Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Micron Technology Inc. shares valued at $844,920 were sold by MEHROTRA SANJAY on Apr 16 ’24. At $120.70 per share, MEHROTRA SANJAY sold 7,000 shares. The insider’s holdings dropped to 719,049 shares worth approximately $80.48 million following the completion of this transaction.
Also, MEHROTRA SANJAY sold 7,000 shares, netting a total of over 858,171 in proceeds. Following the sale of shares at $122.60 each, the insider now holds 728,557 shares.
Before that, MEHROTRA SANJAY had sold 45,000 shares from its account. In a trade valued at $5,850,000, the CEO and President traded Micron Technology Inc. shares for $130.00 each. Upon closing the transaction, the insider’s holdings decreased to 45,000 shares, worth approximately $81.55 million.
As published in a research note from KeyBanc Capital Markets on April 08, 2024, Micron Technology Inc. [MU] has been retained to an Overweight and the price target has been revised to $150. Analysts at Fox Advisors upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late March. As of March 21, 2024, Argus has increased its “Hold” rating to a “Buy” for MU. Earlier on March 21, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for MU stock.
Analyzing MU Stock Performance
During the last five days, there has been a drop of approximately -12.22%. Over the course of the year, Micron Technology Inc. shares have jumped approximately 31.16%. Shares of the company reached a 52-week high of $130.54 on 04/04/24 and a 52-week low of $79.15 on 02/20/24. A 50-day SMA is recorded $101.98, while a 200-day SMA reached $80.35. Nevertheless, trading volume fell to 31.08 million shares from 25.55 million shares the previous day.
Support And Resistance Levels for Micron Technology Inc. (MU)
According to the 24-hour chart, there is a support level at 109.74, which, if violated, would cause prices to drop to 107.54. In the upper region, resistance lies at 115.87. The next price resistance is at 119.81. RSI (Relative Strength Index) is 47.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.60, which suggests the price will decrease in the coming days. Percent R is at 97.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
