The stock of Micron Technology Inc. (NASDAQ:MU) last traded at $129.00, up 2.96% from the previous session.
MU stock price is now 12.87% away from the 50-day moving average and 50.46% away from the 200-day moving average. The market capitalization of the company currently stands at $142.85B.
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With the price target enhanced from $98 to $130, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Micron Technology Inc. (NASDAQ: MU). On May 06, 2024, Robert W. Baird Upgraded its previous ‘Neutral’ rating to ‘Outperform’ on the stock increasing its target price from $115 to quote $150, while ‘KeyBanc Capital Markets’ rates the stock as ‘Overweight’
In other news, Bokan Michael W, SVP, Worldwide Sales sold 15,000 shares of the company’s stock on May 14 ’24. The stock was sold for $1,851,300 at an average price of $123.42. Upon completion of the transaction, the SVP, Worldwide Sales now directly owns 138,387 shares in the company, valued at $17.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 14 ’24, CEO and President MEHROTRA SANJAY sold 7,000 shares of the business’s stock. A total of $860,209 was realized by selling the stock at an average price of $122.89. This leaves the insider owning 719,049 shares of the company worth $92.76 million. A total of 0.62% of the company’s stock is owned by insiders.
During the past 12 months, Micron Technology Inc. has had a low of $60.50 and a high of $130.54. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 3.74, and a quick ratio of 2.40.
The net profit margin was -20.57% and return on equity was -8.27% for MU. The company reported revenue of $5.82 billion for the quarter, compared to $3.69 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.7 percent.
