After the most recent trading session on Thursday, August 3, Micron Technology, Inc.’s (NASDAQ:$MU) stock has decreased by about 3.96% in the last week. The semiconductor company’s stock closed at $27.83 on Thursday, August 3 with 27.18 million shares traded. Micron currently has a trading capacity of 28.88 million shares with a relative volume of 0.94.

Should You Buy Micron’s Stock?

Compared to the majority of the market, Micron’s stock is relatively cheap. Currently, Micron’s price-earnings ratio is 13.05 times earnings, which is below the market’s average price-earnings ratio of 21.40 times earnings. 11 out of 30 analysts have rated Micron’s stock as a buy. So far, along with other semiconductor companies, Micron has been doing fairly well this year. Since January, Micron’s stock has risen about 30.61%.

When it comes to investing in Micron in the short-term, it should be noted that Micron’s stock has a 5.18% short float with 15 days to cover.

Micron has an Average Target Price of $40

Amongst analysts who are currently reviewing the company, the highest issued price target is currently $75. This is about $31.76 more than the next expected highest 52-week price. The lowest issued price target by analysts is currently $36, which is 12% more than the company’s current stock value.

Average target price for Micron’s stock was $40 when the stock price was actually $13.02 per share. As such, this goes to show how much analysts believe in the future of Micron.

Featured Image: twitter