Micron Technology Inc. (NASDAQ:MU) shares, rose in value, with the stock price down by -3.06% to the previous day’s close as strong demand from buyers drove the stock to $124.09.
Actively observing the price movement in the last trading, the stock closed the session at $128.01. The value of beta (5-year monthly) was 1.28. Referring to stock’s 52-week performance, its high was $128.28, and the low was $56.01. On the whole, MU has fluctuated by 31.35% over the past month.
With the market capitalization of Micron Technology Inc. currently standing at about $137.41 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jun 26, 2024 – Jul 01, 2024. The company’s Forward Dividend Ratio is 0.57, with its dividend yield at 0.46%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.47, which is expected to increase to $1.42 for fiscal year $0.82 and then to about $7.48 by fiscal year 2025. Data indicates that the EPS growth is expected to be 118.40% in 2025, while the next year’s EPS growth is forecast to be 812.20%.
Analysts have estimated the company’s revenue for the quarter at $6.14 billion, with a low estimate of $5.94 billion and a high estimate of $6.31 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $22.76 billion, representing an increase of 46.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MU’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MU currently trading nearly 17.33% and 31.46% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.82, while the 7-day volatility ratio is showing 4.51% which for the 30-day chart, stands at 3.94%. Furthermore, Micron Technology Inc. (MU)’s beta value is 1.27, and its average true range (ATR) is 5.04.
A comparison of Micron Technology Inc. (MU) with its peers suggests the former has fared considerably weaker in the market. MU showed an intraday change of -3.06% in last session, and over the past year, it grew by 108.17%%.
Data on historical trading for Micron Technology Inc. (NASDAQ:MU) indicates that the trading volumes over the past 10 days have averaged 42.65 million and over the past 3 months, they’ve averaged 20.00 million. According to company’s latest data on outstanding shares, there are 1.11 billion shares outstanding.
Nearly 0.67% of Micron Technology Inc.’s shares belong to company insiders and institutional investors own 82.05% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 20.75 million shares as on Mar 15, 2024, resulting in a short ratio of 1.17. According to the data, the short interest in Micron Technology Inc. (MU) stood at 1.87% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 20.43 million. The stock has risen by 45.41% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MU stock heading into the next quarter.
