In today’s session Micron Technology, Inc. (MU) registered an unusually high (7,743) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious MU increase. With 7,743 contracts traded and 23054 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: MU170120C00022000 closed last at: $0.25 or 8.7% up. About 6.44 million shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has risen 53.63% since March 14, 2016 and is uptrending. It has outperformed by 48.02% the S&P500.
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. Micron Technology Inc. has been the topic of 101 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Monday, October 3 the stock rating was maintained by Barclays Capital with “Overweight”. The firm has “Overweight” rating by JP Morgan given on Thursday, March 31. The company was maintained on Wednesday, October 5 by Stifel Nicolaus. The stock has “Buy” rating given by Jefferies on Friday, October 2. The rating was maintained by Mizuho with “Buy” on Wednesday, October 5. Raymond James downgraded it to “Outperform” rating and $17 target price in Wednesday, December 23 report. Morgan Stanley maintained the shares of MU in a report on Friday, October 2 with “Equal-Weight” rating. The rating was maintained by Bernstein with “Market Perform” on Wednesday, May 18. As per Tuesday, March 29, the company rating was downgraded by Needham. Pacific Crest maintained Micron Technology, Inc. (NASDAQ:MU) rating on Friday, October 2. Pacific Crest has “Overweight” rating and $21 price target.
According to Zacks Investment Research, “Micron Technology, Inc. has established itself as one of the leading worldwide providers of semiconductor memory solutions. The company’s quality memory solutions serve customers in a variety of industries including computer and computer-peripheral manufacturing, consumer electronics, CAD/CAM, telecommunications, office automation, network and data processing, and graphics display. The company’s mission is to be the most efficient and innovative global provider of semiconductor memory solutions.”
Insitutional Activity: The institutional sentiment increased to 1.16 in Q2 2016. Its up 0.28, from 0.88 in 2016Q1. The ratio is positive, 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.
Water Island Limited accumulated 19,100 shares or 0.01% of the stock. Moreover, Mizuho Tru Bk has 0.08% invested in Micron Technology, Inc. (NASDAQ:MU) for 1.96M shares. Snow Cap Mgmt L P has invested 0.38% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Hodges Mgmt Incorporated, a Texas-based fund reported 1.04 million shares. Hap Trading Ltd Liability Corporation reported 1.48 million shares or 1.19% of all its holdings. The Connecticut-based Quantitative Systematic Strategies has invested 0.08% in Micron Technology, Inc. (NASDAQ:MU). Moreover, Waddell & Reed Financial has 1% invested in Micron Technology, Inc. (NASDAQ:MU) for 34.44 million shares. Oxford Asset Mgmt last reported 0.09% of its portfolio in the stock. First Personal reported 461 shares or 0% of all its holdings. Chem Bancorp holds 0.02% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 11,400 shares. Westend Lc accumulated 86,860 shares or 1.73% of the stock. Clearline Capital Lp, a New York-based fund reported 441,330 shares. Commerce Bank & Trust has invested 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Dynamic Capital Mngmt Limited reported 218,626 shares or 0.35% of all its holdings. Trilogy Glob Advisors Ltd Partnership last reported 1.89 million shares in the company.
Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 4 selling transactions for $2.95 million net activity. Shirley Brian sold $1.61M worth of stock. Deboer Scott J sold $537,047 worth of stock. On Thursday, October 6 ARNZEN APRIL S sold $202,385 worth of the stock or 11,424 shares.
Micron Technology, Inc. is engaged in semiconductor systems. The company has a market cap of $18.06 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 53.45 P/E ratio.
MU Company Profile
Micron Technology, Inc., incorporated on April 6, 1984, is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. The Company’s business divisions include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets. The Company’s memory solutions enable computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications. The Firm markets its products through internal sales force, independent sales representatives and distributors primarily to original equipment manufacturers (OEMs) and retailers located around the world.
Another recent and important Micron Technology, Inc. (NASDAQ:MU) news was published by Profitconfidential.com which published an article titled: “Micron Technology, Inc: Why MU Stock is Going Crazy” on September 30, 2016.
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