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Is There a Dimmer Outlook Ahead for Micron Technology Inc. (MU)?

Micron Technology Inc. (NASDAQ:MU) went up by 0.53% from its latest closing price compared to the recent 1-year high of $98.45. The company’s stock price has collected 0.10% of gains in the last five trading sessions. The Wall Street Journal reported on 11/16/22 that Micron to Cut Production of Memory Chips

Is It Worth Investing in Micron Technology Inc. (NASDAQ :MU) Right Now?

Micron Technology Inc. (NASDAQ:MU) scored a price-to-earnings ratio above its average ratio, recording 7.62 x from its present earnings ratio. Plus, the 36-month beta value for MU is at 1.28. Opinions of the stock are interesting as 25 analysts out of 39 who provided ratings for Micron Technology Inc. declared the stock was a “buy,” while 5 rated the stock as “overweight,” 7 rated it as “hold,” and 2 as “sell.”

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The average price from analysts is $67.13, which is $8.07 above the current price. MU currently public float of 1.08B and currently shorts hold a 2.92% ratio of that float. Today, the average trading volume of MU was 18.29M shares.

MU’s Market Performance

MU stocks went up by 0.10% for the week, with a monthly jump of 5.48% and a quarterly performance of -3.71%, while its annual performance rate touched -31.00%. The volatility ratio for the week stands at 2.89% while the volatility levels for the past 30 days are set at 3.83% for Micron Technology Inc. The simple moving average for the period of the last 20 days is 3.08% for MU stocks with a simple moving average of -9.81% for the last 200 days.

Analysts’ Opinion of MU

Many brokerage firms have already submitted their reports for MU stocks, with Credit Suisse repeating the rating for MU by listing it as a “Outperform.” The predicted price for MU in the upcoming period, according to Credit Suisse is $78 based on the research report published on November 16th of the current year 2022.

Loop Capital, on the other hand, stated in their research note that they expect to see MU reach a price target of $70. The rating they have provided for MU stocks is “Buy” according to the report published on October 14th, 2022.

MU Trading at 8.34% from the 50-Day Moving Average

After a stumble in the market that brought MU to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -40.14% of loss for the given period.

Volatility was left at 3.83%, however, over the last 30 days, the volatility rate increased by 2.89%, as shares surge +6.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.96% upper at present.

During the last 5 trading sessions, MU rose by +0.10%, which changed the moving average for the period of 200-days by -29.95% in comparison to the 20-day moving average, which settled at $57.34. In addition, Micron Technology Inc. saw -36.74% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MU starting from Bokan Michael W, who sale 16,600 shares at the price of $63.82 back on Aug 16. After this action, Bokan Michael W now owns 119,126 shares of Micron Technology Inc., valued at $1,059,450 using the latest closing price.

ARNZEN APRIL S, the SVP, Chief People Officer of Micron Technology Inc., sale 5,600 shares at $76.00 during a trade that took place back on Mar 24, which means that ARNZEN APRIL S is holding 89,172 shares at $425,600 based on the most recent closing price.

Stock Fundamentals for MU

Current profitability levels for the company are sitting at:

  • +31.76 for the present operating margin
  • +45.36 for the gross margin

The net margin for Micron Technology Inc. stands at +28.24. Equity return is now at value 18.00, with 13.50 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.89.

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