Micron Technology (MU) : The total money flow in Micron Technology (MU) was negative ($3.36 million), which signals selling by the traders on Wednesdays session. They trimmed their holdings by selling the stock on downticks to the tune of $27.05 million. In comparison, the inflow of money into the stock on upticks was $23.69 million. The uptick to downtick ratio was 0.88. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $12 million. The value of transactions on uptick was $8.97 million. The negative money flow of ($3.03 million) confirms the selling in Micron Technology (MU) on strength. The uptick to downtick ratio of block trades was 0.75. Micron Technology (MU) gained $0.25 at $13.47, a gain of 1.89% over the previous days close. However, the stock registered 2.59% in the week.
Also, Nomura upgrades its rating on Micron Technology (NASDAQ:MU). The global brokerage major raises the current price target from $8 per share to $18 per share. Analysts at the Nomura have a current rating of Buy on the shares. The shares were previously rated Reduce. The rating by the firm was issued on June 23, 2016.
Micron Technology (NASDAQ:MU): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.33 and $13.24 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.59, notching a gain of 2.80% for the day. The total traded volume was 35,665,960 . The stock had closed at $13.22 on the previous day.
The stock has recorded a 20-day Moving Average of 5.35% and the 50-Day Moving Average is 12.64%. In a related news, The officer (VP Memory Solutions), of Micron Technology Inc, Shirley Brian had unloaded 48,750 shares at $12.37 per share in a transaction on July 5, 2016. The total value of transaction was $603,038. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
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.