Micron Technology, Inc. (NASDAQ:MU) was the target of unusually large options trading on Wednesday. Stock investors purchased 112,784 call options on the company. This is an increase of 137% compared to the typical daily volume of 47,676 call options.

MU has been the topic of several research reports. UBS AG reissued an “average” rating and issued a $36.00 target price (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a research report on Thursday, June 8th. Stifel Nicolaus reissued a “buy” rating and issued a $47.00 target price on shares of Micron Technology in a research report on Tuesday, June 6th. ValuEngine downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 31st. Finally, BidaskClub downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $37.89.

Shares of Micron Technology (NASDAQ:MU) opened at 36.07 on Friday. The firm has a market cap of $40.04 billion, a P/E ratio of 15.84 and a beta of 1.75. The stock’s 50 day moving average is $31.03 and its 200-day moving average is $29.54. Micron Technology has a one year low of $16.17 and a one year high of $36.22.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company’s revenue was up 92.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Analysts anticipate that Micron Technology will post $4.73 EPS for the current fiscal year.

In other news, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the transaction, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at $4,767,888. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.35, for a total value of $88,050.00. Following the transaction, the director now directly owns 124,384 shares in the company, valued at $3,650,670.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,077 shares of company stock worth $3,337,692. Insiders own 0.69% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its position in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the last quarter. Wetherby Asset Management Inc. raised its position in shares of Micron Technology by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $457,000 after buying an additional 154 shares during the last quarter. Neuberger Berman Group LLC increased its position in Micron Technology by 1.4% during the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after purchasing an additional 170 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Micron Technology by 0.5% during the first quarter. Ameritas Investment Partners Inc. now owns 43,675 shares of the semiconductor manufacturer’s stock worth $1,262,000 after purchasing an additional 203 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its position in Micron Technology by 0.4% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after purchasing an additional 221 shares during the last quarter. 79.32% of the stock is owned by institutional investors and hedge funds.

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About Micron Technology

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