The price-to-earnings ratio for Micron Technology Inc. (NASDAQ: MU) is above average at 158.79x. The 36-month beta value for MU is also noteworthy at 1.18. There are mixed opinions on the stock, with 20 analysts rating it as a “buy,” 8 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
The public float for MU is 1.10B, and at present, short sellers hold a 3.35% of that float. The average trading volume of MU on September 27, 2024 was 25.64M shares.
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MU) stock’s latest price update
Micron Technology Inc. (NASDAQ: MU) has seen a decline in its stock price by -2.35 in relation to its previous close of 109.88. However, the company has experienced a 18.04% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-09-27 that Micron’s Q4 business is on fire due to surging demand for high-bandwidth memory products, especially HBM3E. AI-driven demand for HBM is set to propel Micron’s growth in the coming quarters resulting in a massive expansion of the total addressable market. Micron’s guidance for Q1’25 implies the addition of $1.0B in revenue Q/Q. Margins are expected to continue to grow.
MU’s Market Performance
Micron Technology Inc. (MU) has seen a 18.04% rise in stock performance for the week, with a 13.11% gain in the past month and a -18.42% plunge in the past quarter. The volatility ratio for the week is 3.39%, and the volatility levels for the past 30 days are at 3.75% for MU. The simple moving average for the past 20 days is 17.63% for MU’s stock, with a 1.70% simple moving average for the past 200 days.
Analysts’ Opinion of MU
Many brokerage firms have already submitted their reports for MU stocks, with TD Cowen repeating the rating for MU by listing it as a “Buy.” The predicted price for MU in the upcoming period, according to TD Cowen is $135 based on the research report published on September 26, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see MU reach a price target of $115, previously predicting the price at $160. The rating they have provided for MU stocks is “Buy” according to the report published on September 19th, 2024.
Wells Fargo gave a rating of “Overweight” to MU, setting the target price at $175 in the report published on September 18th of the current year.
MU Trading at 9.27% 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 -31.89% of loss for the given period.
Volatility was left at 3.75%, however, over the last 30 days, the volatility rate increased by 3.39%, as shares surge +12.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.09% lower at present.
During the last 5 trading sessions, MU rose by +18.76%, which changed the moving average for the period of 200-days by +38.77% in comparison to the 20-day moving average, which settled at $91.83. In addition, Micron Technology Inc. saw 25.73% 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 ARNZEN APRIL S, who proposed sale 4,890 shares at the price of $113.00 back on Sep 26 ’24. After this action, ARNZEN APRIL S now owns shares of Micron Technology Inc., valued at $552,570 using the latest closing price.
ARNZEN APRIL S, the EVP and Chief People Officer of Micron Technology Inc., sale 4,890 shares at $135.86 during a trade that took place back on Jun 27 ’24, which means that ARNZEN APRIL S is holding 142,321 shares at $664,355 based on the most recent closing price.
Stock Fundamentals for MU
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.22 for the gross margin
The net margin for Micron Technology Inc. stands at 0.03. The total capital return value is set at 0.02. Equity return is now at value 1.74, with 1.16 for asset returns.
Based on Micron Technology Inc. (MU), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 0.39. The debt to equity ratio resting at 0.3. The interest coverage ratio of the stock is 3.63.
Currently, EBITDA for the company is 1.3 billion with net debt to EBITDA at 0.94. When we switch over and look at the enterprise to sales, we see a ratio of 5.01. The receivables turnover for the company is 3.8for trailing twelve months and the total asset turnover is 0.36. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.64.
Conclusion
In summary, Micron Technology Inc. (MU) has had a better 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.
