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 -7.58% and 10.30% over the past three months. MU shares are trading 16.86% year to date (YTD), with the 12-month market performance up to 43.70% higher. It has a 12-month low price of $67.00 and touched a high of $157.54 over the same period. MU has an average intraday trading volume of 24.04 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 -5.90%, 0.66%, and -7.99% respectively.
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Institutional ownership of Micron Technology Inc (NASDAQ: MU) shares accounts for 80.21% of the company’s 1.11B shares outstanding.
It has a market capitalization of $110.66B and a beta (3y monthly) value of 1.18. The stock’s trailing 12-month PE ratio is 147.95, while the earnings-per-share (ttm) stands at $0.67. The company has a PEG of 8.65 and a Quick Ratio of 1.68 with the debt-to-equity ratio at 0.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.50% over the week and 2.91% over the month.
Earnings per share for the fiscal year are expected to increase by 590.89%, and 42.76% over the next financial year. EPS should grow at an annualized rate of 17.10% over the next five years, compared to -33.89% over the past 5-year period.
Looking at the support for the MU, a number of firms have released research notes about the stock. China Renaissance stated their Buy rating for the stock in a research note on October 28, 2024, with the firm’s price target at $148. TD Cowen coverage for the Micron Technology Inc (MU) stock in a research note released on September 26, 2024 offered a Buy rating with a price target of $135. TD Cowen was of a view on September 19, 2024 that the stock is Buy, while Wells Fargo gave the stock Overweight rating on September 18, 2024, issuing a price target of $190- $175. Morgan Stanley on their part issued Equal-Weight rating on September 16, 2024.
