After this morning's 13.9% surge to $109.61 per share, Micron Technology might just keep moving past its target price of $106.03. With an average analyst rating of buy, and target prices from $42.43 to $150.0, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 2.0%, and a short ratio of 1.57. The company's insiders own 0.29% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 85.2% of Micron Technology's shares being owned by this investor type.
Institutions Invested in Micron Technology
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Vanguard Group Inc | 9% | 94,984,775 | $10,411,755,908 |
| 2023-12-31 | Blackrock Inc. | 8% | 84,985,597 | $9,315,696,033 |
| 2023-12-31 | State Street Corporation | 4% | 45,463,848 | $4,983,519,601 |
| 2023-12-31 | Primecap Management Company | 3% | 37,491,511 | $4,109,631,898 |
| 2023-12-31 | Capital Research Global Investors | 3% | 28,770,957 | $3,153,728,390 |
| 2023-12-31 | FMR, LLC | 2% | 26,767,605 | $2,934,130,964 |
| 2023-12-31 | Sanders Capital, LLC | 2% | 22,583,348 | $2,475,473,642 |
| 2023-12-31 | Geode Capital Management, LLC | 2% | 21,537,914 | $2,360,878,397 |
| 2023-12-31 | Capital World Investors | 2% | 21,348,227 | $2,340,085,857 |
| 2023-12-31 | Wellington Management Group, LLP | 2% | 16,763,607 | $1,837,542,745 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Micron Technology.
