Micron Technology Inc. (NASDAQ: MU) kicked off on November 20, 2023, at the price of $77.34, up 1.37% from the previous trading day. During the day, the shares moved up to $78.905 and dropped to $77.13 before settling in for the closing price of $77.56. Over the past 52 weeks, MU has traded in a range of $48.43-$77.94.
A company in the Technology sector has dropped its sales by -11.52% annually for the last half of the decade. While this was happening, its average annual earnings per share was recorded 64.38%. With a float of $1.09 billion, this company’s outstanding shares have now reached $1.10 billion.
In an organization with 43000 employees, it is important to assess its efficiency. In terms of profitability, gross margin is -7.43, operating margin of -33.39, and the pretax margin is -36.41.
Micron Technology Inc. (MU) Insider Updates
Our next focus will be how large-scale investors are participating in this stock of the Semiconductors Industry. The insider ownership of Micron Technology Inc. is 0.68%, while institutional ownership is 82.20%. The most recent insider transaction that took place on Nov 14, was worth 1,692,675. In this transaction CEO and President of this company sold 22,000 shares at a rate of $76.94, taking the stock ownership to the 748,759 shares. Before that another transaction happened on Nov 07, when Company’s CEO and President sold 7,000 for $72.66, making the entire transaction worth $508,620. This insider now owns 695,437 shares in total.
Micron Technology Inc. (MU) Performance Highlights and Predictions
In the latest quarterly report, which was put into the public domain on 8/30/2023, the organization reported -$1.07 earnings per share (EPS), higher than consensus estimate (set at -$1.18) by $0.11. This company achieved a net margin of -37.54 while generating a return on equity of -12.41. Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.71 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 64.38% per share during the next fiscal year.
Micron Technology Inc. (NASDAQ: MU) Trading Performance Indicators
Take a look at Micron Technology Inc.’s (MU) current performance indicators. Last quarter, stock had a quick ratio of 2.70. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 5.56.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -5.34, a number that is poised to hit -1.04 in the next quarter and is forecasted to reach 5.38 in one year’s time.
Technical Analysis of Micron Technology Inc. (MU)
Let’s dig in a bit further. During the last 5-days, its volume was 11.34 million. That was inferior than the volume of 15.25 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 91.87%. Additionally, its Average True Range was 1.91.
During the past 100 days, Micron Technology Inc.’s (MU) raw stochastic average was set at 98.45%, which indicates a significant increase from 97.61% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 22.03% in the past 14 days, which was lower than the 29.38% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $70.14, while its 200-day Moving Average is $65.13. However, in the short run, Micron Technology Inc.’s stock first resistance to watch stands at $79.31. Second resistance stands at $79.99. The third major resistance level sits at $81.08. If the price goes on to break the first support level at $77.53, it is likely to go to the next support level at $76.44. Assuming the price breaks the second support level, the third support level stands at $75.76.
Micron Technology Inc. (NASDAQ: MU) Key Stats
The company with the Market Capitalisation of 86.33 billion has total of 1,098,034K Shares Outstanding. Its annual sales at the moment are 15,540 M in contrast with the sum of -5,833 M annual income. Company’s last quarter sales were recorded 4,010 M and last quarter income was -1,430 M.