Micron Technology, Inc. Can’t Be More Safe. Option Traders Like It

 Micron Technology, Inc. Can't Be More Safe. Option Traders Like It

In today’s session Micron Technology, Inc. (MU) registered an unusually high (932) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2018 call, expecting serious MU increase. With 932 contracts traded and 362694 open interest for the Jan, 18 contract, it seems this is a quite bullish bet. The option with symbol: MU180119C00015000 closed last at: $5.25 or 2.9% up. About 52.09 million shares traded hands or 100.19% up from the average. Micron Technology, Inc. (NASDAQ:MU) has risen 60.16% since March 1, 2016 and is uptrending. It has outperformed by 50.92% the S&P500.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to report earnings on October, 6. They expect $-0.18 earnings per share, down 148.65% or $0.55 from last year’s $0.37 per share. After $-0.08 actual earnings per share reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts 125.00% negative EPS growth.

Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage

Out of 33 analysts covering Micron Technology Inc. (NASDAQ:MU), 24 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 73% are positive. $33 is the highest target while $8 is the lowest. The $19.35 average target is 11.59% above today’s ($17.34) stock price. Micron Technology Inc. has been the topic of 91 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Friday, August 14 the stock rating was maintained by M Partners with “Neutral”. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Drexel Hamilton on Wednesday, July 29. Bernstein maintained Micron Technology, Inc. (NASDAQ:MU) rating on Wednesday, May 18. Bernstein has “Market Perform” rating and $11 price target. The rating was upgraded by Mizuho on Tuesday, February 16 to “Buy”. The rating was maintained by Goldman Sachs on Monday, June 6 with “Neutral”. On Tuesday, March 29 the stock rating was downgraded by Needham to “Underperform”. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Stifel Nicolaus on Monday, August 29. The rating was maintained by Cowen & Co on Wednesday, December 23 with “Outperform”. On Thursday, March 31 the stock rating was maintained by Evercore with “Buy”. The firm earned “Market Perform” rating on Monday, August 17 by Wells Fargo.

Insitutional Activity: The institutional sentiment increased to 1.16 in 2016 Q2. Its up 0.28, from 0.88 in 2016Q1. The ratio improved, as 60 funds sold all Micron Technology, Inc. shares owned while 185 reduced positions. 95 funds bought stakes while 189 increased positions. They now own 806.79 million shares or 0.87% less from 813.86 million shares in 2016Q1.
Sumitomo Life Insurance has 0.1% invested in the company for 54,393 shares. Tudor Investment Corp Et Al has 0.05% invested in the company for 172,272 shares. Commonwealth State Bank Of Australia holds 432,375 shares or 0.07% of its portfolio. Mirador Prns Lp accumulated 2.04% or 150,272 shares. Great West Life Assurance Co Can reported 704,051 shares or 0.03% of all its holdings. Daiwa Grp Inc has 0% invested in the company for 24,900 shares. Croft accumulated 466,787 shares or 1.44% of the stock. Ubs Asset Americas Inc last reported 8.85 million shares in the company. Zwj Invest Counsel, a Georgia-based fund reported 736,693 shares. Rothschild Invest Corporation Il accumulated 0.02% or 11,020 shares. Jane Street Grp Lc, a New York-based fund reported 106,576 shares. Citigroup Incorporated owns 1.24M shares or 0.02% of their US portfolio. Blackrock Advsr Ltd Liability Co last reported 0.1% of its portfolio in the stock. Shelton Capital Mngmt has 69,569 shares for 0.08% of their US portfolio. Guggenheim Limited Liability Co accumulated 3.79 million shares or 0.16% of the stock.

Insider Transactions: Since July 5, 2016, the stock had 0 buys, and 2 sales for $1.14 million net activity. Another trade for 48,750 shares valued at $603,047 was sold by Shirley Brian. The insider Deboer Scott J sold $537,047.

Micron Technology, Inc. is engaged in semiconductor systems. The company has a market cap of $18.43 billion. The Company’s portfolio of memory technologies, including dynamic random-access memory , negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. It has a 57.91 P/E ratio.

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