Micron Technology Inc. (NASDAQ:MU) shares traded -7.96% lower at $88.58 on Wall Street last session.
MU stock price is now -21.96% away from the 50-day moving average and -14.98% away from the 200-day moving average. The market capitalization of the company currently stands at $98.22B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $150 to $140, Needham maintained Buy rating for Micron Technology Inc. (NASDAQ: MU). On June 27, 2024, TD Cowen reiterated its ‘Buy’ rating on the stock by increasing its target price from $150 to quote $160, while ‘Needham’ rates the stock as ‘Buy’
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 $12.61 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 $63.69 million. A total of 0.38% of the company’s stock is owned by insiders.
During the past 12 months, Micron Technology Inc. has had a low of $63.83 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 $112.4868 and a two-hundred day moving average price translates $104.24945 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.
