In yesterday’s Wall Street session, Micron Technology Inc. (NASDAQ:MU) shares traded at $130.87, down -2.01% from the previous session.
MU stock price is now 0.24% away from the 50-day moving average and 33.51% away from the 200-day moving average. The market capitalization of the company currently stands at $145.11B.
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With the price target enhanced from $150 to $160, TD Cowen maintained Buy rating for Micron Technology Inc. (NASDAQ: MU). On June 27, 2024, Needham reiterated its ‘Buy’ rating on the stock by increasing its target price from $120 to quote $150, while ‘Wedbush’ rates the stock as ‘Outperform’
In other news, ARNZEN APRIL S, EVP and Chief People Officer sold 4,890 shares of the company’s stock on Jun 27 ’24. The stock was sold for $664,355 at an average price of $135.86. Upon completion of the transaction, the EVP and Chief People Officer now directly owns 142,321 shares in the company, valued at $18.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 18 ’24, CEO and President MEHROTRA SANJAY sold 34,284 shares of the business’s stock. A total of $5,220,619 was realized by selling the stock at an average price of $152.28. This leaves the insider owning 719,049 shares of the company worth $94.1 million. A total of 0.49% of the company’s stock is owned by insiders.
During the past 12 months, Micron Technology Inc. has had a low of $61.75 and a high of $157.54. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 3.41, and a quick ratio of 2.16. The fifty day moving average price for MU is $130.5556 and a two-hundred day moving average price translates $98.0209 for the stock.
The latest earnings results from Micron Technology Inc. (NASDAQ: MU) was released for 2024-05-30. The net profit margin was -7.20% and return on equity was -3.43% for MU. The company reported revenue of $6.81 billion for the quarter, compared to $3.75 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 81.53 percent.
