Micron Technology (MU) : Traders are bullish on Micron Technology (MU) as it has outperformed the S&P 500 by a wide margin of 23.29% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.88%, 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 8.84% in the last 1 week, and is up 23.76% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Micron Technology, Inc. is up 50.46% in the last 3-month period. Year-to-Date the stock performance stands at 14.76%. The stock has recorded a 20-day Moving Average of 13.14% and the 50-Day Moving Average is 21.43%.
Micron Technology (NASDAQ:MU): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.16 and $16.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.25, notching a gain of 3.04% for the day. The total traded volume was 35,059,370 . The stock had closed at $15.77 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Brean Capital, maintains their rating on the shares of Micron Technology (NASDAQ:MU). Brean Capital has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $18 per share from a prior target of $14. The rating by the firm was issued on August 16, 2016.
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.