Micron Technology Inc. (NASDAQ: MU)’s stock price has increased by 1.18 compared to its previous closing price of 54.13. however, the company has experienced a -1.49% decrease in its stock price over the last five trading days. Barron’s reported on 12/22/22 that Nvidia, AMD, and Lam Research Slide After Micron Disappoints
Is It Worth Investing in Micron Technology Inc. (NASDAQ: MU) Right Now?
The price-to-earnings ratio for Micron Technology Inc. (NASDAQ: MU) is above average at 9.82x. The 36-month beta value for MU is also noteworthy at 1.41.
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The public float for MU is 1.09B, and at present, short sellers hold a 1.68% of that float. The average trading volume of MU on March 16, 2023 was 14.48M shares.
MU’s Market Performance
MU stock saw a decrease of -1.49% in the past week, with a monthly decline of -11.76% and a quarterly a decrease of -0.85%. The volatility ratio for the week is 3.30%, and the volatility levels for the last 30 days are 3.12% for Micron Technology Inc. (MU). The simple moving average for the last 20 days is -3.98% for MU stock, with a simple moving average of -4.95% for the last 200 days.
Analysts’ Opinion of MU
Many brokerage firms have already submitted their reports for MU stocks, with Raymond James repeating the rating for MU by listing it as a “Outperform.” The predicted price for MU in the upcoming period, according to Raymond James is $70 based on the research report published on March 02nd of the current year 2023.
Mizuho, on the other hand, stated in their research note that they expect to see MU reach a price target of $72, previously predicting the price at $48. The rating they have provided for MU stocks is “Buy” according to the report published on February 10th, 2023.
MU Trading at -6.12% 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 -36.49% of loss for the given period.
Volatility was left at 3.12%, however, over the last 30 days, the volatility rate increased by 3.30%, as shares sank -11.64% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.48% upper at present.
During the last 5 trading sessions, MU fell by -1.73%, which changed the moving average for the period of 200-days by -25.48% in comparison to the 20-day moving average, which settled at $56.68. In addition, Micron Technology Inc. saw 9.58% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MU starting from Deboer Scott J, who sale 20,000 shares at the price of $53.40 back on Mar 13. After this action, Deboer Scott J now owns 228,340 shares of Micron Technology Inc., valued at $1,068,000 using the latest closing price.
ARNZEN APRIL S, the SVP, Chief People Officer of Micron Technology Inc., sale 24,000 shares at $61.91 during a trade that took place back on Jan 30, which means that ARNZEN APRIL S is holding 118,885 shares at $1,485,840 based on the most recent closing price.
Stock Fundamentals for MU
Equity return is now at value 12.60, with 9.40 for asset returns.
Conclusion
In summary, Micron Technology Inc. (MU) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
