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The Attractiveness of Investing In Micron Technology Inc. (MU) is Growing

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In a filing, Micron Technology Inc. revealed its EVP and Chief Business Officer Sadana Sumit unloaded Company’s shares for reported $1.48 million on May 13 ’24. In the deal valued at $123.01 per share,12,000 shares were sold. As a result of this transaction, Sadana Sumit now holds 218,048 shares worth roughly $26.82 million.

Then, Sadana Sumit sold 34,792 shares, generating $4,194,921 in total proceeds. Upon selling the shares at $120.57, the EVP and Chief Business Officer now owns 230,048 shares.

Before that, Sadana Sumit sold 13,239 shares. Micron Technology Inc. shares valued at $1,572,396 were divested by the EVP and Chief Business Officer at a price of $118.77 per share. As a result of the transaction, Sadana Sumit now holds 260,857 shares, worth roughly $32.09 million.

Robert W. Baird upgraded its Micron Technology Inc. [MU] rating to an Outperform from a a Neutral in a research note published on May 06, 2024; the price target was increased to $150 from $115. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who remained covering the stock and in early April has reiterated a ‘”an Overweight”‘ rating for it. Fox Advisors also remained covering MU and has increased its forecast on March 21, 2024 with a “an Overweight” recommendation from previously “an Equal weight” rating. Argus revised its rating on March 21, 2024. It rated MU as “a Buy” which previously was an “a Hold”.

Price Performance Review of MU

On Monday, Micron Technology Inc. [NASDAQ:MU] saw its stock jump 1.45% to $123.00. Over the last five days, the stock has gained 2.39%. Micron Technology Inc. shares have risen nearly 44.13% since the year began. Nevertheless, the stocks have risen 99.64% over the past one year. While a 52-week high of $130.54 was reached on 04/04/24, a 52-week low of $60.06 was recorded on 02/20/24. SMA at 50 days reached $111.87, while 200 days put it at $84.62. A total of 16.63 million shares were traded, compared to the trading of 13.92 million shares in the previous session.

Levels Of Support And Resistance For MU Stock

The 24-hour chart illustrates a support level at 121.73, which if violated will result in even more drops to 120.46. On the upside, there is a resistance level at 124.19. A further resistance level may holdings at 125.38. The Relative Strength Index (RSI) on the 14-day chart is 62.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.76, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.92%. Stochastics %K at 88.10% indicates the stock is a selling.

The most recent change occurred on March 21, 2024 when TD Cowen resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $150.

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