On September 19, 2023, Toshiya Hari, an analyst at Goldman Sachs, expressed his positive outlook on Micron Technology (NASDAQ:MU) by maintaining a Buy rating and increasing the price target from $80 to $85. This adjustment comes after the previous price target of $70 was raised to $80 earlier in June 2023. It is worth noting that the average price target for Micron Technology stands at $76.38, with a high forecast of $135 and a low estimate of $45.
Micron Technology currently boasts a market capitalization of $73.01 billion, with 1.09 billion shares outstanding. The stock has garnered a consensus rating of Buy, further reinforcing its positive sentiment among investors.
Micron Technology, Inc.
Updated on: 06/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
8:00 PM (UTC)
Date:06 December, 2023
|Analyst / firm||Rating|
Analyzing Micron Technologys Stock Performance and Factors Influencing its Volatility on September 19, 2023
On September 19, 2023, Micron Technology (MU) stock experienced a day of mixed performance. Let’s take a closer look at the stock’s movements and the factors that may have influenced its performance.
Starting with the previous day’s close of $70.50, MU stock opened slightly higher at $70.64. Throughout the day, the stock’s price fluctuated within a range of $69.92 to $71.04.
In terms of trading volume, 70 shares were traded on September 19th. This is significantly lower than the average volume of 15,614,318 shares over the past three months.
Micron Technology currently has a market capitalization of $76.5 billion.
Looking at the company’s earnings growth, Micron Technology experienced a significant increase of 49.28% in the previous year. However, the earnings growth for the current year is -154.70%.
Furthermore, the projected earnings growth for the next five years is -8.31%.
On the revenue front, Micron Technology saw a positive growth of 11.02% in the previous year.
When it comes to valuation metrics, Micron Technology’s price-to-sales ratio is 2.09, and the price-to-book ratio is 1.57.
In terms of sector and industry, Micron Technology operates in the Electronic Technology sector and the Semiconductors industry.
Looking ahead, the next reporting date for Micron Technology is set for September 28, 2023. Analysts are forecasting an earnings per share (EPS) of -$1.17 for the current quarter.
In summary, Micron Technology’s stock performance on September 19, 2023, was marked by volatility and mixed results. While the stock opened slightly higher, it experienced fluctuations throughout the day. The company’s earnings growth for the current year and the next five years is projected to be negative. However, positive revenue growth and relatively low valuation metrics could provide some support for the stock.
Promising Performance and Positive Sentiment: Micron Technology Inc (MU) Stock Analysis and Forecast for September 2023
On September 19, 2023, Micron Technology Inc (MU) stock showed promising performance based on the information provided by CNN Money. The 31 analysts who offered 12-month price forecasts for MU had a median target of $80.00, with a high estimate of $108.76 and a low estimate of $46.00. This indicates a potential increase of 13.48% from the last recorded price of $70.50.
Furthermore, a consensus among 37 polled investment analysts recommended buying MU stock. This rating has remained unchanged since September, indicating a consistent positive sentiment towards the company.
Looking at the recent financials, Micron Technology Inc reported an earnings per share of -$1.17 for the current quarter. While this may seem concerning, it is important to note that earnings per share can fluctuate and are influenced by various factors. Additionally, the company reported sales of $3.9 billion, indicating a strong revenue stream.
Investors can look forward to the upcoming reporting date of September 28, which will provide further insights into Micron Technology Inc’s financial performance.