The stock of Micron Technology Inc. (NASDAQ:MU) last traded at $77.51, up 0.83% from the previous session.
Data from the available sources indicates that Micron Technology Inc. (NASDAQ:MU) is covered by 38 analysts. 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 $65.00, we find $80.00. Given the previous closing price of $76.87, this indicates a potential upside of 4.07 percent. MU stock price is now 9.95% away from the 50-day moving average and 18.57% away from the 200-day moving average. The market capitalization of the company currently stands at $85.11B.
In total, 7 analysts have assigned it a hold rating, and 24 have given it a buy rating. Brokers who have rated the stock have averaged $81.52 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 Nov 21. The stock was sold for $537,115 at an average price of $76.73. Upon completion of the transaction, the CEO and President now directly owns 748,759 shares in the company, valued at $58.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 14, CEO and President MEHROTRA SANJAY sold 22,000 shares of the business’s stock. A total of $1,692,675 was realized by selling the stock at an average price of $76.94. This leaves the insider owning 748,759 shares of the company worth $58.04 million. Insiders disposed of 1,654,566 shares of company stock worth roughly $128.25 million over the past 1 year. A total of 0.67% of the company’s stock is owned by insiders.
During the past 12 months, Micron Technology Inc. has had a low of $48.43 and a high of $78.90. 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 $70.65 and a two-hundred day moving average price translates $65.46 for the stock.
The latest earnings results from Micron Technology Inc. (NASDAQ: MU) was released for Aug, 2023. According to the Semiconductors Company, earnings per share came in at -$0.98, beating analysts’ expectations of -$1.08 by 0.1. This compares to $1.36 EPS in the same period last year. 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. For the current quarter, analysts expect MU to generate $4.07B in revenue.
