Micron Technology, Inc. Draws Bullish Options Activity Today

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In today’s session Micron Technology, Inc. (MU) registered an unusually high (8,229) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2015 call, expecting serious MU increase. With 8,229 contracts traded and 2802 open interest for the Nov, 15 contract, it seems this is a quite bullish bet. The option with symbol: MU151120C00015000 closed last at: $0.51 or 26.1% down. The stock decreased 2.28% or $0.35 on November 13, hitting $15. About 21.07 million shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has declined 45.89% since April 14, 2015 and is downtrending. It has underperformed by 42.41% the S&P500.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to reports earnings on January, 5. They expect $0.23 earnings per share, down 76.29% or $0.74 from last year’s $0.97 per share. MU’s profit will be $249.78 million for 16.30 P/E if the $0.23 EPS becomes reality. After $0.37 actual earnings per share reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts -37.84% negative EPS growth.

Out of 22 analysts covering Micron Technology Inc. (NASDAQ:MU), 13 rate it “Buy”, 1 “Sell”, while 8 “Hold”. This means 59% are positive. Micron Technology Inc. was the topic in 38 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Needham downgraded the stock on October 21 to “Hold” rating.

The institutional sentiment decreased to 0.86 in Q2 2015. Its down 0.11, from 0.97 in 2015Q1. The ratio dived, as 127 funds sold all Micron Technology, Inc. shares owned while 237 reduced positions. 77 funds bought stakes while 236 increased positions. They now own 928.62 million shares or 6.13% less from 989.22 million shares in 2015Q1.

Credit Capital Investments Llc holds 15.62% of its portfolio in Micron Technology, Inc. for 1.33 million shares. Alken Asset Management Ltd. owns 14.07 million shares or 15.57% of their US portfolio. Moreover, Hawkeye Capital Management Llc has 14.09% invested in the company for 1.13 million shares. The California-based Dalton Investments Llc has invested 12.09% in the stock. Greenlight Capital Inc, a New York-based fund reported 37.95 million shares.

Since April 20, 2015, the stock had 0 buys, and 3 sales for $1.17 million net activity. Bailey Robert L sold 4,000 shares worth $80,002. Deboer Scott J sold 39,087 shares worth $977,437. Shirley Brian sold 89,750 shares worth $2.58M. Johnson Mercedes sold 18,250 shares worth $509,540.

Micron Technology, Inc. is a global well-known provider of semiconductor devices. The company has a market cap of $16.29 billion. Through the Company’s global operations, it makes and markets a full range of Dynamic Random Access Memory , NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products. It has 6.09 P/E ratio. The Firm operates in four divisions: Compute and Networking Business Unit (CNBU), which includes DRAM and NOR Flash products; Mobile Business Unit (MBU), which includes DRAM, NAND Flash and NOR Flash products; Storage Business Unit (SBU), which includes NAND Flash components and Solid-State Drives (SSDs), cloud and removable storage markets.

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