SVP, WORLDWIDE SALES Thorsen Steven L. Jr sold 40,000 shares in Micron Technology, Inc. (NASDAQ:MU) for $126,990 in transaction occurred on 2018/07/20. After making this transaction, the SVP, WORLDWIDE SALES owns a direct stake of 2,203,600 shares, worth $4,899,274, as per the last closing price. On 2018/07/13 Switz Robert E, Director at MU, dumped 100,000 shares at an average price of $54 per share. The selling total is valued at $1,746,015.
Separately, it had been reported that some other MU insiders also took part of the insider trading activity. Director, Bailey Robert L had divested 3,000 shares for $96,299 through a trade on 2018/06/01. Following this activity, the insider holds 175,470 shares worth $3,715,215 as of recent close. Wall Street’s most bullish Micron Technology, Inc. (NASDAQ:MU) analysts are predicting the share price to blow past $90 per share during the next 12 months. The current median share price forecast by them is $47, suggesting that the stock could increase 21.82% in that time frame. The average price target of $48.48 calls for a nearly 25.66% increase in the stock price.
Micron Technology, Inc. (MU) trading activity significantly weakened as the volume at ready counter decreased to 29,519,688 shares versus 37,334,219 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 36,347,191 shares. The share price rose 0% in recent trade and currently has a stock-market value of $44.15B. The shares finished at $38.58, after trading as low as $37.36 earlier in the session. It hit an intraday high Monday at $38.87. The stock is now 35.89% above against its bear-market low of $28.39 on December 26, 2018. It has retreated -67.6% since it’s 52-week high of $64.66 reached in May. Now the market price is down -3.55% on the year and up 21.59% YTD.
MU’s 50 day simple moving average (SMA 50) price is $35.44 and its 200-day simple moving average (SMA 200) price is $45.66. The company’s stock currently has a total float of 1.07B shares. Its weekly volatility is hovering around 4% and felt 4.31% volatility in price over a month. On the upside, the share price will test short term resistance at around $39.18. On a downside, the stock is likely to find some support, which begins at $37.67. The failure to get near-term support could push it to $36.76.
It had seen a positive analyst call from Bernstein, which upgraded the stock from Mkt Perform to Outperform on January 09. Analysts at RBC Capital Mkts, shed their positive views on December 19 by lowering it fromOutperform to Sector Perform. The stock lost favor of Needham analysts who expressed their lack of confidence in it using a downgrade from Buy to Hold on December 19. Cowen, reiterated their call for Outperform, on December 17. On the other hand, they had set new target price to $45 versus $62.
When looking at valuations, Micron Technology, Inc. (MU) has a cheap P/E of 3.21x as compared to industry average of 4113.29x. Moreover, it trades for 5.81 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.29x price/book and 1.4x price/sales. Compared to others, Micron Technology, Inc. is in a different league with regards to profitability, having net margins of 46.8%. To put some perspective around this, the industry’s average net margin is 20.11%. MU’s ROE is 49%, which is also considerably better than the industry’s ROE of 10.06%. It’s also very liquid in the near term, with a current ratio of 2.9. The stock has a debt/capital of 0.12.
Shares of Micron Technology, Inc. (MU) have gained 13.1% since the company’s last earnings report. Over the past 12 fiscal quarters, Micron Technology, Inc. (NASDAQ:MU) has topped consensus earnings estimates in 11 quarters (91%), missed earnings in 0 quarters (0%), whereas at 1 occasion EPS met analyst expectations. MU last reported earnings on December 18, 2018 when it released Nov-18 results that exceeded expectations. The company raked in $2.97 per share, 343.28% change on the same period last year. That was better than consensus for $2.95. Revenue for the recent quarter stood at $7.91 billion, up 16% on last year and below the $8.01 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $5.07 billion to $7.82 billion, which should be compared with $7.42 billion generated last year. EPS is seen in a range of $0.9 to $2.84, against the $2.34 reported a year ago.