NASDAQ:MU

Micron Technology (MU) Stock Forecast, Price & News

$65.23

-1.83 (-2.73%)

(As of 01:27 PM ET)

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Today's Range: $64.01
▼
$66.52
50-Day Range: $57.02
▼
$73.93
52-Week Range: $48.43
▼
$74.77

Volume: 16.87 million shs
Average Volume: 16.59 million shs
Market Capitalization: $71.17 billion

P/E Ratio: 46.93
Dividend Yield: 0.71%
Price Target: $70.03

Micron Technology MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.71 Rating Score
Upside/Downside: 7.2% Upside
$70.03 Price Target
Short Interest: Healthy
2.41% of Float Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: -2.40
Upright™ Environmental Score
News Sentiment: 0.02
Based on 15 Articles This Week
Insider Trading: Selling Shares
$5.17 M Sold Last Quarter
Proj. Earnings Growth: Growing
From ($5.27) to ($0.59) 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

352nd out of 594 stocks

Semiconductors & Related Devices Industry

54th out of 88 stocks

2.4

Analyst's Opinion

Consensus Rating
Micron Technology has received a consensus rating of Buy. The company's average rating score is 2.71, and is based on 24 buy ratings, 5 hold ratings, and 2 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $70.03, Micron Technology has a forecasted upside of 7.2% from its current price of $65.36.
Amount of Analyst Coverage
Micron Technology has been the subject of 12 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
2.41% 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 1.5, 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 1.35%, indicating that investor sentiment is decreasing.

0.8

Dividend Strength

Dividend Yield
Micron Technology has a dividend yield of 0.68%, 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.
Dividend Coverage
The dividend payout ratio of Micron Technology is 33.09%. This payout ratio is at a healthy, sustainable level, below 75%.

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.

1.7

News and Social Media Coverage

News Sentiment
Micron Technology has a news sentiment score of 0.02. 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 lower news sentiment than the 0.49 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 17 articles on an average week.
Search Interest
140 people have searched for MU on MarketBeat in the last 30 days. This is an increase of 30% compared to the previous 30 days.
MarketBeat Follows
Only 28 people have added Micron Technology to their MarketBeat watchlist in the last 30 days. This is a decrease of -7% 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 $5,170,320.00 in company stock.
Percentage Held by Insiders
Only 0.33% of the stock of Micron Technology is held by insiders.
Percentage Held by Institutions
78.02% of the stock of Micron Technology is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Micron Technology are expected to grow in the coming year, from ($5.27) to ($0.59) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Micron Technology is 47.02, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 132.94.
Price to Earnings Ratio vs. Sector
The P/E ratio of Micron Technology is 47.02, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 299.86.
Price to Book Value per Share Ratio
Micron Technology has a P/B Ratio of 1.44. 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.

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MU Stock News Headlines

May 31, 2023 | marketbeat.com

Micron Technology Sees Chip Recovery by the End of 2023

Memory and storage chip giant Micron Technology Inc. (NYSE: MU) stock has fallen (-46%) in 2022. Dynamic random access memory (DRAM) chip demand has been weak.

May 22, 2023 | marketbeat.com

Will The Breakout in VanEck Semiconductor ETF Continue? (MU)

Last week's breakout in VanEck Semiconductor ETF was nothing short of impressive. Should participants take their foot off the gas or continue to buy?

June 8, 2023 | Edge On The Street (Ad)

New "Mined in America" Lithium Opportunities?

The average electric vehicle needs 138 pounds of lithium carbonate for its battery components. But China currently controls the entire lithium supply chain.

June 8, 2023 | marketwatch.com

Micron in 178-Megawatt Wind Power Pact With Terra-Gen >MU

June 7, 2023 | theglobeandmail.com

Bullish on Micron Technology Inc.

June 7, 2023 | finance.yahoo.com

2 Super Semiconductor Stocks Down 27% and 30% You'll Wish You'd Bought on the Dip

June 7, 2023 | finance.yahoo.com

12 Hot Stocks to Buy According to Hedge Funds

June 7, 2023 | americanbankingnews.com

Micron Technology (NASDAQ:MU) Stock Rating Reaffirmed by VNET Group

June 8, 2023 | Edge On The Street (Ad)

Graphite Shortage Could Derail the $7 Trillion EV Transition

Graphite (not lithium) is expected to see the largest increase in demand of all battery metals over the next decade. But projections warn of an 8 million ton shortfall of graphite by 2040. That's why 97 more graphite mines are needed just to keep up with battery production for the $7 trillion transition to electric vehicles.

June 6, 2023 | seekingalpha.com

Micron: Serious Deterioration Of Fundamentals, More Pain Likely To Come

June 5, 2023 | insidermonkey.com

5 Technology Dividend Stocks Billionaires Are Loading Up On

June 5, 2023 | msn.com

Micron Technology Unusual Options Activity For June 05

June 5, 2023 | finance.yahoo.com

Micron Is the Top Chip Stock Pick Amid AI Hype, Says Analyst

June 3, 2023 | finance.yahoo.com

GOP Lawmakers Ramp Up Calls to Counter China Over Micron Ban

June 2, 2023 | finance.yahoo.com

House lawmakers urge US to rally allies over China Micron ban

June 1, 2023 | finance.yahoo.com

Micron Technology to Report Fiscal Third Quarter Results on June 28, 2023

June 1, 2023 | americanbankingnews.com

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

May 31, 2023 | seekingalpha.com

Micron Technology, Inc. (MU) Presents at Goldman Sachs Global Semiconductor Conference (Transcript)

May 30, 2023 | msn.com

Micron: Good Risk Reward At Current Valuation

May 30, 2023 | finance.yahoo.com

Crucial Unleashes World’s Fastest Gen5 Consumer NVMe SSD and Plug-and-Play High-Performance DRAM Options for Gamers, Creatives and Professionals

May 29, 2023 | msn.com

Micron (NASDAQ:MU): China Ban Under the Microscope

May 29, 2023 | finance.yahoo.com

US 'won't tolerate' China's ban on chipmaker Micron

May 29, 2023 | americanbankingnews.com

Micron Technology (NASDAQ:MU) Price Target Raised to $80.00

May 27, 2023 | reuters.com

U.S. 'won't tolerate' China's ban on Micron chips-Raimondo

May 27, 2023 | finance.yahoo.com

U.S. 'won't tolerate' China's ban on Micron chips, Raimondo says

May 25, 2023 | reuters.com

Micron chip ban in China to be addressed by Biden and top US Senator

May 25, 2023 | finance.yahoo.com

3 Red Flags for Micron Technology's Future

See More Headlines

MU Price History

30 days | 90 days | 365 days | Advanced Chart

MU Company Calendar

Last Earnings: 3/28/2023
Ex-Dividend for 4/25 Dividend: 4/06/2023
Dividend Payable: 4/25/2023
Today: 6/08/2023
Next Earnings (Confirmed): 6/28/2023
Fiscal Year End: 8/31/2023

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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: $70.03
High Stock Price Forecast: $100.00
Low Stock Price Forecast: $45.00
Forecasted Upside/Downside: +7.6%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.71
Research Coverage: 31 Analysts

Profitability

EPS (Most Recent Fiscal Year): $1.39
Trailing P/E Ratio: 46.81
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $8.69 billion
Net Margins: 6.99%
Pretax Margin: 9.08%
Return on Equity: 3.98%
Return on Assets: 2.93%

Debt

Debt-to-Equity Ratio: 0.25
Current Ratio: 4.17
Quick Ratio: 2.62

Sales & Book Value

Annual Sales: $30.76 billion
Price / Sales: 2.31
Cash Flow: $14.11 per share
Price / Cash Flow: 4.61
Book Value: $45.24 per share
Price / Book: 1.44

Miscellaneous

Outstanding Shares: 1,091,000,000
Free Float: 1,087,400,000
Market Cap: $70.99 billion
Optionable: Optionable
Beta: 1.39

Social Links

Key Executives

Sanjay Mehrotra
President, Chief Executive Officer & Director

Manish Bhatia
Executive Vice President-Global Operations

Mark Joseph Murphy
Chief Financial Officer & Executive Vice President

Scott J. DeBoer
Executive Vice President-Technology & Products

Sumit Sadana
Chief Business Officer & Executive Vice President

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?: 31 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Micron Technology in the last year. There are currently 2 sell ratings, 5 hold ratings and 24 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" MU shares.
View MU analyst ratings or view top-rated stocks.
What is Micron Technology's stock price forecast for 2023?: 31 equities research analysts have issued 1 year price objectives for Micron Technology's stock. Their MU share price forecasts range from $45.00 to $100.00. On average, they predict the company's share price to reach $70.03 in the next twelve months. This suggests a possible upside of 7.9% 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 on January 1st, 2023. Since then, MU shares have increased by 29.9% and is now trading at $64.91.
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 Wednesday, June 28th 2023.
View our MU earnings forecast.
How can I listen to Micron Technology's earnings call?: Micron Technology will be holding an earnings conference call on Wednesday, June 28th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link.
How were Micron Technology's earnings last quarter?: Micron Technology, Inc. (NASDAQ:MU) released its quarterly earnings data on Tuesday, March, 28th. The semiconductor manufacturer reported ($1.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by $1.16. The semiconductor manufacturer earned $3.69 billion during the quarter, compared to analysts' expectations of $3.71 billion. Micron Technology had a net margin of 6.99% and a trailing twelve-month return on equity of 3.98%. The company's revenue for the quarter was down 52.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 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 declared a quarterly dividend on Tuesday, March 28th. Investors of record on Monday, April 10th will be given a dividend of $0.115 per share on Tuesday, April 25th. This represents a $0.46 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 6th.
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), Invesco Dynamic Semiconductors ETF (PSI), Strive U.S. Semiconductor ETF (SHOC), VanEck Semiconductor ETF (SMH), iShares Semiconductor ETF (SOXX), Invesco PHLX Semiconductor ETF (SOXQ), Subversive Metaverse ETF (PUNK).SPDR S&P Semiconductor ETF (XSD).
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 0.68%. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 33.09%. This payout ratio is at a healthy, sustainable level, below 75%.
Read our dividend analysis for MU.
What guidance has Micron Technology issued on next quarter's earnings?: Micron Technology updated its third quarter 2023 earnings guidance on Wednesday, March, 29th. The company provided earnings per share guidance of -$1.65--$1.51 for the period, compared to the consensus earnings per share estimate of -$0.90. The company issued revenue guidance of $3.50 billion-$3.90 billion, compared to the consensus revenue estimate of $3.70 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 BlackRock Inc. (7.82%), State Street Corp (4.21%), Sanders Capital LLC (3.56%), Geode Capital Management LLC (1.87%), Price T Rowe Associates Inc. MD (1.61%) and Bank of New York Mellon Corp (1.35%). 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, Paul Marosvari, Richard M Beyer, Robert P Beard, Sanjay Mehrotra, Scott J Deboer 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 $64.91.
How much money does Micron Technology make?: Micron Technology (NASDAQ:MU) has a market capitalization of $70.82 billion and generates $30.76 billion in revenue each year. The semiconductor manufacturer earns $8.69 billion in net income (profit) each year or $1.39 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 6/8/2023 by MarketBeat.com Staff

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