Traders Purchase Large Volume of Micron Technology Put Options (MU)
Shares of Micron Technology (NYSE:MU) was the target of unusually large options trading activity on Friday. Traders bought 53,775 put options on the stock, AnalystRatingsNetwork.com reports. This is an increase of approximately 128% compared to the typical daily volume of 23,576 put options.
A number of research firms have recently commented on MU. Analysts at TheStreet upgraded shares of Micron Technology (NYSE:MU) to a “buy” rating in a research note to investors on Friday. Separately, analysts at Credit Suisse raised their price target on shares of Micron Technology (NYSE:MU) from $20.00 to $25.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Nomura raised their price target on shares of Micron Technology (NYSE:MU) from $14.00 to $16.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.34.
Micron Technology (NYSE:MU) traded up 2.53% during mid-day trading on Friday, hitting $18.47. 48,080,596 shares of the company’s stock traded hands. Micron Technology has a 1-year low of $5.16 and a 1-year high of $18.55. The stock’s 50-day moving average is $15.73 and its 200-day moving average is $12.76. The company’s market cap is $19.181 billion.
Micron Technology, Inc, is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
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