Does Micron Technology Inc. (NASDAQ:MU) warrant a purchase right now? What to Consider Before Making a Decision

Micron Technology Inc. (NASDAQ:MU) shares traded -0.16% lower at $72.80 on Wall Street last session.

In accordance with the data, 39 analysts cover Micron Technology Inc. (NASDAQ:MU). 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 $72.92, this indicates a potential upside of 9.71 percent. MU stock price is now 5.75% away from the 50-day moving average and 12.95% away from the 200-day moving average. The market capitalization of the company currently stands at $79.94B.

It has been rated a hold by 7 analysts and a buy by 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 31. The stock was sold for $462,883 at an average price of $66.13. Upon completion of the transaction, the CEO and President now directly owns 695,437 shares in the company, valued at $50.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 24, CVP, Chief Accounting Officer ALLEN SCOTT R. sold 8,882 shares of the business’s stock. A total of $602,111 was realized by selling the stock at an average price of $67.79. This leaves the insider owning 49,575 shares of the company worth $3.61 million. Insiders disposed of 1,173,412 shares of company stock worth roughly $85.42 million over the past 1 year. A total of 0.56% of the company’s stock is owned by insiders.

Micron Technology Inc. (NASDAQ: MU) opened at $72.48 on Tuesday. 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 $68.84 and a two-hundred day moving average price translates $64.45 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.

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