In yesterday’s Wall Street session, Micron Technology Inc. (NASDAQ:MU) shares traded at $117.13, up 6.28% from the previous session.
MU stock price is now 31.11% away from the 50-day moving average and 55.37% away from the 200-day moving average. The market capitalization of the company currently stands at $129.71B.
On March 21, 2024, Argus Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $140, while ‘TD Cowen’ rates the stock as ‘Outperform’
In other news, MEHROTRA SANJAY, CEO and President sold 45,000 shares of the company’s stock on Mar 21 ’24. The stock was sold for $5,102,100 at an average price of $113.38. Upon completion of the transaction, the CEO and President now directly owns 758,557 shares in the company, valued at $88.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 19 ’24, CEO and President MEHROTRA SANJAY sold 7,000 shares of the business’s stock. A total of $651,528 was realized by selling the stock at an average price of $93.08. This leaves the insider owning 773,557 shares of the company worth $90.61 million. 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 $56.01 and a high of $113.50. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 3.74, and a quick ratio of 2.40. The fifty day moving average price for MU is $89.33 and a two-hundred day moving average price translates $75.39 for the stock.
The latest earnings results from Micron Technology Inc. (NASDAQ: MU) was released for Feb, 2024. According to the Semiconductors Company, earnings per share came in at $0.39, beating analysts’ expectations of -$0.23 by 0.62. This compares to -$2.12 EPS in the same period last year. The net profit margin was -20.57% and return on equity was -8.27% for MU. The company reported revenue of $5.82 billion for the quarter, compared to $3.69 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.7 percent. For the current quarter, analysts expect MU to generate $6.07B in revenue.
