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Micron Technology Inc. [NASDAQ: MU] Sees Increase in Stock Value

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 $664,355 were sold by ARNZEN APRIL S on Jun 27 ’24. At $135.86 per share, ARNZEN APRIL S sold 4,890 shares. The insider’s holdings dropped to 142,321 shares worth approximately $19.4 million following the completion of this transaction.

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Also, MEHROTRA SANJAY sold 34,284 shares, netting a total of over 5,220,619 in proceeds. Following the sale of shares at $152.28 each, the insider now holds 719,049 shares.

Before that, MEHROTRA SANJAY had sold 30,000 shares from its account. In a trade valued at $4,200,000, the CEO and President traded Micron Technology Inc. shares for $140.00 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $98.0 million.

As published in a research note from TD Cowen on June 27, 2024, Micron Technology Inc. [MU] has been retained to a Buy and the price target has been revised to $160. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late June. As of June 18, 2024, Wedbush has reiterated its “an Outperform” rating for MU. Earlier on June 18, 2024, Stifel resumed its rating. Their recommendation was “a Buy” for MU stock.

Analyzing MU Stock Performance

During the last five days, there has been a drop of approximately -4.26%. Over the course of the year, Micron Technology Inc. shares have jumped approximately 59.70%. Shares of the company reached a 52-week high of $157.54 on 06/18/24 and a 52-week low of $79.15 on 02/20/24. A 50-day SMA is recorded $128.24, while a 200-day SMA reached $96.13. Nevertheless, trading volume fell to 14.5 million shares from 20.78 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 133.89, which, if violated, would cause prices to drop to 130.97. In the upper region, resistance lies at 138.28. The next price resistance is at 139.75. RSI (Relative Strength Index) is 52.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.12, which suggests the price will decrease in the coming days. Percent R is at 68.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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