First Dallas Securities buys $1,015,295 stake in Micron Technology (MU)

Micron Technology (MU) : First Dallas Securities scooped up 39,880 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 71,550 shares of Micron Technology which is valued at $1,015,295.Micron Technology makes up approximately 0.75% of First Dallas Securities’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co added MU to its portfolio by purchasing 95,780 company shares during the most recent quarter which is valued at $1,359,118. Micron Technology makes up approx 0.01% of Rs Investment Management Co’s portfolio.Huntington National Bank reduced its stake in MU by selling 2,045 shares or 47.5% in the most recent quarter. The Hedge Fund company now holds 2,260 shares of MU which is valued at $32,069.Oakbrook Investments reduced its stake in MU by selling 2,400 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 108,800 shares of MU which is valued at $1,428,544. Micron Technology makes up approx 0.08% of Oakbrook Investments’s portfolio.Gulf International Bank (uk) Ltd reduced its stake in MU by selling 1,400 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 315,079 shares of MU which is valued at $4,187,400. Micron Technology makes up approx 0.07% of Gulf International Bank (uk) Ltd’s portfolio.

Micron Technology closed down -0.07 points or -0.51% at $13.74 with 2,17,92,899 shares getting traded on Friday. Post opening the session at $13.91, the shares hit an intraday low of $13.62 and an intraday high of $13.94 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Micron Technology reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 30, 2016. Analyst had a consensus of $-0.10. The company had revenue of $2898.00 million for the quarter, compared to analysts expectations of $2955.50 million. The company’s revenue was down -24.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Micron Technology. Company shares were Reiterated by Mizuho on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .Shares were Reiterated by Stifel on Jul 1, 2016 to “Buy” and Lowered the Price Target to $ 15 from a previous price target of $16 .Company shares were Upgraded by Nomura on Jun 23, 2016 to ” Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $8 .

Micron Technology Inc. is a global provider of semiconductor devices. Through the Company’s global operations it manufactures and markets a full range of Dynamic Random Access Memory (DRAM) NAND Flash and NOR Flash memory as well as other memory technologies packaging solutions and semiconductor systems for use in leading-edge computing consumer networking automotive industrial embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU) which includes DRAM and NOR Flash products; Mobile Business Unit (MBU) which includes DRAM NAND Flash and NOR Flash products; Storage Business Unit (SBU) which includes NAND Flash components and Solid-State Drives (SSDs) cloud and removable storage markets. SBU also includes NAND Flash products and Embedded Business Unit (EBU) which includes DRAM NAND Flash and NOR Flash products.

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