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Shares of Micron Technology (NYSE:MU) saw unusually large options trading on Thursday. Traders bought 77,026 put options on the company, reports. This represents an increase of 111% compared to the average volume of 36,455 put options.

A number of analysts have recently weighed in on MU shares. Analysts at TheStreet reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Monday. Finally, analysts at JMP Securities upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, January 16th. They now have a $31.00 price target on the stock. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.31.

Micron Technology (NYSE:MU) traded up 3.43% during mid-day trading on Thursday, hitting $24.11. 65,345,052 shares of the company’s stock traded hands. Micron Technology has a one year low of $7.63 and a one year high of $24.50. The stock has a 50-day moving average of $22.56 and a 200-day moving average of $18.3. The company has a market cap of $25.578 billion and a price-to-earnings ratio of 14.07.

Micron Technology (NYSE:MU) last announced its earnings results on Tuesday, January 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.14. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 120.4% on a year-over-year basis. On average, analysts predict that Micron Technology will post $2.14 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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