While Micron Technology Inc. has overperformed by 0.33%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MU rose by 94.43%, with highs and lows ranging from $130.54 to $58.03, whereas the simple moving average jumped by 53.07% in the last 200 days.
On April 08, 2024, KeyBanc Capital Markets Reiterated Micron Technology Inc. (NASDAQ: MU) to Overweight. A report published by Fox Advisors on March 21, 2024, Upgraded its rating to ‘Overweight’ for MU. Argus also Upgraded MU shares as ‘Buy’, setting a target price of $140 on the company’s shares in a report dated March 21, 2024. TD Cowen Reiterated the rating as Outperform on March 21, 2024, but set its price target from $120 to $150. Cantor Fitzgerald resumed its ‘Overweight’ rating for MU, as published in its report on March 18, 2024. Barclays’s report from March 18, 2024 suggests a price prediction of $120 for MU shares, giving the stock a ‘Overweight’ rating. TD Cowen also rated the stock as ‘Outperform’.
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 57.70%, 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 -8.27% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.40, 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 21.25M. On a monthly basis, the volatility of the stock is set at 4.28%, whereas on a weekly basis, it is put at 3.74%, with a loss of -0.70% over the past seven days. Furthermore, long-term investors anticipate a median target price of $136.03, showing growth from the present price of $121.77, 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?
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 0.66%. 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 81.99% 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 81.99% at present.
