In yesterday’s Wall Street session, Micron Technology Inc. (NASDAQ:MU) shares traded at $106.39, down -1.41% from the previous session.
MU stock price is now 7.00% away from the 50-day moving average and -1.49% away from the 200-day moving average. The market capitalization of the company currently stands at $117.96B.
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With the price target of $148, China Renaissance recently initiated with Buy rating for Micron Technology Inc. (NASDAQ: MU). On September 26, 2024, TD Cowen reiterated its ‘Buy’ rating on the stock by increasing its target price from $115 to quote $135, while ‘Wells Fargo’ rates the stock as ‘Overweight’
In other news, Bokan Michael W, SVP, Worldwide Sales sold 10,000 shares of the company’s stock on Oct 21 ’24. The stock was sold for $1,090,300 at an average price of $109.03. Upon completion of the transaction, the SVP, Worldwide Sales now directly owns 179,032 shares in the company, valued at $19.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 21 ’24, Officer MICHAEL W. BOKAN bought 10,000 shares of the business’s stock. A total of $1,090,310 was incurred on buying the stock at an average price of $109.03. A total of 0.44% of the company’s stock is owned by insiders.
During the past 12 months, Micron Technology Inc. has had a low of $63.88 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. According to the stock market information, the enterprise value for the company is $123931131904, which is based on a 157.83 price-to-earnings ratio, a 9.23 price-to-earnings-growth ratio, and a beta of 1.17. The fifty day moving average price for MU is $99.4274 and a two-hundred day moving average price translates $108.0041 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.
