Will Micron Technology, Inc. Go Down Anytime Soon?

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The stock of Micron Technology, Inc. (NASDAQ:MU) is a huge mover today! The stock is up 4.57% or $0.68 after the news, hitting $15.57 per share. About 13.75M shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has declined 47.14% since April 15, 2015 and is downtrending. It has underperformed by 44.61% the S&P500.
The move comes after 5 months positive chart setup for the $16.91B company. It was reported on Nov, 17 by Barchart.com. We have $22.42 PT which if reached, will make NASDAQ:MU worth $7.44 billion more.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to reports earnings on January, 5. They expect $0.23 EPS, down 76.29% or $0.74 from last year’s $0.97 per share. MU’s profit will be $249.78 million for 16.93 P/E if the $0.23 EPS becomes reality. After $0.37 actual EPS reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts -37.84% negative EPS growth.

Out of 22 analysts covering Micron Technology Inc. (NASDAQ:MU), 13 rate it “Buy”, 1 “Sell”, while 8 “Hold”. This means 59% are positive. Micron Technology Inc. was the topic in 38 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Needham downgraded the stock on October 21 to “Hold” rating.

According to Zacks, “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.”

The institutional sentiment decreased to 0.86 in Q2 2015. Its down 0.11, from 0.97 in 2015Q1. The ratio turned negative, as 127 funds sold all Micron Technology, Inc. shares owned while 237 reduced positions. 77 funds bought stakes while 236 increased positions. They now own 928.62 million shares or 6.13% less from 989.22 million shares in 2015Q1.

Credit Capital Investments Llc holds 15.62% of its portfolio in Micron Technology, Inc. for 1.33 million shares. Alken Asset Management Ltd. owns 14.07 million shares or 15.57% of their US portfolio. Moreover, Hawkeye Capital Management Llc has 14.09% invested in the company for 1.13 million shares. The California-based Dalton Investments Llc has invested 12.09% in the stock. Greenlight Capital Inc, a New York-based fund reported 37.95 million shares.

Since April 20, 2015, the stock had 0 buys, and 3 insider sales for $1.17 million net activity. Bailey Robert L sold 4,000 shares worth $80,002. Deboer Scott J sold 39,087 shares worth $977,437. Shirley Brian sold 89,750 shares worth $2.58 million. Johnson Mercedes sold 18,250 shares worth $509,540.

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