Micron Technology Inc.’s recently made public that its CEO and President MEHROTRA SANJAY unloaded Company’s shares for reported $5.85 million on Apr 04 ’24. In the deal valued at $130.00 per share,45,000 shares were sold. As a result of this transaction, MEHROTRA SANJAY now holds 728,557 shares worth roughly $89.58 million.
Then, MEHROTRA SANJAY sold 7,000 shares, generating $854,665 in total proceeds. Upon selling the shares at $122.09, the CEO and President now owns 743,557 shares.
Before that, ARNZEN APRIL S sold 4,890 shares. Micron Technology Inc. shares valued at $583,377 were divested by the EVP, Chief People Officer at a price of $119.30 per share. As a result of the transaction, ARNZEN APRIL S now holds 148,817 shares, worth roughly $18.3 million.
KeyBanc Capital Markets reiterated its Micron Technology Inc. [MU] rating to an Overweight in a research note published on April 08, 2024; the price target was $150. A number of analysts have revised their coverage, including Fox Advisors’s analysts, who increased its forecast for the stock in late March from “an Equal weight” to “an Overweight”. Argus also remained covering MU and has increased its forecast on March 21, 2024 with a “Buy” recommendation from previously “Hold” rating. TD Cowen maintained its rating on March 21, 2024. It rated MU as “an Outperform”.
Price Performance Review of MU
On Monday, Micron Technology Inc. [NASDAQ:MU] saw its stock fall -0.51% to $122.95. Over the last five days, the stock has lost -1.09%. Micron Technology Inc. shares have risen nearly 44.07% since the year began. Nevertheless, the stocks have risen 115.63% over the past one year. While a 52-week high of $130.54 was reached on 04/04/24, a 52-week low of $56.80 was recorded on 02/20/24. SMA at 50 days reached $96.51, while 200 days put it at $78.13. A total of 27.86 million shares were traded, compared to the trading of 9.99 million shares in the previous session.
Levels Of Support And Resistance For MU Stock
The 24-hour chart illustrates a support level at 120.47, which if violated will result in even more drops to 118.00. On the upside, there is a resistance level at 127.56. A further resistance level may holdings at 132.18. The Relative Strength Index (RSI) on the 14-day chart is 70.63, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.18, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 19.20%. Stochastics %K at 82.29% 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 Mar 15, 2024, growing by 0.32 million shares to a total of 20.75 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 20.43 million shares. There was a rise of 1.54%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.88% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.17.
The most recent change occurred on March 18, 2024 when Cantor Fitzgerald resumed its ‘”an Overweight”‘ rating for the stock and retained the price target to $120.
