In yesterday’s Wall Street session, Micron Technology Inc. (NASDAQ:MU) shares traded at $73.69, down -0.81% from the previous session.
As of this writing, 38 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 $110.00 and a low of $65.30, we find $85.00. Given the previous closing price of $74.29, this indicates a potential upside of 14.42 percent. MU stock price is now 3.39% away from the 50-day moving average and 11.94% away from the 200-day moving average. The market capitalization of the company currently stands at $81.33B.
There are 8 analysts who have given it a hold rating, whereas 24 have given it a buy rating. Brokers who have rated the stock have averaged $83.96 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 28. The stock was sold for $525,459 at an average price of $75.07. Upon completion of the transaction, the CEO and President now directly owns 748,759 shares in the company, valued at $55.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 21, CEO and President MEHROTRA SANJAY sold 7,000 shares of the business’s stock. A total of $537,115 was realized by selling the stock at an average price of $76.73. This leaves the insider owning 748,759 shares of the company worth $55.18 million. Insiders disposed of 1,751,838 shares of company stock worth roughly $129.09 million over the past 1 year. A total of 0.66% of the company’s stock is owned by insiders.
Tuesday morning saw Micron Technology Inc. (NASDAQ: MU) opened at $73.47. During the past 12 months, Micron Technology Inc. has had a low of $48.43 and a high of $79.02. 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 $71.28 and a two-hundred day moving average price translates $65.83 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 -$1.07, beating analysts’ expectations of -$1.18 by 0.11. 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 $4.59B in revenue.
Micron Technology Inc.(MU) Company Profile
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels. The company offers memory products for the cloud server, enterprise, client, graphics, networking, industrial, and automotive markets, as well as for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer storage markets; discrete storage products in component and wafers; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its direct sales force, independent sales representatives, distributors, and retailers; and web-based customer direct sales channel, as well as through channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.
