While Micron Technology Inc has underperformed by -4.59%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MU rose by 30.87%, with highs and lows ranging from $157.54 to $76.96, whereas the simple moving average fell by -11.27% in the last 200 days.
On October 28, 2024, China Renaissance started tracking Micron Technology Inc (NASDAQ: MU) recommending Buy. A report published by TD Cowen on September 26, 2024, Reiterated its previous ‘Buy’ rating for MU. TD Cowen also reiterated MU shares as ‘Buy’, quoting a target price of $115 on the company’s shares in a report dated September 19, 2024. Wells Fargo Reiterated the rating as Overweight on September 18, 2024, but set its price target from $190 to $175. Morgan Stanley resumed its ‘Equal-Weight’ rating for MU, as published in its report on September 16, 2024. Exane BNP Paribas’s report from September 12, 2024 suggests a price prediction of $67 for MU shares, giving the stock a ‘Underperform’ rating. Needham also rated the stock as ‘Buy’.
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Analysis of Micron Technology Inc (MU)
The current dividend for MU investors is set at $0.46 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter increase in sales is 93.27%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Micron Technology Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 1.74% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.68, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and MU is recording an average volume of 21.30M. On a monthly basis, the volatility of the stock is set at 3.48%, whereas on a weekly basis, it is put at 4.29%, with a loss of -1.74% over the past seven days. Furthermore, long-term investors anticipate a median target price of $147.25, showing growth from the present price of $98.10, which can serve as yet another indication of whether MU is worth investing in or should be passed over.
How Do You Analyze Micron Technology Inc Shares?
Micron Technology Inc (MU) is based in the USA and is one of the most prominent companies operating in the Semiconductors market. When comparing Micron Technology Inc shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 145.53, there is a growth in quarterly earnings of 160.37%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.41%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 77.76% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
MU shares are owned by institutional investors to the tune of 77.76% at present.
