This Is What Whales Are Betting On Micron Technology
Portfolio Pulse from Benzinga Insights
Whales have shown a bearish stance on Micron Technology (NASDAQ:MU), with 59% of detected trades being bearish and 40% bullish. The trading activity suggests a price target range between $50.0 and $140.0. Micron Technology, a major semiconductor company, is currently trading down by -1.76% at $95.9, with an anticipated earnings release in 9 days. Analysts have given an average target price of $112.5, with mixed ratings from firms like Cantor Fitzgerald, Mizuho, Wells Fargo, and Stifel.
March 11, 2024 | 6:30 pm
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Whales show a bearish bias on MU with a price target range of $50-$140. Currently trading at $95.9, down -1.76%. Analysts give an average target of $112.5 with mixed ratings.
The bearish stance by whales, combined with the current downtrend in price and the mixed analyst ratings, suggests a short-term negative impact on MU's stock price. However, the anticipation of earnings release and the average target price above the current trading price provide a counterbalance, moderating the expected impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100