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Last Price: 116.33 - Change: -5.44 - Change %: -4.4674
04/17/2024 16:14:00 EST

Micron Technology Inc (MU)

Industry: Semiconductors

Price Support Resistance

In the past 20 trading days, MU has been trading in a range between $128.01 and $96.16 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.

MU is trading below resistance at $128.01, about 10% to the upside. There is support at $87.53 -25% to the downside. If it can break above the resistance, it could have some more upside. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.

Upside / Downside Potential

Micron Technology Inc $MU entered a Green zone 39 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $73.98, a potential down side of -36.41% from the recent price of 116.33. Our AI powered stock target predictor currently has a target price of $9.17 a potential move of -92%. The stock is trading 12.22% (potential upside) below its 52 week high of $130.54 and 101.65 % (potential downside) above its 52 week low of $57.69 - based on the recent price.

Company Summary

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit.

MU Website

News

Micron Set to Receive $6.1 Billion in Chips Act Grants
Micron Technology Inc., the largest US maker of computer-memory chips, is poised to get $6.1 billion in grants from the Commerce Department to help pay for domestic factory projects, part of an effort to bring semiconductor production back to American soil. The award, which isn't yet finalized, is slated to be revealed next week, according to people familiar with the matter.
Source: Bloomberg Markets and Finance
Wed, 17 Apr 2024 23:11:43 -0400
Sentiment: Positive
Micron set to get $6 billion in chip grants from US, Bloomberg reports
Micron Technology Inc is set to get more than $6 billion in grants from the U.S. Commerce Department to help pay for domestic chip factory projects, Bloomberg News reported on Wednesday.
Source: Reuters
Wed, 17 Apr 2024 19:30:37 -0400
Sentiment: Positive
These Were Q1's Best-Performing Nasdaq 100 Stocks. Can They Repeat in Q2?
The first quarter of 2024 was pretty much a continuation of what investors saw in 2023. The tech-laden Nasdaq 100 index that gained 51% last year was up almost 10% over the first three months of the new year.
Source: InvestorPlace
Wed, 17 Apr 2024 15:30:39 -0400
Sentiment: Positive
Q2 AI Watch: 3 Stocks to Keep Your Eyes On Now
While investors' eyes remain glued on the big names in artificial intelligence, endless other companies are integrating AI technology more quietly. Not every company actively chooses to rebrand as an AI specialist, even while benefiting from its popularity.
Source: InvestorPlace
Wed, 17 Apr 2024 13:00:00 -0400
Sentiment: Neutral
Micron (MU) Elevates NAND Technology With 232-layer QLC NAND
Leveraging the 232-layer QLC NAND technology, Micron (MU) delivers industry-leading bit-density, NAND I/O speeds, and read and programming performance, surpassing competitors' offerings.
Source: Zacks Investment Research
Wed, 17 Apr 2024 09:31:05 -0400
Sentiment: Positive
Instituions Institution %: 84.969
Last QTR Institution change: -9673174

Insiders
Insiders %: 0.282
Insiders Purchases last QTR: 0
Insiders Sales last QTR: 327890
Insiders Net last QTR: -327890

Analyst Ratings
Target Price: 73.98
Overall Rating: 4.3421
Strong Buys (5): 23
Buys (4): 9
Holds (3): 3
Sells (2): 2
Strong Sells (1): 1

Technicals
52 Week Hi: 130.5431
52 Week Low: 57.6915
Beta: 1.277
50 Day MA: 100.8456
200 Day MA: 79.8404

Earnings / Revenue Trends
Qtr Earnings Growth YOY: -0.432
Qtr Revenue Growth YOY: 0.577
Forward PE: 333.3333
Trailing PE: 0

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