The stock of Micron Technology, Inc. (NASDAQ:MU) is a huge mover today! About 12.87 million shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has risen 62.58% since April 11, 2016 and is uptrending. It has outperformed by 56.44% the S&P500.
The move comes after 6 months positive chart setup for the $17.81B company. It was reported on Nov, 11 by Barchart.com. We have $22.52 PT which if reached, will make NASDAQ:MU worth $5.34 billion 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 of Micron Technology, Inc. (NASDAQ:MU) has “Neutral” rating given on Tuesday, February 16 by Nomura. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Outperform” rating by Raymond James on Wednesday, December 23. The firm has “Underperform” rating given on Wednesday, October 21 by Bank of America. The company was maintained on Tuesday, December 15 by Maxim Group. Robert W. Baird maintained the stock with “Outperform” rating in Wednesday, October 5 report. Bernstein maintained it with “Market Perform” rating and $11 target price in Wednesday, May 18 report. As per Wednesday, September 21, the company rating was maintained by Nomura. Standpoint Research downgraded the shares of MU in a report on Monday, August 29 to “Hold” rating. The firm earned “Overweight” rating on Thursday, December 17 by Morgan Stanley. The rating was maintained by Stifel Nicolaus on Friday, July 1 with “Buy”.
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 Q2 2016. Its up 0.28, from 0.88 in 2016Q1. The ratio is positive, 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.
Swiss Bank & Trust owns 2.91 million shares or 0.06% of their US portfolio. Moreover, Fifth Third Bank & Trust has 0% invested in Micron Technology, Inc. (NASDAQ:MU) for 6,584 shares. Ngam Advisors Ltd Partnership reported 188,475 shares or 0.04% of all its holdings. Goldman Sachs Grp Inc accumulated 0.06% or 12.48M shares. Meiji Yasuda Life has 34,736 shares for 0.08% of their US portfolio. Frontier Limited Liability Com last reported 2,378 shares in the company. Odey Asset Mgmt Ltd has 255,500 shares for 0.31% of their US portfolio. Parkside National Bank holds 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 183 shares. Buckingham Capital Mgmt holds 237,000 shares or 0.4% of its portfolio. Com State Bank has invested 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). The New Jersey-based Gargoyle Investment Advisor Ltd Liability Co has invested 0.22% in Micron Technology, Inc. (NASDAQ:MU). British Columbia Invest Mgmt accumulated 431,035 shares or 0.05% of the stock. The Massachusetts-based Liberty Mutual Group Asset Management has invested 0.04% in Micron Technology, Inc. (NASDAQ:MU). Pine River Mgmt Ltd Partnership accumulated 0.1% or 622,271 shares. Metropolitan Life Insurance Ny has 538,112 shares for 0.06% of their US portfolio.
Insider Transactions: Since July 5, 2016, the stock had 0 insider buys, and 6 insider sales for $4.08 million net activity. Another trade for 90,014 shares valued at $1.61 million was sold by Shirley Brian. Another trade for 31,500 shares valued at $537,047 was made by Deboer Scott J on Monday, August 29. DURCAN DERMOT MARK had sold 1,803 shares worth $23,951. The insider ARNZEN APRIL S sold $202,385. Another trade for 63,000 shares valued at $1.11 million was sold by Thorsen Steven L. JR.
More recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Fool.com which released: “Better Buy: Micron Technology, Inc. vs. Intel Corp.” on October 29, 2016. Also Fool.com published the news titled: “Better Buy: Micron Technology Inc. vs. Qualcomm Inc” on October 13, 2016. Profitconfidential.com‘s news article titled: “Micron Technology, Inc.: These Indicators Are Fueling MU Stock” with publication date: October 27, 2016 was also an interesting one.
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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