On March 29, 2023 at 10:46:03 ET an unusually large
$792.00K block of Put contracts in Micron Technology
(MU) was sold,
with a strike price of $57.50 / share, expiring in 170 days (on September 15, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was 1.52 sigmas above the mean, placing it in the 92.07 percentile of all recent large trades made in MU options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 11.91% Upside
As of March 28, 2023,
the average one-year price target for Micron Technology is $66.34.
The forecasts range from a low of $45.45 to a high of $105.00.
The average price target represents an increase of 11.91% from its latest reported closing price of $59.28.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Micron Technology
is $18,788MM, a decrease of 30.81%.
The projected annual non-GAAP EPS
is $0.19.
What is the Fund Sentiment?
There are 2229 funds or institutions reporting positions in Micron Technology.
This is a decrease
of
56
owner(s) or 2.45% in the last quarter.
Average portfolio weight of all funds dedicated to MU is 0.42%,
a decrease
of 11.20%.
Total shares owned by institutions increased
in the last three months by 2.61% to 1,046,377K shares.
The put/call ratio of MU is 1.51, indicating a
bearish
outlook.
What are Large Shareholders Doing?
Capital Research Global Investors
holds 64,750K shares
representing 5.93% ownership of the company.
In it’s prior filing, the firm reported owning 47,470K shares, representing
an increase
of 26.69%.
The firm
increased
its portfolio allocation in MU by 25.17% over the last quarter.
Sanders Capital
holds 41,038K shares
representing 3.76% ownership of the company.
In it’s prior filing, the firm reported owning 42,131K shares, representing
a decrease
of 2.66%.
The firm
decreased
its portfolio allocation in MU by 99.91% over the last quarter.
Primecap Management
holds 39,740K shares
representing 3.64% ownership of the company.
In it’s prior filing, the firm reported owning 40,434K shares, representing
a decrease
of 1.75%.
The firm
decreased
its portfolio allocation in MU by 99.91% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 33,045K shares
representing 3.03% ownership of the company.
In it’s prior filing, the firm reported owning 32,904K shares, representing
an increase
of 0.42%.
The firm
decreased
its portfolio allocation in MU by 7.48% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares
holds 25,132K shares
representing 2.30% ownership of the company.
In it’s prior filing, the firm reported owning 25,007K shares, representing
an increase
of 0.50%.
The firm
decreased
its portfolio allocation in MU by 7.64% over the last quarter.
Micron Technology Background Information
(This description is provided by the company.)
It is an industry leader in innovative memory and storage solutions. Through its global brands – Micron® and Crucial® – its broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, 3D XPoint™ memory, and NOR, is transforming how the world uses information to enrich life for all. Backed by more than 40 years of technology leadership, its memory and storage solutions enable disruptive trends, including artificial intelligence, 5G, machine learning, and autonomous vehicles, in key market segments like mobile, data center, client, consumer, industrial, graphics, automotive, and networking.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
