In yesterday’s Wall Street session, Micron Technology Inc. (NASDAQ:MU) shares traded at $103.71, down -3.53% from the previous session.
MU stock price is now 5.83% away from the 50-day moving average and -1.84% away from the 200-day moving average. The market capitalization of the company currently stands at $115.00B.
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 enhanced from $115 to $135, TD Cowen maintained Buy rating for Micron Technology Inc. (NASDAQ: MU). On September 19, 2024, TD Cowen reiterated its ‘Buy’ rating on the stock by increasing its target price from $160 to quote $115, while ‘Wells Fargo’ rates the stock as ‘Overweight’
In other news, ARNZEN APRIL S, EVP and Chief People Officer sold 4,890 shares of the company’s stock on Sep 26 ’24. The stock was sold for $552,570 at an average price of $113.00. Upon completion of the transaction, the EVP and Chief People Officer now directly owns 135,830 shares in the company, valued at $14.09 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 26 ’24, Officer ARNZEN APRIL S bought 4,890 shares of the business’s stock. A total of $552,570 was incurred on buying the stock at an average price of $113.00. 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 0.31, a current ratio of 2.64, and a quick ratio of 1.68. The fifty day moving average price for MU is $97.7818 and a two-hundred day moving average price translates $105.7814 for the stock.
The latest earnings results from Micron Technology Inc. (NASDAQ: MU) was released for 2024-08-29. The net profit margin was 3.10% and return on equity was 1.74% for MU. The company reported revenue of $7.75 billion for the quarter, compared to $4.01 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 93.27 percent.
