Is Micron Technology, Inc. a Buy? The Stock Had Bullish Options Activity Today

 Is Micron Technology, Inc. a Buy? The Stock Had Bullish Options Activity Today

In today’s session Micron Technology, Inc. (MU) registered an unusually high (3,066) 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 3,066 contracts traded and 367094 open interest for the Jan, 18 contract, it seems this is a quite bullish bet. The option with symbol: MU180119C00015000 closed last at: $6.65 or 0.8% up. The stock last traded at $20.13 per share. It is down 90.81% since April 25, 2016 and is uptrending. It has outperformed by 84.79% the S&P500.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to report earnings on December, 27. They expect $0.18 EPS, down 25.00% or $0.06 from last year’s $0.24 per share. MU’s profit will be $189.57 million for 27.96 P/E if the $0.18 EPS becomes a reality. After $-0.05 actual EPS reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts -460.00% 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 $20 average target is -0.65% below today’s ($20.13) stock price. Micron Technology Inc. has been the topic of 101 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating by Bernstein given on Wednesday, May 18. Barclays Capital maintained the stock with “Outperform” rating in Wednesday, October 5 report. The firm earned “Outperform” rating on Wednesday, October 5 by Credit Suisse. Needham downgraded the shares of MU in a report on Wednesday, October 21 to “Hold” rating. On Wednesday, August 19 the stock rating was maintained by Argus Research with “Buy”. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Tuesday, February 16 by Mizuho. Nomura maintained Micron Technology, Inc. (NASDAQ:MU) on Wednesday, September 21 with “Buy” rating. Bernstein downgraded Micron Technology, Inc. (NASDAQ:MU) on Thursday, March 31 to “Market Perform” rating. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, October 5. The rating was maintained by Sterne Agee CRT with “Buy” on Wednesday, December 23.

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 decreased to 0.98 in 2016 Q2. Its down 0.18, from 1.16 in 2016Q1. The ratio fall, 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.
Valley National Advisers holds 0% or 400 shares in its portfolio. Mark Sheptoff Planning Lc has 40,100 shares for 0.41% of their US portfolio. Oregon Pub Employees Retirement Fund holds 237,348 shares or 0.07% of its portfolio. The United Kingdom-based Glg Ptnrs Lp has invested 0.22% in Micron Technology, Inc. (NASDAQ:MU). Hsbc Public Limited Co holds 0.05% or 1.43 million shares in its portfolio. Moreover, First Trust Advisors Lp has 0.14% invested in Micron Technology, Inc. (NASDAQ:MU) for 3.27 million shares. Manchester Cap Ltd Liability, a Vermont-based fund reported 1,902 shares. Suntrust Banks last reported 0% of its portfolio in the stock. Ameritas Inv Ptnrs, a Nebraska-based fund reported 38,472 shares. Hap Trading Ltd Liability has invested 1.19% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Quantres Asset Management has invested 0.27% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Private Ocean Lc holds 1,300 shares or 0.01% of its portfolio. Advisor Ptnrs Llc accumulated 0.07% or 15,188 shares. Kanaly accumulated 0% or 248 shares. Livforsakringsbolaget Skandia Omsesidigt has 0.09% invested in the company for 140,236 shares.

Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 8 selling transactions for $5.64 million net activity. The insider Deboer Scott J sold $537,047. Shirley Brian had sold 90,014 shares worth $1.61 million on Tuesday, October 4. On Thursday, October 6 the insider ARNZEN APRIL S sold $202,385. 63,000 shares were sold by Thorsen Steven L. JR, worth $1.11M on Tuesday, October 25. DURCAN DERMOT MARK also sold $23,951 worth of Micron Technology, Inc. (NASDAQ:MU) shares.

Micron Technology, Inc. is engaged in semiconductor systems. The company has a market cap of $21.20 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 notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Forbes.com which released: “Micron Technology Reaches Analyst Target Price” on November 22, 2016, also Fool.com with their article: “Better Buy: Micron Technology, Inc. vs. Intel Corp.” published on October 29, 2016, Fool.com published: “Better Buy: Micron Technology, Inc. vs. Samsung” on November 17, 2016. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Investorplace.com and their article: “Micron Technology, Inc. (MU) Stock Breakout Demands a Buy” published on November 18, 2016 as well as Schaeffersresearch.com‘s news article titled: “Analyst Upgrades: Micron Technology, Inc., Randgold Resources Ltd., and …” with publication date: November 28, 2016.

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