Micron Technology Inc. (NASDAQ: MU) Is Getting Increasingly Hard To Ignore

Currently, there are 1.11B common shares owned by the public and among those 1.10B shares have been available to trade.

The company’s stock has a 5-day price change of 7.32% and 36.04% over the past three months. MU shares are trading 38.14% year to date (YTD), with the 12-month market performance up to 98.87% higher. It has a 12-month low price of $56.01 and touched a high of $122.46 over the same period. MU has an average intraday trading volume of 18.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.00%, 28.94%, and 54.76% respectively.

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Institutional ownership of Micron Technology Inc. (NASDAQ: MU) shares accounts for 82.14% of the company’s 1.11B shares outstanding.

It has a market capitalization of $130.55B and a beta (3y monthly) value of 1.27. The earnings-per-share (ttm) stands at -$3.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.48% over the week and 3.52% over the month.

Analysts forecast that Micron Technology Inc. (MU) will achieve an EPS of $0.47 for the current quarter, $0.88 for the next quarter and $7.48 for 2025. The lowest estimate earnings-per-share for the quarter is $0.44 while analysts give the company a high EPS estimate of $0.56. Comparatively, EPS for the current quarter was -$1.43 a year ago. Earnings per share for the fiscal year are expected to increase by 115.78%, and 973.14% over the next financial year.

Argus coverage for the Micron Technology Inc. (MU) stock in a research note released on March 21, 2024 offered a Buy rating with a price target of $140. TD Cowen was of a view on March 21, 2024 that the stock is Outperform, while Cantor Fitzgerald gave the stock Overweight rating on March 18, 2024, issuing a price target of $100- $120. Barclays on their part issued Overweight rating on March 18, 2024.

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