Today Micron Technology, Inc. Had High Bearish Options Activity

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In today’s session Micron Technology, Inc. (MU) recorded an unusually high (5,683) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2016 put, expecting serious MU decrease. With 5,683 contracts traded and 13581 open interest for the Jan, 16 contract, it seems this is a quite bearish bet. The option with symbol: MU160115P00014000 closed last at: $0.29 or 23.7% down. The stock is up 0.85% or $0.16 after the news, hitting $18.98 per share. About 3.01M shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has declined 32.83% since March 12, 2015 and is downtrending. It has underperformed by 29.36% the S&P500.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to reports earnings on January, 5. They expect $0.23 EPS, down 76.29% or $0.74 from last year’s $0.97 per share. MU’s profit will be $246.64M for 20.59 P/E if the $0.23 EPS becomes reality. After $0.37 actual EPS 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), 14 rate it “Buy”, 0 “Sell”, while 8 “Hold”. This means 64% are positive. $33 is the highest target while $15.0 is the lowest. The $22.75 average target is 19.86% above today’s ($18.98) stock price. Micron Technology Inc. was the topic in 36 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Mizuho maintained the stock on October 9 with “Neutral” rating. Wedbush maintained the shares of MU in a report on October 2 with “Neutral” rating. Finally, Jefferies maintained the stock with “Buy” rating in an October 2 report.

The institutional sentiment decreased to 0.86 in Q2 2015. Its down 0.11, from 0.97 in 2015Q1. The ratio dropped, 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 5 selling transactions for $4.26 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 $2.58 million. 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 $20.36 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 6.33 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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