Price Action Report: Micron Technology, Inc. Stock Price Declines Today

Price Action Report: Micron Technology, Inc. Stock Price Declines Today

The stock of Micron Technology, Inc. (NASDAQ:MU) is a huge mover today! About 31.65M shares traded hands or 13.64% up from the average. Micron Technology, Inc. (NASDAQ:MU) has risen 64.17% since March 8, 2016 and is uptrending. It has outperformed by 54.85% the S&P500.
The move comes after 5 months negative chart setup for the $17.37 billion company. It was reported on Oct, 11 by Barchart.com. We have $15.99 PT which if reached, will make NASDAQ:MU worth $868.50M less.

Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage

Out of 33 analysts covering Micron Technology Inc. (NASDAQ:MU), 24 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 73% are positive. Micron Technology Inc. has been the topic of 100 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Wedbush downgraded it to “Neutral” rating and $19 target price in Monday, August 17 report. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Outperform” rating by Robert W. Baird on Tuesday, May 31. The firm earned “Outperform” rating on Wednesday, December 23 by Raymond James. The firm has “Buy” rating by Deutsche Bank given on Friday, October 2. Barclays Capital maintained Micron Technology, Inc. (NASDAQ:MU) on Monday, October 3 with “Overweight” rating. The firm earned “Buy” rating on Tuesday, September 29 by Stifel Nicolaus. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Market Perform” rating by Wells Fargo on Monday, August 17. Macquarie Research downgraded the stock to “Neutral” rating in Thursday, March 31 report. On Wednesday, October 5 the stock rating was maintained by Goldman Sachs with “Neutral”. Standpoint Research downgraded the shares of MU in a report on Monday, August 29 to “Hold” rating.

According to Zacks Investment Research, “Micron Technology, Inc. has established itself as one of the leading worldwide providers of semiconductor memory solutions. The company’s quality memory solutions serve customers in a variety of industries including computer and computer-peripheral manufacturing, consumer electronics, CAD/CAM, telecommunications, office automation, network and data processing, and graphics display. The company’s mission is to be the most efficient and innovative global provider of semiconductor memory solutions.”

Insitutional Activity: The institutional sentiment increased to 1.16 in 2016 Q2. Its up 0.28, from 0.88 in 2016Q1. The ratio increased, as 60 funds sold all Micron Technology, Inc. shares owned while 185 reduced positions. 95 funds bought stakes while 189 increased positions. They now own 806.79 million shares or 0.87% less from 813.86 million shares in 2016Q1.
Westport Resources Mngmt holds 1,615 shares or 0.01% of its portfolio. Tarbox Group Inc, a California-based fund reported 104 shares. The New York-based F&V Capital Limited Liability Corp has invested 0.21% in Micron Technology, Inc. (NASDAQ:MU). Pacad Limited accumulated 0.47% or 247,137 shares. Nomura Asset Mgmt Communications Limited, a Japan-based fund reported 919,760 shares. Credit Capital Invs Limited Liability Company accumulated 14.86% or 10.53M shares. The United Kingdom-based Glg Prtn L P has invested 0.22% in Micron Technology, Inc. (NASDAQ:MU). Pine River Capital Mngmt Lp owns 622,271 shares or 0.1% of their US portfolio. High Pointe Mngmt Ltd Co holds 0.95% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 45,440 shares. Toronto Dominion Retail Bank, a Ontario – Canada-based fund reported 5,703 shares. Arrowpoint Asset Management Limited Co accumulated 0.08% or 280,000 shares. Huntington State Bank accumulated 0% or 4,305 shares. South Dakota Council owns 73,700 shares or 0.02% of their US portfolio. National Pension Ser accumulated 843,092 shares or 0.1% of the stock. Dimensional Fund Advisors L P holds 0.07% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 8.26 million shares.

Insider Transactions: Since July 5, 2016, the stock had 0 buys, and 4 sales for $2.95 million net activity. Another trade for 31,500 shares valued at $537,047 was made by Deboer Scott J on Monday, August 29. ARNZEN APRIL S also sold $202,385 worth of Micron Technology, Inc. (NASDAQ:MU) on Thursday, October 6. Shirley Brian also sold $603,047 worth of Micron Technology, Inc. (NASDAQ:MU) shares.

More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Wsj.com which released: “Micron Technology Warns of Tight Memory-Chip Supplies” on October 04, 2016, also Profitconfidential.com with their article: “Micron Technology, Inc: Why MU Stock is Going Crazy” published on September 30, 2016, Streetinsider.com published: “Form 8-K MICRON TECHNOLOGY INC For: Oct 11” on October 11, 2016. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Fool.com and their article: “Forget Micron Technology, Inc: These 2 Stocks Are Better Buys” published on September 15, 2016 as well as Nasdaq.com‘s news article titled: “Earnings Reaction History: Micron Technology Inc., 33.3% Follow-Through …” with publication date: October 04, 2016.

MU Company Profile

Micron Technology, Inc., incorporated on April 6, 1984, is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. The Company’s business divisions include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets. The Company’s memory solutions enable computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications. The Firm markets its products through internal sales force, independent sales representatives and distributors primarily to original equipment manufacturers (OEMs) and retailers located around the world.

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