Stock Update (NASDAQ:MU): Heavy call volume is bullish on Micron

[optionMONSTER] – Traders are betting that Micron Technology will rally in the next month. optionMONSTER’s market scanner shows that more than 23,000 Weekly 12.50 calls expiring on June 24 were purchased for $0.49 to $0.66 … Read more on this. Micron Technology, Inc. (MU) , valued at $12.77B, opened at $11.97. Today’s price range has been between $11.83 and $12.43 per share with a one year range of $9.31 to $28.53. MU shares are currently priced at 82.07x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 11.41x earnings multiple. In a review of the consensus earnings estimate this quarter, 25 sell-side analysts are looking at $-0.09 per share, which would be $0.54 better than the year-ago quarter and a $0.07 sequential increase. The full-year EPS estimate is $0.14 which would be a $2.55 worse than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.96 Billion. If reported, that would be a 23.12% decrease over the year-ago quarter. Recently, Brean Capital Initiated MU at Buy (Apr 15, 2016). Previously, Raymond James upgraded MU from Outperform to Strong Buy. When considering if the stock is under or overvalued, the average price target is $13.48, which is 12.61% above where the stock opened this morning. See more in (NASDAQ:MU) Similar Articles: Stock Update: Micron Technology Inc (NASDAQ:MU) – Bulls continue their stampede into Micron Market Update: Micron Technology Inc (NASDAQ:MU) – Here’s Why Micron Technology (MU) Stock is Advancing Today Stock Update: Micron Technology Inc (NASDAQ:MU) – Micron (MU) Stock Gains, Analysts Applaud Inotera Deal