In yesterday’s Wall Street session, Micron Technology Inc. (NASDAQ:MU) shares traded at $68.07, up 1.78% from the previous session.
39 analysts cover Micron Technology Inc. (NASDAQ:MU), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $100.00 and a low of $58.50, we find $80.00. Given the previous closing price of $66.88, this indicates a potential upside of 19.62 percent. MU stock price is now -0.02% away from the 50-day moving average and 6.54% away from the 200-day moving average. The market capitalization of the company currently stands at $74.74B.
The stock has received a hold rating from 7 analysts and a buy rating from 24. Brokers who have rated the stock have averaged $80.80 as their price target over the next twelve months.
In other news, MEHROTRA SANJAY, CEO and President sold 7,000 shares of the company’s stock on Oct 17. The stock was sold for $483,019 at an average price of $69.00. Upon completion of the transaction, the CEO and President now directly owns 695,437 shares in the company, valued at $47.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 16, EVP, Chief People Officer ARNZEN APRIL S sold 3,508 shares of the business’s stock. A total of $244,543 was realized by selling the stock at an average price of $69.71. This leaves the insider owning 155,352 shares of the company worth $10.57 million. Insiders disposed of 1,166,823 shares of company stock worth roughly $79.43 million over the past 1 year. A total of 0.56% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MU stock. A new stake in Micron Technology Inc. shares was purchased by SLATE PATH CAPITAL LP during the first quarter worth $220,540,000. POINT72 ASSET MANAGEMENT, L.P. invested $192,298,000 in shares of MU during the first quarter. In the first quarter, APPALOOSA LP acquired a new stake in Micron Technology Inc. valued at approximately $95,298,000. WOODLINE PARTNERS LP acquired a new stake in MU for approximately $61,788,000. THUNDERBIRD PARTNERS LLP purchased a new stake in MU valued at around $55,079,000 in the second quarter. In total, there are 1,840 active investors with 81.71% ownership of the company’s stock.
On Tuesday morning Micron Technology Inc. (NASDAQ: MU) stock kicked off with the opening price of $67.29. During the past 12 months, Micron Technology Inc. has had a low of $48.43 and a high of $74.77. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 4.46, and a quick ratio of 2.70. The fifty day moving average price for MU is $68.08 and a two-hundred day moving average price translates $63.95 for the stock.
The latest earnings results from Micron Technology Inc. (NASDAQ: MU) was released for Aug, 2023. The net profit margin was -37.54% and return on equity was -12.41% for MU. The company reported revenue of $4.01 billion for the quarter, compared to $6.64 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -39.64 percent.
Moreover, the firm recently paid out its quarterly dividend on 10/25/2023. Investors who held shares on 10/10/2023 were paid a $0.115 dividend. On an annualized basis, this represents a $0.36 dividend and a 0.54% percent yield. There was an ex-dividend date of 10/06/2023 for this dividend. In terms of dividend payout ratio, MU is presently at 5.55%.
