Summit Insights raised the price target for the Micron Technology Inc. (NASDAQ:MU) stock from “a Buy” to “a Hold”. The rating was released on July 01, 2021. We previously noted in another research note published on June 30, 2021 by BMO Capital Markets that upgraded the stock from a Market perform to an Outperform with a price target of $110 for MU stock. The stock was resumed by KeyBanc Capital Markets, who disclosed in a research note on May 20, 2021, to Overweight and set the price objective to $115. In their research brief published April 01, 2021, Cowen analysts reiterated the Micron Technology Inc. stock to Outperform with a price target of $105.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Micron Technology Inc. (NASDAQ:MU) dipped -3.53% to close Wednesday’s market session at $78.22, lower as compared to yesterday’s close. The stock price fluctuated between $77.95 and $81.81 throughout the trading session with the volume trading being 22735221 shares, which represented a significant variation when compared to the three months average volume of 19.29 million shares. The firm’s stock price fluctuated -5.68% within the last five trades and -6.93% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 1.24% in the last 6 months and -16.75% was subtracted to its value over the previous 3 months. MU stock is trading at a margin of -2.70%, -4.60% and 4.02% 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 -19.33 percent below its 52-week high and 85.14 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 44.27. 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 $87.48 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 21.59. 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 6.94. 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 3.43 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 2.07, 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 104,280 shares of firm on Jul 06 at a price of $80.42 against the total amount of $8.39 million. In another inside trade, ARNZEN APRIL S, SVP, Chief People Officer of Micron Technology Inc. (NASDAQ:MU) sold 8,300 shares of the firm on Jun 25 for a total worth of $0.68 million at a price of $81.57. An inside trade which took place on Jun 15, SVP & Chief Financial Officer of Micron Technology Inc. Zinsner David sold 8,050 shares of firm against total price of $0.66 million at the cost of $82.19 per share.