Micron Technology Inc. (NASDAQ: MU) has seen a decline in its stock price by -4.61 in relation to its previous close of 111.93. However, the company has experienced a -12.86% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-20 that Cracks are starting to form in the tech trade. After leading the market higher over the last 18 months, technology stocks are starting to waver.
Is It Worth Investing in Micron Technology Inc. (NASDAQ: MU) Right Now?
MU has 36-month beta value of 1.28. Analysts have mixed views on the stock, with 20 analysts rating it as a “buy,” 8 as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for MU is 1.10B, and currently, short sellers hold a 2.07% ratio of that float. The average trading volume of MU on April 22, 2024 was 21.82M shares.
MU’s Market Performance
The stock of Micron Technology Inc. (MU) has seen a -12.86% decrease in the past week, with a 10.93% rise in the past month, and a 22.01% gain in the past quarter. The volatility ratio for the week is 4.89%, and the volatility levels for the past 30 days are at 4.62% for MU. The simple moving average for the past 20 days is -11.21% for MU’s stock, with a 32.89% simple moving average for the past 200 days.
Analysts’ Opinion of MU
Many brokerage firms have already submitted their reports for MU stocks, with KeyBanc Capital Markets repeating the rating for MU by listing it as a “Overweight.” The predicted price for MU in the upcoming period, according to KeyBanc Capital Markets is $150 based on the research report published on April 08, 2024 of the current year 2024.
Argus gave a rating of “Buy” to MU, setting the target price at $140 in the report published on March 21st of the current year.
MU Trading at 4.70% 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 -18.21% of loss for the given period.
Volatility was left at 4.62%, however, over the last 30 days, the volatility rate increased by 4.89%, as shares sank -2.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +25.36% upper at present.
During the last 5 trading sessions, MU fell by -12.86%, which changed the moving average for the period of 200-days by +72.04% in comparison to the 20-day moving average, which settled at $120.10. In addition, Micron Technology Inc. saw 25.11% 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 MEHROTRA SANJAY, who sale 7,000 shares at the price of $120.70 back on Apr 16 ’24. After this action, MEHROTRA SANJAY now owns 719,049 shares of Micron Technology Inc., valued at $844,920 using the latest closing price.
MEHROTRA SANJAY, the CEO and President of Micron Technology Inc., sale 7,000 shares at $122.60 during a trade that took place back on Apr 09 ’24, which means that MEHROTRA SANJAY is holding 728,557 shares at $858,171 based on the most recent closing price.
Stock Fundamentals for MU
Current profitability levels for the company are sitting at:
- -0.23 for the present operating margin
- -0.0 for the gross margin
The net margin for Micron Technology Inc. stands at -0.21. The total capital return value is set at -0.07. Equity return is now at value -8.27, with -5.70 for asset returns.
Based on Micron Technology Inc. (MU), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at 0.23. The debt to equity ratio resting at 0.28. The interest coverage ratio of the stock is -8.01.
Currently, EBITDA for the company is 2.66 billion with net debt to EBITDA at 2.0. When we switch over and look at the enterprise to sales, we see a ratio of 6.87. The receivables turnover for the company is 4.26for trailing twelve months and the total asset turnover is 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.74.
Conclusion
To put it simply, Micron Technology Inc. (MU) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
