The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Micron Technology Inc. shares valued at $893,618 were sold by MEHROTRA SANJAY on May 21 ’24. At $127.66 per share, MEHROTRA SANJAY sold 7,000 shares. The insider’s holdings dropped to 719,049 shares worth approximately $90.79 million following the completion of this transaction.
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Also, Bokan Michael W sold 15,000 shares, netting a total of over 1,851,300 in proceeds. Following the sale of shares at $123.42 each, the insider now holds 138,387 shares.
Before that, MEHROTRA SANJAY had sold 7,000 shares from its account. In a trade valued at $860,209, the CEO and President traded Micron Technology Inc. shares for $122.89 each. Upon closing the transaction, the insider’s holdings decreased to 7,000 shares, worth approximately $90.79 million.
As published in a research note from Morgan Stanley on May 20, 2024, Micron Technology Inc. [MU] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $130 from $98. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in early May. As of April 08, 2024, KeyBanc Capital Markets has reiterated its “an Overweight” rating for MU. Earlier on March 21, 2024, Fox Advisors upgraded its rating. Their new recommendation was “an Overweight” for MU stock which previously was a “an Equal weight”.
Analyzing MU Stock Performance
During the last five days, there has been a drop of approximately -1.27%. Over the course of the year, Micron Technology Inc. shares have jumped approximately 47.96%. Shares of the company reached a 52-week high of $131.95 on 05/23/24 and a 52-week low of $79.15 on 02/20/24. A 50-day SMA is recorded $116.80, while a 200-day SMA reached $86.90. Nevertheless, trading volume fell to 20.27 million shares from 11.19 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 123.30, which, if violated, would cause prices to drop to 120.34. In the upper region, resistance lies at 130.59. The next price resistance is at 134.92. RSI (Relative Strength Index) is 60.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.71, which suggests the price will increase in the coming days. Percent R is at 39.15%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
