Micron Technology Inc (NASDAQ:MU) stock is 8.2% higher to trade at a fresh record high of $365.81 at last glance, following news that board member and director Mark Liu bought $7.8 million in shares, per a Securities and Exchange Commission (SEC) filing.
In response, Barclays and Citigroup raised their price objectives from $275 and $330 to $450 and $385, respectively. More price-target hikes could be in store, too, as MU's 12-month consensus target price of $326.94 is now an 9.5% discount to current levels.
Today's gains put the equity on track for an eighth-straight weekly gain. The shares have enjoyed support from the $320 level in the past week, and staged bounces off the rising 60-day moving average in November and December. Longer term, MU sports a 247.4% year-over-year lead.
Options traders lean bearish on Micron Technology stock, per its Schaeffer's put/call open interest ratio (SOIR) of 1.31 that sits in the 97th percentile of its annual range. This means an unwinding of pessimism could generate tailwinds for the security. Plus, its Schaeffer's Volatility Scorecard (SVS) of 88 out of 100 indicates MU has consistently realized higher volatility than its options have priced in.
Within the first half our of trading, 190,000 calls and 178,000 puts have crossed the tape, which is four times the intraday average volume. Most popular by far is the January 2026 360-strike call, with positions being opened here, set to expire after the close.
