KeyBanc Capital Markets lowered the price target for the Micron Technology Inc. (NASDAQ:MU) stock to “an Overweight”. The rating was released on May 20, 2021. We previously noted in another research note published on April 01, 2021 by Cowen that reiterated the stock to an Outperform with a price target of $105 for MU stock. The research report from Daiwa Securities has initiated the stock to Buy, with a price target set at $140. In their research brief published January 08, 2021, Cowen analysts reiterated the Micron Technology Inc. stock to Outperform with a price target of $90.
Historical Earnings Surprises and Revenue Forecasts
Profit is the most critical financial performance measure. Every investor in a business is looking forward to the earnings report as stock price to increase when earnings exceed market expectations and progressively decrease when earnings do not meet expectations. The firm reported an earnings per share (EPS) of $0.98 during the last quarter as opposed to a consensus estimate of $0.95, which indicates the company beat its estimate by $0.03, which implies that the company surprised the market by 3.20%. It appears that the average earnings per share estimate for the current quarter (ending in May 2021) is $1.64. This is an average of 27 analysts’ earnings, where the high earnings per share estimate is $1.78 and the low earnings per share estimate is $1.6. According to 27 analyst estimates, an average revenue estimate of $7.1B is projected for the current quarter with a high revenue estimate of $7.3B and a low estimate of $6.87B.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Micron Technology Inc. (NASDAQ:MU) raised 2.70% to close Monday’s market session at $82.90, higher as compared to yesterday’s close. The stock price fluctuated between $81.3605 and $83.62 throughout the trading session with the volume trading being 15703056 shares, which represented a significant variation when compared to the three months average volume of 20.95 million shares. The firm’s stock price fluctuated 3.12% within the last five trades and -3.64% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 34.08% in the last 6 months and -6.04% was subtracted to its value over the previous 3 months. MU stock is trading at a margin of -0.07%, -4.82% and 18.52% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, MU deals in the Technology domain. The stock is trading -14.50 percent below its 52-week high and 96.21 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 68.69. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Micron Technology Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
The stock’s market cap achieved a total value of $93.44 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio for Micron Technology Inc. (NASDAQ:MU) is 29.41. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 7.71. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 3.98 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 2.28, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.10 percent of Micron Technology Inc. shares are owned by insiders, and 83.90 percent are held by financial institutions. Sadana Sumit, the EVP, Chief Business Officer at Micron Technology Inc. (MU) has sold 31,490 shares of firm on May 19 at a price of $79.33 against the total amount of $2.5 million. In another inside trade, Zinsner David, SVP & Chief Financial Officer of Micron Technology Inc. (NASDAQ:MU) sold 8,050 shares of the firm on May 17 for a total worth of $0.64 million at a price of $79.40. An inside trade which took place on May 11, SVP, General Counsel&Secretary of Micron Technology Inc. Poppen Joel L sold 4,984 shares of firm against total price of $0.4 million at the cost of $79.66 per share.
How Micron Technology Inc. (MU) Stock Is Sustainable?
To Conclude, the score of Environmental, Social and Governance (ESG) has been traditionally used by investors to measure the actions of corporations and to make their future financial predictions. According to the ESG rating scale, there are five hazard levels in the scale: marginal, weak, moderate, high, and extreme. The next generation ESG score is a scale from 0 to 100 where 100 represents the most extreme situation. The score was designed to assist investors at safety and investment level in identifying and recognizing financially relevant ESG threats. A current assessment of the Micron Technology Inc.’s sustainability factors indicates that it scores at 15 or 15th percentile overall, with an Environment Score of 7 or 7 percentile, a Social Score of 4 or 4 percentile, and a Governance Score of 6 or 6 percentile.