The stock of Micron Technology, Inc. (NASDAQ:MU) is a huge mover today! About 13.11M shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has risen 56.59% since March 15, 2016 and is uptrending. It has outperformed by 51.11% the S&P500.
The move comes after 6 months positive chart setup for the $18.07B company. It was reported on Oct, 18 by Barchart.com. We have $22.99 PT which if reached, will make NASDAQ:MU worth $5.60 billion more.
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. The rating was maintained by JP Morgan with “Overweight” on Thursday, March 31. Cowen & Co maintained the stock with “Outperform” rating in Wednesday, December 23 report. Drexel Hamilton upgraded the stock to “Buy” rating in Wednesday, July 29 report. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Wednesday, August 19 by Argus Research. As per Friday, September 25, the company rating was maintained by Wedbush. Stifel Nicolaus maintained the stock with “Buy” rating in Friday, July 1 report. The company was maintained on Thursday, September 1 by Cowen & Co. On Monday, March 28 the stock rating was maintained by Barclays Capital with “Overweight”. As per Wednesday, October 5, the company rating was maintained by Deutsche Bank. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Wednesday, October 5 by Stifel Nicolaus.
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 increased, 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.
Nepsis Cap Management last reported 393,969 shares in the company. Gargoyle Advisor Ltd holds 0.22% or 43,076 shares in its portfolio. Amica Mutual accumulated 0.11% or 81,550 shares. Amalgamated Financial Bank holds 0.04% or 48,576 shares in its portfolio. The Missouri-based Co Bank & Trust has invested 0% in Micron Technology, Inc. (NASDAQ:MU). Stonebridge Capital Advsr has 163,885 shares for 0.77% of their US portfolio. Capstone Asset has invested 0.03% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Lombard Odier Asset Mgmt (Europe) Limited holds 0.01% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 13,417 shares. Mackenzie Financial has 0.07% invested in the company for 857,956 shares. Van Eck owns 1.03M shares or 0.07% of their US portfolio. Bp Public Limited Company accumulated 625,000 shares or 0.34% of the stock. Trilogy Global Advsrs Limited Partnership has 0.8% invested in the company for 1.89M shares. Canada Pension Plan Inv Board holds 0.02% or 398,201 shares in its portfolio. Zweig accumulated 0.49% or 350,000 shares. Standard Life Investments Ltd has 0.4% invested in the company for 6.52M shares.
Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 4 sales for $2.95 million net activity. 31,500 shares with value of $537,047 were sold by Deboer Scott J on Monday, August 29. ARNZEN APRIL S sold $202,385 worth of stock or 11,424 shares. The insider Shirley Brian sold $603,047.
More recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Profitconfidential.com which released: “Micron Technology, Inc: Why MU Stock is Going Crazy” on September 30, 2016. Also Seekingalpha.com published the news titled: “Micron NAND: You Don’t Need A Weatherman” on October 17, 2016. Nasdaq.com‘s news article titled: “Earnings Reaction History: Micron Technology Inc., 33.3% Follow-Through …” with publication date: October 04, 2016 was also an interesting one.
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.
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