The number of shares outstanding, according to the fundamentals of the company, is set at 1.11B, equal to the value of $52.84B in market capitalization. In the last 30 days, Micron Technology Inc. shares went down by -6.19%, adding 49.90 to growth in value, on top of a +6.58% boost since 10/18/19.
Micron Technology Inc. (NASDAQ:MU) Analyst’s Estimates
Micron Technology Inc. (MU) could record at least $0.48 per share in quarterly earnings in the upcoming report on 12/17/2019, a number that would actually represent an increase of 5.28 YOY.
According to the average analyst rating, Micron Technology Inc. would be rated as Overweight. Out of 32 different analysts monitoring MU stock, 18 analysts rate the stock as a BUY, 11 suggest to give the rating of HOLD, 1 indicate that MU is an OVERWEIGHT, 1 rated the stock as a SELL, and 1 analyst believes that the stock should be rated as UNDERWEIGHT.
On September 25, 2019, the stock earned a Reiterated rating due to a new analyst call from Cowen, while analysts from Goldman believe that the stock is set at Buy, as concluded on September 18, 2019. Longbow, is still rather wary about the stock, deciding to keep the rating at Buy as confirmed through a call on September 11, 2019.
Regardless of the rating, Mizuho did increase their price from $44 to $50 as they are considering target share price analysis. Morgan Stanley, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on July 30, 2019, giving the stock a Equal-Weight from the Underweight rating.
MU Key Ratios To Watch:
Taking in account the profitability of the Company, gross profit margin of +45.72% has been attained, while the operating margin has been recorded at +31.72%. The firm is also showcasing profitability through returns on assets in the company’s ownership, with ROA set at 13.68%. Beta value of the stock is recorded at 1.97. Additionally, Micron Technology Inc. is recording price volatility of 2.11% for the period of the last seven days and 2.31% 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 52.49% 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 48.07%. Stochastic %K for Micron Technology Inc., with the last 20 days included, was set at 58.83%, having Stochastic %D topping 57.94%. 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 50.71% in metrics.
Micron Technology Inc. Insider Watch:
The top three institutional holders of MU stocks are: Vanguard/Primecap Fund with ownership of $1.28 billion, which is approximately 31080100 of the company’s shares; Vanguard Total Stock Market Index Fund, holding 30429189 shares of the stock with an approximate value of $1.26 billion; and Vanguard 500 Index Fund, currently with more than 21739320 shares of the company valued at $898.49 million.