Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Micron Technology Inc. shares valued at $842,208 were sold by MEHROTRA SANJAY on May 07 ’24. At $120.32 per share, MEHROTRA SANJAY sold 7,000 shares. The insider’s holdings dropped to 719,049 shares worth approximately $84.71 million following the completion of this transaction.
Also, BHATIA MANISH H sold 53,317 shares, netting a total of over 6,354,320 in proceeds. Following the sale of shares at $119.18 each, the insider now holds 319,119 shares.
Before that, Deboer Scott J had sold 40,000 shares from its account. In a trade valued at $4,412,400, the EVP, Technology & Products traded Micron Technology Inc. shares for $110.31 each. Upon closing the transaction, the insider’s holdings decreased to 40,000 shares, worth approximately $18.69 million.
As published in a research note from Robert W. Baird on May 06, 2024, Micron Technology Inc. [MU] has been rated up from a Neutral to an Outperform and the price target has been revised to $150 from $115. Analysts at KeyBanc Capital Markets resumed the stock at ‘”an Overweight”‘ outlook in a report released in early April. As of March 21, 2024, Fox Advisors has increased its “an Equal weight” rating to a “an Overweight” for MU. Earlier on March 21, 2024, Argus upgraded its rating. Their new recommendation was “a Buy” for MU stock which previously was a “a Hold”.
Analyzing MU Stock Performance
During the last five days, there has been a surge of approximately 4.88%. Over the course of the year, Micron Technology Inc. shares have jumped approximately 38.05%. 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 $110.70, while a 200-day SMA reached $84.09. Nevertheless, trading volume fell to 10.15 million shares from 10.87 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 116.96, which, if violated, would cause prices to drop to 116.10. In the upper region, resistance lies at 119.15. The next price resistance is at 120.48. RSI (Relative Strength Index) is 55.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.47, which suggests the price will increase in the coming days. Percent R is at 24.36%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
