Investing
Unusual Put Option Trade in Micron Technology Worth $467.49K
Published:
Last Updated:
On April 17, 2023 at 09:47:45 ET an unusually large $467.49K block of Put contracts in Micron Technology (MU) was bought, with a strike price of $70.00 / share, expiring in 95 day(s) (on July 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.31 sigmas above the mean, placing it in the 88.33th 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.
What is the Fund Sentiment?
There are 2218 funds or institutions reporting positions in Micron Technology. This is a decrease of 61 owner(s) or 2.68% in the last quarter. Average portfolio weight of all funds dedicated to MU is 0.41%, a decrease of 12.07%. Total shares owned by institutions increased in the last three months by 1.89% to 1,039,435K shares. The put/call ratio of MU is 1.48, indicating a bearish outlook.
Analyst Price Forecast Suggests 9.69% Upside
As of April 6, 2023, the average one-year price target for Micron Technology is $68.70. The forecasts range from a low of $45.45 to a high of $105.00. The average price target represents an increase of 9.69% from its latest reported closing price of $62.63.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Micron Technology is $18,788MM, a decrease of 18.54%. The projected annual non-GAAP EPS is $0.19.
What are Other Shareholders Doing?
DTLVX – Large Company Value Portfolio Investment Class holds 20K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 18K shares, representing an increase of 6.96%. The firm increased its portfolio allocation in MU by 0.90% over the last quarter.
Rhumbline Advisers holds 2,099K shares representing 0.19% ownership of the company. In it’s prior filing, the firm reported owning 2,039K shares, representing an increase of 2.83%. The firm decreased its portfolio allocation in MU by 7.35% over the last quarter.
Sumitomo Life Insurance holds 15K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 15K shares, representing a decrease of 4.54%. The firm decreased its portfolio allocation in MU by 99.83% over the last quarter.
Squarepoint Ops holds 102K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 933K shares, representing a decrease of 811.26%. The firm decreased its portfolio allocation in MU by 91.43% over the last quarter.
FIKDX – Kempner Multi-Cap Deep Value Fund Institutional Class holds 44K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 36K shares, representing an increase of 18.24%. The firm increased its portfolio allocation in MU by 18.65% over the last quarter.
Micron Technology Declares $0.12 Dividend
On March 28, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.46 annualized). Shareholders of record as of April 10, 2023 will receive the payment on April 25, 2023. Previously, the company paid $0.12 per share.
At the current share price of $62.63 / share, the stock’s dividend yield is 0.73%. Looking back five years and taking a sample every week, the average dividend yield has been 0.84%, the lowest has been 0.42%, and the highest has been 1.59%. The standard deviation of yields is 0.25 (n=237).
The current dividend yield is 0.42 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.31. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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.
See all Micron Technology regulatory filings.
This article originally appeared on Fintel
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
