The stock price of Micron Technology Inc. (NASDAQ: MU) has plunged by -0.80 when compared to previous closing price of 112.05, but the company has seen a 3.96% gain in its stock price over the last five trading sessions. fool.com reported 2024-10-20 that These two stocks look well positioned for a rebound.
Is It Worth Investing in Micron Technology Inc. (NASDAQ: MU) Right Now?
Micron Technology Inc. (NASDAQ: MU) has a price-to-earnings ratio that is above its average at 164.89x. The stock has a 36-month beta value of 1.18. Opinions on the stock are mixed, with 20 analysts rating it as a “buy,” 8 as “overweight,” 3 as “hold,” and 0 as “sell.”
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The public float for MU is 1.10B, and at present, short sellers hold a 3.09% of that float. On October 21, 2024, the average trading volume of MU was 25.21M shares.
MU’s Market Performance
MU’s stock has seen a 3.96% increase for the week, with a 24.54% rise in the past month and a -3.58% fall in the past quarter. The volatility ratio for the week is 3.56%, and the volatility levels for the past 30 days are at 3.45% for Micron Technology Inc. The simple moving average for the past 20 days is 7.21% for MU’s stock, with a 3.60% 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 12.76% 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 -29.44% of loss for the given period.
Volatility was left at 3.45%, however, over the last 30 days, the volatility rate increased by 3.56%, as shares surge +22.28% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.72% upper at present.
During the last 5 trading sessions, MU rose by +3.96%, which changed the moving average for the period of 200-days by +35.12% in comparison to the 20-day moving average, which settled at $103.68. In addition, Micron Technology Inc. saw 30.24% 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 sale 4,890 shares at the price of $113.00 back on Sep 26 ’24. After this action, ARNZEN APRIL S now owns 135,830 shares of Micron Technology Inc., valued at $552,570 using the latest closing price.
ARNZEN APRIL S, the Officer of Micron Technology Inc., proposed sale 4,890 shares at $113.00 during a trade that took place back on Sep 26 ’24, which means that ARNZEN APRIL S is holding shares at $552,570 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 0.2 points at debt to capital in total, while cash flow to debt ratio is standing at 0.75. The debt to equity ratio resting at 0.25. The interest coverage ratio of the stock is 1.87.
Currently, EBITDA for the company is 9.58 billion with net debt to EBITDA at 0.47. When we switch over and look at the enterprise to sales, we see a ratio of 5.08. 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
To sum up, Micron Technology Inc. (MU) has seen a better performance recently. Analysts have differing views on the stock, with some seeing 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.
