Micron Technology (MU) : Traders are bullish on Micron Technology (MU) as it has outperformed the S&P 500 by a wide margin of 12.26% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.23%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.68% in the last 1 week, and is up 15.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Micron Technology (NASDAQ:MU): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.22 and $14.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.78. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.52, notching a gain of 3.49% for the day. The total traded volume was 29,098,372 . The stock had closed at $14.03 on the previous day.
The stock has recorded a 20-day Moving Average of 7.76% and the 50-Day Moving Average is 12.41%. Micron Technology, Inc. is up 45.35% in the last 3-month period. Year-to-Date the stock performance stands at 2.54%.
Micron Technology (MU) has been rated by 15 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $19 and the lowest price target forecast is $8. The average forecast of all the analysts is $14.67 and the expected standard deviation is $3.42.
Micron Technology, Inc. is a global provider of semiconductor devices. Through the Companys global operations, it manufactures and markets a full range of Dynamic Random Access Memory (DRAM), NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU), which includes DRAM and NOR Flash products; Mobile Business Unit (MBU), which includes DRAM, NAND Flash and NOR Flash products; Storage Business Unit (SBU), which includes NAND Flash components and Solid-State Drives (SSDs), cloud and removable storage markets. SBU also includes NAND Flash products, and Embedded Business Unit (EBU), which includes DRAM, NAND Flash and NOR Flash products.