The stock of Micron Technology, Inc. (NASDAQ:MU) is a huge mover today! About 4.72 million shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has risen 47.94% since March 11, 2016 and is uptrending. It has outperformed by 42.48% the S&P500.
The move comes after 6 months positive chart setup for the $18.06 billion company. It was reported on Oct, 14 by Barchart.com. We have $24.94 PT which if reached, will make NASDAQ:MU worth $7.95B more.
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 101 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock has “Overweight” rating given by Piper Jaffray on Tuesday, August 11. The firm earned “Buy” rating on Thursday, December 24 by Argus Research. The stock has “Buy” rating given by UBS on Monday, March 21. Mizuho maintained it with “Buy” rating and $13 target price in Tuesday, February 23 report. Barclays Capital maintained it with “Outperform” rating and $23 target price in Wednesday, October 5 report. On Monday, March 21 the stock rating was maintained by Deutsche Bank with “Buy”. As per Monday, August 17, the company rating was downgraded by Wedbush. The stock has “Overweight” rating given by Morgan Stanley on Thursday, December 17. The company was maintained on Friday, October 2 by Morgan Stanley. The rating was maintained by Morgan Stanley with “Overweight” on Tuesday, August 30.
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 improved, 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.
Burt Wealth has 2,030 shares for 0.03% of their US portfolio. Canada Pension Plan Board, a Ontario – Canada-based fund reported 398,201 shares. Capstone Asset last reported 73,226 shares in the company. Icm Asset Mgmt Wa reported 132,105 shares or 2.65% of all its holdings. Everence Mngmt has 21,870 shares for 0.09% of their US portfolio. Sentinel Trust Lba has 0.42% invested in the company for 215,061 shares. Cibc World Markets accumulated 0.01% or 127,890 shares. Louisiana State Employees Retirement Sys accumulated 0.05% or 68,000 shares. Cap Guardian Trust Com, a California-based fund reported 521 shares. State Board Of Administration Of Florida Retirement System, a Florida-based fund reported 1.62 million shares. Ladenburg Thalmann Fincl Ser Incorporated accumulated 0.01% or 62,261 shares. Moreover, Comerica State Bank has 0.03% invested in Micron Technology, Inc. (NASDAQ:MU) for 259,339 shares. Ubs Asset Management Americas holds 0.14% or 8.85 million shares in its portfolio. Moreover, Levin Strategies L P has 0% invested in Micron Technology, Inc. (NASDAQ:MU) for 12,000 shares. Commercial Bank Hapoalim Bm accumulated 103,565 shares or 0.33% of the stock.
Insider Transactions: Since July 5, 2016, the stock had 0 buys, and 4 insider sales for $2.95 million net activity. On Monday, August 29 the insider Deboer Scott J sold $537,047. ARNZEN APRIL S also sold $202,385 worth of Micron Technology, Inc. (NASDAQ:MU) on Thursday, October 6. Shares for $1.61 million were sold by Shirley Brian on Tuesday, October 4.
More important recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Fool.com which released: “Better Buy: Micron Technology Inc. vs. Qualcomm Inc” on October 13, 2016, also Profitconfidential.com published article titled: “Micron Technology, Inc: Why MU Stock is Going Crazy”, Fool.com published: “Forget Micron Technology, Inc: These 2 Stocks Are Better Buys” on September 15, 2016. More interesting news about Micron Technology, Inc. (NASDAQ:MU) was released by: Nasdaq.com and their article: “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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