Stock Traders Buy High Volume of Put Options on Micron Technology (MU)
Micron Technology (NYSE:MU) was the target of unusually large options trading on Friday. Traders purchased 96,735 put options on the company, StockRatingsNetwork.com reports. This represents an increase of approximately 197% compared to the average daily volume of 32,517 put options.
In other Micron Technology news, VP Scott Deboer sold 26,750 shares of Micron Technology stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $18.60, for a total transaction of $497,550.00. Following the completion of the transaction, the vice president now directly owns 256,218 shares of the company’s stock, valued at approximately $4,765,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Sunday. Separately, analysts at Raymond James raised their price target on shares of Micron Technology from $20.00 to $24.00 in a research note to investors on Friday. They now have a “strong-buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $14.00 to $17.00 in a research note to investors on Friday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Micron Technology presently has an average rating of “Hold” and a consensus target price of $18.38.
Shares of Micron Technology (NYSE:MU) opened at 16.84 on Monday. Micron Technology has a one year low of $5.16 and a one year high of $18.85. The stock has a 50-day moving average of $16.32 and a 200-day moving average of $13.06. The company’s market cap is $17.488 billion.
Micron Technology (NYSE:MU) last issued its quarterly earnings data on Thursday, October 10th. The company reported $1.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $1.27. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was up 44.8% on a year-over-year basis. On average, analysts predict that Micron Technology will post $2.08 earnings per share for the current fiscal year.
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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