Stock Traders Purchase High Volume of Call Options on Micron Technology (NASDAQ:MU)

Micron Technology, Inc. (NASDAQ:MU) saw some unusual options trading activity on Friday. Traders purchased 206,295 call options on the company. Thisrepresentsanincreaseofapproximately31% compared to the typical daily volume of 157,094 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MU shares. Citigroup increased their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Raymond James Financial lifted their target price on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. The Goldman Sachs Group assumed coverage on Micron Technology in a research report on Thursday, July 10th. They set a “neutral” rating and a $130.00 price target on the stock. TD Cowen boosted their target price on shares of Micron Technology from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Micron Technology in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.54.

Micron Technology Trading Up 5.8%

Micron Technology stock opened at $131.37 on Friday. Micron Technology has a 52-week low of $61.54 and a 52-week high of $131.41. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $147.02 billion, a price-to-earnings ratio of 23.67 and a beta of 1.47. The firm has a 50-day moving average price of $117.85 and a two-hundred day moving average price of $101.70.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts expect that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s payout ratio is currently 8.29%.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 264,884 shares of company stock valued at $32,363,889. 0.30% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

Several institutional investors have recently modified their holdings of MU. SevenBridge Financial Group LLC acquired a new stake in shares of Micron Technology during the second quarter worth $232,000. Orion Porfolio Solutions LLC increased its stake in Micron Technology by 8.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 58,300 shares of the semiconductor manufacturer’s stock worth $7,185,000 after purchasing an additional 4,583 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Micron Technology by 1,193.4% in the second quarter. Thrivent Financial for Lutherans now owns 611,383 shares of the semiconductor manufacturer’s stock worth $75,359,000 after buying an additional 564,113 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Micron Technology during the second quarter valued at approximately $4,975,000. Finally, Stance Capital LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $1,386,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.