Micron Technology Target of Unusually Large Options Trading (NASDAQ:MU)

Micron Technology, Inc. (NASDAQ:MU) was the target of unusually large options trading on Monday. Stock investors purchased 259,705 call options on the company. This is an increase of 41% compared to the average daily volume of 183,679 call options.

Micron Technology Trading Up 0.3 %

Shares of MU opened at $108.60 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology has a 52-week low of $78.63 and a 52-week high of $157.54. The firm has a market cap of $120.99 billion, a price-to-earnings ratio of 159.71 and a beta of 1.16. The business’s fifty day moving average is $103.80 and its 200-day moving average is $109.12.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period last year, the company posted ($1.21) EPS. Equities analysts anticipate that Micron Technology will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Micron Technology by 0.6% during the second quarter. Assenagon Asset Management S.A. now owns 53,402 shares of the semiconductor manufacturer’s stock worth $7,024,000 after acquiring an additional 333 shares during the last quarter. Brookstone Capital Management lifted its position in shares of Micron Technology by 1.1% in the 2nd quarter. Brookstone Capital Management now owns 11,392 shares of the semiconductor manufacturer’s stock worth $1,498,000 after purchasing an additional 125 shares during the period. Western Wealth Management LLC increased its position in shares of Micron Technology by 7.8% during the second quarter. Western Wealth Management LLC now owns 2,500 shares of the semiconductor manufacturer’s stock worth $329,000 after buying an additional 180 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Micron Technology by 42.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,299 shares of the semiconductor manufacturer’s stock worth $434,000 after buying an additional 984 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in Micron Technology by 10.9% in the second quarter. Apollon Wealth Management LLC now owns 22,467 shares of the semiconductor manufacturer’s stock valued at $2,955,000 after buying an additional 2,200 shares during the period. Institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MU shares. KeyCorp cut their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. Finally, BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.