Micron Technology Inc. [MU] Investment Appeal on the Rise


In a filing, Micron Technology Inc. revealed its CEO and President MEHROTRA SANJAY unloaded Company’s shares for reported $2.1 million on Aug 31. In the deal valued at $70.00 per share,30,000 shares were sold. As a result of this transaction, MEHROTRA SANJAY now holds 582,862 shares worth roughly $ 40.97 million.

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Then, MEHROTRA SANJAY sold 7,000 shares, generating $463,803 in total proceeds. Upon selling the shares at $66.26, the CEO and President now owns 582,862 shares.

Before that, MEHROTRA SANJAY sold 7,000 shares. Micron Technology Inc. shares valued at $447,518 were divested by the CEO and President at a price of $63.93 per share. As a result of the transaction, MEHROTRA SANJAY now holds 582,862 shares, worth roughly $40.97 million.

Wolfe Research initiated its Micron Technology Inc. [MU] rating to an Outperform in a research note published on Tuesday, July 20, 2023; the price target was $80. PT values the company’s stock at a premium of 12.14 to its Tuesday closing price.

Price Performance Review of MU

On Tuesday, Micron Technology Inc. [NASDAQ:MU] saw its stock fall -0.14% to $70.29. On the same session, the stock had its day’s lowest price of $69.53, but rose to a high of $71.16. Over the last five days, the stock has gained 7.63%. Micron Technology Inc. shares have risen nearly 40.64% since the year began. Nevertheless, the stocks have risen 22.65% over the past one year. While a 52-week high of $74.77 was reached on 05/30/23, a 52-week low of $48.43 was recorded on 01/03/23. SMA at 50 days reached $65.96, while 200 days put it at $61.36. A total of 11.14 million shares were traded, compared to the trading of 10.77 million shares in the previous session.

Levels Of Support And Resistance For MU Stock

The 24-hour chart illustrates a support level at 69.49, which if violated will result in even more drops to 68.70. On the upside, there is a resistance level at 71.12. A further resistance level may holdings at 71.96. The Relative Strength Index (RSI) on the 14-day chart is 62.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 9.25%. Stochastics %K at 95.19% indicates the stock is a selling.

How much short interest is there in Micron Technology Inc.?

A steep rise in short interest was recorded in Micron Technology Inc. stocks on Aug 14, 2023, dropping by 90000.0 shares to a total of 19.95 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 20.04 million shares. There was a decline of -0.45%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.48.

Micron Technology Inc. [MU] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 89,447,129 shares, or roughly 8.17% of the outstanding MU shares. In other words, the investor’s shares have risen by 1,081,779 from its previous 13-F filing of 88365350.0. Additionally, BlackRock Fund Advisors increased 0.72% of its stake after which the total value it holdings stand at $3,969,616,106, while Capital Research & Management Co reduced -27.00% of its stake to hold $3.72 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 282,292 shares of Micron Technology Inc., while PRIMECAP Management Co. bought -935,206 shares. At present, Sanders Capital LLC is holding 22,024,785 shares valued at $1.57 billion. Capital Research & Management Co owned 21,320,648 shares of the company at the time of its most recent 13F filing, worth $1.52 billion.

According to FactSet, Micron Technology Inc.’s share price will average $77.31 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.65 percent from its previous closing price of $70.39. Analysts expect Micron Technology Inc. stock to reach the higher price of $100.00, while the lowest price estimate is $46.00. However, 37 analysts have rated MU stock as an Overweight in their predictions for 2023.


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