TD Cowen has recently reiterated Micron Technology Inc (MU) stock to Buy rating, as announced on December 19, 2024, according to Finviz. Earlier, on December 19, 2024, Needham had reiterated the stock to Buy, setting a price target of $120 for MU stock. BofA Securities also reduced Neutral rating with a price target of $110. Additionally, China Renaissance initiated Buy rating on October 28, 2024, with a target price of $148. TD Cowen analysts, in their report published on September 26, 2024, also reiterated Buy rating and set a price target of $135 for Micron Technology Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Micron Technology Inc (MU) Stock Trading Recap
On Tuesday, Micron Technology Inc (MU) stock saw a modest uptick, ending the day at $97.36 which represents a slight increase of $2.30 or 2.42% from the prior close of $95.06. The stock opened at $97.05 and touched a low of $95.38 during the day, reaching a high of $97.41. The volume of shares traded was 18.58 million falling short of the average volume of 21.62 million.
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MU Stock Performance and Moving Averages
In recent trading, Micron Technology Inc (MU) stock price has shown some volatility, fluctuating -1.91% over the last five trades and -4.60% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -25.61%, and it has plunged by -8.94% in the previous three months. Currently, MU is trading at 2.65%, -1.76%, and -11.61% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, MU, a Technology sector stock, is trading -38.20% below its 52-week high but remains 23.01% above its 52-week low. The Average True Range (ATR) (14 days) of 4.94 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Micron Technology Inc’s Profitability and Valuation Ratios
Micron Technology Inc’s profitability metrics reveal financial health. The company currently boasts an operating margin of 15.02% and a profit margin of 13.34%, with a gross margin of -25.61%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Micron Technology Inc’s market capitalization stands at $108.48 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 28.12, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 8.61. Additionally, the Price-to-Sales Ratio is 3.73, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 2.32, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.41% of Micron Technology Inc (MU)’s shares, while financial institutions hold 77.75%.
Notable insider trades include ALLEN SCOTT R., CVP, Chief Accounting Officer at Micron Technology Inc (MU), who sold 5000 shares on Jan 07 ’25, at $101.76 each, totaling $0.51 million. On Dec 20 ’24, ARNZEN APRIL S, EVP and Chief People Officer, sold 4890 shares for $85.21 each, amounting to $0.42 million. Additionally, on Oct 21 ’24, Bokan Michael W sold 10000 shares at $109.03 each, generating $1.09 million.