Micron Technology Inc.’s recent filing unveils that its CEO and President MEHROTRA SANJAY unloaded Company’s shares for reported $0.84 million on Apr 16 ’24. In the deal valued at $120.70 per share,7,000 shares were sold. As a result of this transaction, MEHROTRA SANJAY now holds 719,049 shares worth roughly $78.46 million.
Then, MEHROTRA SANJAY sold 7,000 shares, generating $858,171 in total proceeds. Upon selling the shares at $122.60, the CEO and President now owns 728,557 shares.
Before that, MEHROTRA SANJAY sold 45,000 shares. Micron Technology Inc. shares valued at $5,850,000 were divested by the CEO and President at a price of $130.00 per share. As a result of the transaction, MEHROTRA SANJAY now holds 728,557 shares, worth roughly $79.5 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 jump 2.20% to $109.12. Over the last five days, the stock has lost -10.09%. Micron Technology Inc. shares have risen nearly 27.87% since the year began. Nevertheless, the stocks have risen 77.55% over the past one year. While a 52-week high of $130.54 was reached on 04/04/24, a 52-week low of $58.03 was recorded on 02/20/24. SMA at 50 days reached $102.90, while 200 days put it at $80.81. A total of 18.93 million shares were traded, compared to the trading of 33.79 million shares in the previous session.
Levels Of Support And Resistance For MU Stock
The 24-hour chart illustrates a support level at 107.09, which if violated will result in even more drops to 105.06. On the upside, there is a resistance level at 110.69. A further resistance level may holdings at 112.26. The Relative Strength Index (RSI) on the 14-day chart is 44.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -10.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.30%. Stochastics %K at 6.76% indicates the stock is a buying.
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.
