What’s Micron Technology, Inc. Upside After Today’s Bullish Options Activity?

 What's Micron Technology, Inc. Upside After Today's Bullish Options Activity?

In today’s session Micron Technology, Inc. (MU) registered an unusually high (2,757) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the April, 2017 call, expecting serious MU increase. With 2,757 contracts traded and 278504 open interest for the Apr, 17 contract, it seems this is a quite bullish bet. The option with symbol: MU170421C00018000 closed last at: $1.49 or 0.7% down. About 8.67M shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has risen 60.38% since April 5, 2016 and is uptrending. It has outperformed by 58.43% 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. $33 is the highest target while $8 is the lowest. The $20 average target is 15.41% above today’s ($17.33) stock price. Micron Technology Inc. has been the topic of 101 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Wednesday, September 21 by Nomura. The company was maintained on Monday, March 28 by Barclays Capital. The firm has “Overweight” rating given on Thursday, December 17 by Morgan Stanley. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Neutral” rating by Susquehanna on Friday, March 18. Cowen & Co maintained Micron Technology, Inc. (NASDAQ:MU) on Monday, September 28 with “Market Perform” rating. The firm has “Buy” rating given on Thursday, August 25 by Nomura. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Deutsche Bank on Friday, October 2. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Outperform” rating given on Wednesday, June 8 by Cowen & Co. On Thursday, March 31 the stock rating was maintained by JP Morgan with “Overweight”. Stifel Nicolaus maintained Micron Technology, Inc. (NASDAQ:MU) rating on Friday, July 1. Stifel Nicolaus has “Buy” rating and $15 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 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.
Credit Invests Ltd Liability Company last reported 14.86% of its portfolio in the stock. Consolidated Invest Ltd Limited Liability Company has 176,009 shares for 1.22% of their US portfolio. Guggenheim Limited accumulated 0.16% or 3.79 million shares. Ariel Cap Lc, a Florida-based fund reported 14,600 shares. Principal Fincl Grp has 0.03% invested in the company for 1.55M shares. Stonebridge Capital Mngmt holds 0.11% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 17,645 shares. Lombard Odier Transatlantic Partnership has 0.01% invested in the company for 700 shares. Kbc Grp Nv reported 66,342 shares or 0.01% of all its holdings. Cambridge Rech Advisors Inc owns 42,834 shares or 0.01% of their US portfolio. Raymond James Trust Na last reported 15,131 shares in the company. Icm Asset Mngmt Wa reported 132,105 shares or 2.65% of all its holdings. Moreover, Sector Pension Board has 0.04% invested in Micron Technology, Inc. (NASDAQ:MU) for 246,555 shares. Moreover, Zweig has 0.49% invested in Micron Technology, Inc. (NASDAQ:MU) for 350,000 shares. The Illinois-based Ubs Asset Mngmt Americas has invested 0.14% in Micron Technology, Inc. (NASDAQ:MU). Moreover, Columbus Circle Investors has 0.59% invested in Micron Technology, Inc. (NASDAQ:MU) for 4.27M shares.

Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 5 insider sales for $4.06 million net activity. 90,014 shares were sold by Shirley Brian, worth $1.61M on Tuesday, October 4. Shares for $1.11 million were sold by Thorsen Steven L. JR. ARNZEN APRIL S sold 11,424 shares worth $202,385. On Monday, August 29 Deboer Scott J sold $537,047 worth of the stock or 31,500 shares.

Micron Technology, Inc. is engaged in semiconductor systems. The company has a market cap of $17.73 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 currently has negative earnings.

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.

More important recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Fool.com which released: “Better Buy: Micron Technology, Inc. vs. Intel Corp.” on October 29, 2016, also Fool.com published article titled: “Better Buy: Micron Technology Inc. vs. Qualcomm Inc”, Profitconfidential.com published: “Micron Technology, Inc.: These Indicators Are Fueling MU Stock” on October 27, 2016. More interesting news about Micron Technology, Inc. (NASDAQ:MU) was released by: Seekingalpha.com and their article: “Micron Technology: DRAM Powering Along” with publication date: November 04, 2016.

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