Micron Technology, Inc. Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Micron Technology, Inc. is a prominent semiconductor manufacturer based in Boise, Idaho, specializing in memory and storage products. Since its inception in 1978, Micron has grown to deliver high-speed data retrieval solutions, including dynamic random access memory (DRAM) and non-volatile storage devices, marketed primarily under the Micron and Crucial brands. With $21.37 billion in total revenue, the company operates across various business segments, including Compute and Networking, Mobile, Embedded, and Storage, catering to sectors like cloud servers, enterprise, consumer markets, and automotive industries. Following its stock market debut in 1994, Micron has employed a robust marketing strategy utilizing direct sales, independent representatives, and an online channel to enhance its market position.
Market Analysis and Investment Sentiment
The semiconductor sector is currently characterized by strong growth potential, driven by the increasing integration of technology in consumer electronics and automotive applications. Micron’s share price is currently $90.90, notably below the analysts’ target high of $427.13, which implies significant upside potential. The target mean price is set at $158.18, suggesting a moderately bullish outlook. With approximately 1.11 billion shares outstanding and 35.98 million shares shorted, the short interest represents a modest 3.25% of the float, indicating balanced investor sentiment amidst speculative positioning.
Trading Metrics and Performance Insights
Micron’s trading performance reveals a significant gap between its current price and the 52-week high of $157.54, reflecting a recent downward trend. The stock’s current price sits 9.76% below its 50-day moving average of $100.56, which may signal bearish sentiment and challenges in maintaining upward momentum. The stock’s volatility is further evidenced by the 52-week range, with a low of $63.83. Analysts maintain a positive sentiment toward Micron, as reflected by a recommendation mean score of 1.8 based on 30 opinions, reinforcing a “buy” recommendation amidst strong revenue performance. Investors are advised to consider this opportunity as the semiconductor market continues to evolve with increasing demand for advanced computing solutions.
| Metric | Value |
|---|---|
| Market Cap | $100.8b |
| Total Debt | $13.9b |
| Total Cash | $8.4b |
| Shares Outstanding | 1.1b |
| Float Shares | 1.1b |
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