Micron Technology Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Benzinga's options scanner detected over 17 options trades for Micron Technology (NASDAQ:MU) totaling $928,536. Whales have been targeting a price range of $55.0 to $85.0 for the stock over the last 3 months. Citigroup downgraded its action to Buy with a price target of $75, while BMO Capital and Wells Fargo maintained their Outperform and Overweight ratings with price targets of $80 and $82, respectively.
June 06, 2023 | 3:17 pm
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Micron Technology (NASDAQ:MU) sees over 17 options trades totaling $928,536. Whales target price range of $55-$85. Analysts: Citigroup $75, BMO Capital $80, Wells Fargo $82.
The detected options trades and whale targeting indicate increased interest in Micron Technology's stock. However, the short-term impact on the stock price is uncertain as the targeted price range is wide ($55-$85). Analysts have mixed opinions, with Citigroup downgrading its action to Buy with a price target of $75, while BMO Capital and Wells Fargo maintain their positive ratings with price targets of $80 and $82, respectively. The overall impact on the stock price in the short term is neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100