NASDAQ:MU

Micron Technology (MU) Stock Forecast, Price & News

$66.70

-0.95 (-1.40%)

(As of 08/9/2023 ET)

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Today's Range: $66.62
▼
$67.97
50-Day Range: $60.65
▼
$71.39
52-Week Range: $48.43
▼
$74.77

Volume: 10.04 million shs
Average Volume: 16.33 million shs
Market Capitalization: $73.06 billion

P/E Ratio: N/A
Dividend Yield: 0.69%
Price Target: $73.43

Micron Technology MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.73 Rating Score
Upside/Downside: 10.1% Upside
$73.43 Price Target
Short Interest: Healthy
1.84% of Float Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: -2.40
Upright™ Environmental Score
News Sentiment: 0.60
Based on 15 Articles This Week
Insider Trading: Selling Shares
$9.86 M Sold Last Quarter
Proj. Earnings Growth: Growing
From ($5.07) to ($2.12) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.01 out of 5 stars

Computer And Technology Sector

484th out of 602 stocks

Semiconductors & Related Devices Industry

76th out of 86 stocks

3.4

Analyst's Opinion

Consensus Rating
Micron Technology has received a consensus rating of Moderate Buy. The company's average rating score is 2.73, and is based on 23 buy ratings, 6 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $73.43, Micron Technology has a forecasted upside of 10.1% from its current price of $66.70.
Amount of Analyst Coverage
Micron Technology has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
1.84% of the float of Micron Technology has been sold short.
Short Interest Ratio / Days to Cover
Micron Technology has a short interest ratio ("days to cover") of 1.2, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Micron Technology has recently increased by 6.94%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Micron Technology has a dividend yield of 0.66%, which is in the bottom 25% of all stocks that pay dividends.
Dividend Growth
Micron Technology has only been increasing its dividend for 2 years.

1.3

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Micron Technology has received a -36.94% net impact score from Upright. The largest negative impact of Micron Technology in category "GHG emissions" seems to be driven mostly by its "Memory chips", "Flash memory", and "Hard drives" products. See details.
Environmental Sustainability
The Environmental Impact score for Micron Technology is -2.40.

2.0

News and Social Media Coverage

News Sentiment
Micron Technology has a news sentiment score of 0.60. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.46 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 15 news articles for Micron Technology this week, compared to 16 articles on an average week.
Search Interest
Only 136 people have searched for MU on MarketBeat in the last 30 days. This is a decrease of -29% compared to the previous 30 days.
MarketBeat Follows
Only 19 people have added Micron Technology to their MarketBeat watchlist in the last 30 days. This is a decrease of -61% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Micron Technology insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $9,855,860.00 in company stock.
Percentage Held by Insiders
Only 0.32% of the stock of Micron Technology is held by insiders.
Percentage Held by Institutions
80.27% of the stock of Micron Technology is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Micron Technology are expected to grow in the coming year, from ($5.07) to ($2.12) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Micron Technology is -24.89, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Micron Technology is -24.89, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Micron Technology has a P/B Ratio of 1.47. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Micron Technology (NASDAQ:MU) Stock

Micron Technology, Inc. was founded in 1978 by four friends in the basement of a dentist's office. The company was focused on making DRAM memory chips and began work on its first fabrication plant in 1981. Micron Technology came out with its first product a few years later and made history with the world's smallest DRAM microchip. By 1994 the company had earned a spot on the Fortune 500 and soon grew to be a leader in the microchip industry. Micron Technology went public in 1984 as well and is headquartered in Boise, Idaho.

Among Micron’s many achievements are the first 1-gigabyte DRAM product in 1987 and the shipping of the first 2-gigabyte NAND product in 2004. Among the latest innovations is the DDR5. The DDR5 is the next generation of DRAM chip for the server market and it can provide an 85% increase in the memory performance.

Today, Micron Technologies designs, manufactures, and sells memory and storage-focused microchip products worldwide. Its chips provide not only the power to store information but the foundation for new technologies like AI and 5G. Micron is the 4th largest semiconductor manufacturer in the world with revenue topping $27 billion in 2022. The company is ranked 127th on the Fortune 500 list and counts more than 50,000 patents and growing in the field of semiconductor manufacturing and storage solutions. The company operates in 17 countries with 11 manufacturing sites and employs more than 45,000 people.

The company operates through four segments that include Compute and Networking, Mobile, Storage, and Embedded. These solutions are marketed under the Micron and Crucial brands, as well as through private labels. In regard to the memory chip market, Micron Technologies is the only company offering all three types of memory storage products giving it the broadest portfolio and most experience and seamless interfaces.

The company manufactures memory and storage technologies including DRAM, NAND, and NOR microchips. The DRAM products are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval. The NAND products are non-volatile and re-writeable semiconductor storage devices The NOR memory products are non-volatile re-writeable semiconductor memory devices that provide fast read speeds.

Micron Technologies memory products are in demand by industries ranging from the cloud server to enterprise, client, graphics, and networking markets, as well as for smartphone and other mobile-device markets including EVs and self-driving cars.

Among the more visible of Micron Technologies products are its line of SSDs and component-level solutions for the enterprise and cloud, client, and consumer storage markets. Often seen in movies and TV, these small-sized memory storage and transport devices can be as small as a key fob.

MU Price History

30 days | 90 days | 365 days | Advanced Chart

MU Stock News Headlines

July 11, 2023 | marketbeat.com

Is Samsung's Warning Of A Chip Glut Hurting DRAM Maker Micron? (MU)

Amid a chip glut and weakening demand, Samsung Electronics foresees a sharp 96% profit decline in Q2. Shares of S&P 500 DRAM maker Micron are also struggling.

August 9, 2023 | finance.yahoo.com

Biden to Limit Investments in China. Watch Private Equity.

August 10, 2023 | Chaikin Analytics (Ad)

"This Could be the Biggest Stock Story of 2023"

A.I. is set to create $7 trillion in new wealth but most investors are buying the wrong stocks. Learn what Wall Street insiders are buying here.

August 8, 2023 | msn.com

Micron And Intel Collaborate On CZ120 Memory Modules: 'Advancing The Adoption Of CXL Memory'

August 7, 2023 | seekingalpha.com

Micron Technology, Inc. (MU) KeyBanc Technology Leadership Forum Conference (Transcript)

August 7, 2023 | finance.yahoo.com

Micron Launches Memory Expansion Module Portfolio to Accelerate CXL 2.0 Adoption

August 7, 2023 | seekingalpha.com

Micron: Slower Recovery, But Nothing Far From A Buy

August 5, 2023 | americanbankingnews.com

Micron Technology, Inc. (NASDAQ:MU) EVP Sumit Sadana Sells 42,667 Shares of Stock

August 10, 2023 | Behind the Markets (Ad)

[BREAKING] New "Living Missile" to Replace Nuclear Missiles

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

August 4, 2023 | finance.yahoo.com

Applied Materials works to bring global suppliers to India

August 3, 2023 | msn.com

Micron’s unmatched environmental impact at Clay chip fabs doubles in latest estimates

August 3, 2023 | finance.yahoo.com

1 Cheap AI Stock to Buy Right Now Before It Sets the Market on Fire

August 3, 2023 | americanbankingnews.com

Micron Technology, Inc. (NASDAQ:MU) EVP Scott J. Deboer Sells 20,000 Shares of Stock

August 1, 2023 | finance.yahoo.com

Micron, MOST Announce Opening of ‘DECONSTRUCTED: Semiconductors and Other Secrets Inside Everyday Technology’

July 31, 2023 | americanbankingnews.com

Brokerages Set Micron Technology, Inc. (NASDAQ:MU) PT at $73.43

July 26, 2023 | finance.yahoo.com

Micron Delivers Industry’s Fastest, Highest-Capacity HBM to Advance Generative AI Innovation

July 26, 2023 | finance.yahoo.com

Data Storage Micron Technology Stock Getting Closer To Key Technical Measure

July 25, 2023 | finance.yahoo.com

Chip Heavyweight Hynix’s Revenue Beats as AI Lifts Memory Demand

July 24, 2023 | seekingalpha.com

Micron: 5 Reasons To Sell

July 24, 2023 | finance.yahoo.com

C-Suite Salaries Are Now Subject to Cuts, as a Popular Pandemic Practice Persists

July 20, 2023 | msn.com

Wolfe Research Initiates Coverage of Micron Technology (MU) with Outperform Recommendation

July 20, 2023 | seekingalpha.com

Micron Losing Ground In DRAM In HBM And 128GB DDR5

July 19, 2023 | finance.yahoo.com

China's Washington envoy warns of retaliation against further US tech curbs

July 17, 2023 | seekingalpha.com

Micron: The Bottom Of A Deep Hole

July 16, 2023 | thestreet.com

Micron Technology (MU) Stock Falls on Report That Samsung Will Supply Chips for New Apple iPhone

July 14, 2023 | thestreet.com

Micron (MU) Stock Climbs on Morgan Stanley Upgrade

July 13, 2023 | finance.yahoo.com

This Memory Semiconductor Stock Can Benefit From Nvidia's AI Demand

See More Headlines

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MU Company Calendar

Last Earnings: 6/28/2023
Ex-Dividend for 7/25 Dividend: 7/07/2023
Dividend Payable: 7/25/2023
Today: 8/09/2023
Fiscal Year End: 8/31/2023
Next Earnings (Estimated): 10/05/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Semiconductors & related devices
Sub-Industry: Semiconductors
Sector: Computer and Technology
Current Symbol: NASDAQ:MU
CUSIP: 59511210
CIK: 723125
Web: www.micron.com
Phone: (208) 368-4000
Fax: 208-368-4435
Employees: 48,000
Year Founded: 1978

Price Target and Rating

Average Stock Price Forecast: $73.43
High Stock Price Forecast: $100.00
Low Stock Price Forecast: $46.00
Forecasted Upside/Downside: +10.1%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.73
Research Coverage: 30 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($2.68)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $8.69 billion
Net Margins: -16.02%
Pretax Margin: -14.57%
Return on Equity: -5.40%
Return on Assets: -3.89%

Debt

Debt-to-Equity Ratio: 0.29
Current Ratio: 4.26
Quick Ratio: 2.64

Sales & Book Value

Annual Sales: $30.76 billion
Price / Sales: 2.38
Cash Flow: $14.07 per share
Price / Cash Flow: 4.74
Book Value: $45.24 per share
Price / Book: 1.47

Miscellaneous

Outstanding Shares: 1,095,300,000
Free Float: 1,091,797,000
Market Cap: $73.06 billion
Optionable: Optionable
Beta: 1.35

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Key Executives

Mr. Sanjay Mehrotra (Age 64)
CEO, Pres & Director
Comp: $5.34M

Mr. Mark J. Murphy (Age 55)
Exec. VP & CFO
Comp: $943.08k

Mr. Manish H. Bhatia (Age 51)
Exec. VP of Global Operations
Comp: $10.52M

Dr. Scott J. DeBoer (Age 57)
Exec. VP of Technology & Products
Comp: $1.34M

Mr. Michael W. Bokan (Age 62)
Sr. VP of Worldwide Sales
Comp: $1.12M

Mr. Sumit Sadana (Age 54)
Exec. VP & Chief Bus. Officer
Comp: $1.85M

Mr. Scott R. Allen (Age 55)
Corp. VP & Chief Accounting Officer

Mr. Anand Bahl
Corp. VP & Chief Information Officer

Mr. Farhan Ahmad
VP of Investor Relations

Ms. Courtney C. Geduldig J.D. (Age 47)
Corp. VP of Public Affairs

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

MU Stock - Frequently Asked Questions

Should I buy or sell Micron Technology stock right now?: 30 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Micron Technology in the last year. There are currently 1 sell rating, 6 hold ratings and 23 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" MU shares.
View MU analyst ratings or view top-rated stocks.
What is Micron Technology's stock price forecast for 2023?: 30 Wall Street analysts have issued 12-month price targets for Micron Technology's stock. Their MU share price forecasts range from $46.00 to $100.00. On average, they anticipate the company's stock price to reach $73.43 in the next twelve months. This suggests a possible upside of 10.1% from the stock's current price.
View analysts price targets for MU or view top-rated stocks among Wall Street analysts.
How have MU shares performed in 2023?: Micron Technology's stock was trading at $49.98 at the beginning of 2023. Since then, MU shares have increased by 33.5% and is now trading at $66.70.
View the best growth stocks for 2023 here.
When is Micron Technology's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, October 5th 2023.
View our MU earnings forecast.
How were Micron Technology's earnings last quarter?: Micron Technology, Inc. (NASDAQ:MU) announced its earnings results on Wednesday, June, 28th. The semiconductor manufacturer reported ($1.43) EPS for the quarter, beating analysts' consensus estimates of ($1.61) by $0.18. The semiconductor manufacturer had revenue of $3.75 billion for the quarter, compared to analysts' expectations of $3.65 billion. Micron Technology had a negative net margin of 16.02% and a negative trailing twelve-month return on equity of 5.40%. The company's revenue for the quarter was down 56.6% on a year-over-year basis. During the same quarter last year, the company earned $2.50 earnings per share.
Read the conference call transcript.
How often does Micron Technology pay dividends? What is the dividend yield for Micron Technology?: Micron Technology announced a quarterly dividend on Wednesday, June 28th. Stockholders of record on Monday, July 10th will be given a dividend of $0.115 per share on Tuesday, July 25th. This represents a $0.46 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, July 7th.
Read our dividend analysis for MU.
What ETFs hold Micron Technology's stock?: ETFs with the largest weight of Micron Technology (NASDAQ:MU) stock in their portfolio include First Trust Nasdaq Semiconductor ETF (FTXL), Engine No. 1 Transform Supply Chain ETF (SUPP), Qraft AI-Enhanced Next Value ETF (NVQ), Invesco Dynamic Semiconductors ETF (PSI), Strive U.S. Semiconductor ETF (SHOC), iShares Semiconductor ETF (SOXX), Invesco PHLX Semiconductor ETF (SOXQ) and VanEck Semiconductor ETF (SMH).
Is Micron Technology a good dividend stock?: Micron Technology (NASDAQ:MU) pays an annual dividend of $0.46 per share and currently has a dividend yield of 0.66%.
Read our dividend analysis for MU.
What guidance has Micron Technology issued on next quarter's earnings?: Micron Technology issued an update on its fourth quarter 2023 earnings guidance on Thursday, June, 29th. The company provided EPS guidance of -$1.26--$1.12 for the period, compared to the consensus estimate of -$1.06. The company issued revenue guidance of $3.70 billion-$4.10 billion, compared to the consensus revenue estimate of $3.89 billion.

What is Sanjay Mehrotra's approval rating as Micron Technology's CEO?: 669 employees have rated Micron Technology Chief Executive Officer Sanjay Mehrotra on Glassdoor.com. Sanjay Mehrotra has an approval rating of 79% among the company's employees.
What other stocks do shareholders of Micron Technology own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Micron Technology investors own include NVIDIA (NVDA), Alibaba Group (BABA), General Electric (GE), Advanced Micro Devices (AMD), CA (CA), Intel (INTC), Endologix (ELGX), Tesla (TSLA) and Bank of America (BAC).
What is Micron Technology's stock symbol?: Micron Technology trades on the NASDAQ under the ticker symbol "MU."
Who are Micron Technology's major shareholders?: Micron Technology's stock is owned by many different retail and institutional investors. Top institutional shareholders include Bank of New York Mellon Corp (1.14%), Parnassus Investments LLC (0.74%), Bank Julius Baer & Co. Ltd Zurich (0.71%), Jennison Associates LLC (0.58%), Van ECK Associates Corp (0.48%) and Barclays PLC (0.42%). Insiders that own company stock include April S Arnzen, April S Arnzen, David Zinsner, Joel L Poppen, Joel L Poppen, Manish H Bhatia, Michael W Bokan, Richard M Beyer, Robert P Beard, Sanjay Mehrotra, Scott J Deboer, Scott R Allen and Sumit Sadana.
View institutional ownership trends.
How do I buy shares of Micron Technology?: Shares of MU stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Micron Technology's stock price today?: One share of MU stock can currently be purchased for approximately $66.70.
How much money does Micron Technology make?: Micron Technology (NASDAQ:MU) has a market capitalization of $73.06 billion and generates $30.76 billion in revenue each year. The semiconductor manufacturer earns $8.69 billion in net income (profit) each year or ($2.68) on an earnings per share basis.
How many employees does Micron Technology have?: The company employs 48,000 workers across the globe.
Does Micron Technology have any subsidiaries?: The following companies are subsidiares of Micron Technology: Convey Computer, DisplayTech, Elpida Memory, Fwdnxt, IM Flash, Inotera, Lexar, Micron Asia Pacific LLC, Micron Europe Limited, Micron International LLC, Micron Japan Ltd., Micron Memory Japan G.K., Micron Memory Malaysia SD, Micron Memory Taiwan Co. Ltd., Micron Semiconductor (Xi’an) Co. Ltd., Micron Semiconductor Asia LLC, Micron Semiconductor Asia Operations Pte. Ltd., Micron Semiconductor Asia Pte. Ltd., Micron Semiconductor Products Inc., Micron Semiconductor Taiwan Co. Ltd., Micron Technology B.V., Micron Technology Taiwan Inc., Micron Technology Utah LLC, NetFRAME Systems, Numonyx, Photobit Corp., Pico Computing, Rendition Inc., Rexchip Electronics, TiDAL Systems, and VirtenSys.
Read More
How can I contact Micron Technology?: Micron Technology's mailing address is 8000 S FEDERAL WAY, BOISE ID, 83716. The official website for the company is www.micron.com. The semiconductor manufacturer can be reached via phone at (208) 368-4000, via email at investorrelations@micron.com, or via fax at 208-368-4435.

This page (NASDAQ:MU) was last updated on 8/10/2023 by MarketBeat.com Staff

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