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Micron Technology (NYSE:MU) saw some unusual options trading activity on Wednesday. Traders acquired 54,953 put options on the company, AR Network reports. This is an increase of 152% compared to the typical volume of 21,812 put options.

In other Micron Technology news, Director Lawrence N. Mondry sold 10,000 shares of the stock on the open market in a transaction dated Thursday, June 5th. The shares were sold at an average price of $29.10, for a total transaction of $291,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Several analysts have recently commented on the stock. Analysts at Bank of America upgraded shares of Micron Technology from an “underperform” rating to a “buy” rating in a research note on Wednesday. They now have a $40.00 price target on the stock, up previously from $22.00. Separately, analysts at Credit Suisse raised their price target on shares of Micron Technology from $30.00 to $50.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at ING Group upgraded shares of Micron Technology from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.36.

Shares of Micron Technology (NYSE:MU) traded up 5.02% on Wednesday, hitting $30.99. The stock had a trading volume of 55,326,580 shares. Micron Technology has a 1-year low of $12.31 and a 1-year high of $29.72. The stock’s 50-day moving average is $27.19 and its 200-day moving average is $24.20. The company has a market cap of $33.171 billion and a P/E ratio of 11.92.

Micron Technology (NYSE:MU) last issued its quarterly earnings data on Thursday, April 3rd. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.11. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the company posted ($0.28) earnings per share. Micron Technology’s revenue was up 97.6% compared to the same quarter last year. On average, analysts predict that Micron Technology will post $3.02 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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