Micron Technology, Inc. (NASDAQ:MU – Get Free Report) was the target of unusually large options trading activity on Thursday. Investors acquired 496,092 call options on the company. This represents an increase of approximately 144% compared to the typical daily volume of 202,975 call options.
Micron Technology Price Performance
Shares of NASDAQ:MU traded up $14.05 during trading on Thursday, reaching $109.82. The stock had a trading volume of 60,509,770 shares, compared to its average volume of 21,821,863. Micron Technology has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a market cap of $121.77 billion, a PE ratio of -78.00, a PEG ratio of 0.20 and a beta of 1.17. The business has a fifty day moving average price of $97.92 and a 200-day moving average price of $114.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.
Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.21) earnings per share. On average, equities analysts forecast that Micron Technology will post 0.61 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Micron Technology
Analyst Ratings Changes
MU has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Wells Fargo & Company dropped their price target 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. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and decreased their target price for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Morgan Stanley upped their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Piper Sandler upped their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.42.
Check Out Our Latest Research Report on MU
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.
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