Spot Trading L.l.c buys $7,936,044 stake in Micron Technology (MU)

Micron Technology (MU) : Spot Trading L.l.c scooped up 146,766 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 587,420 shares of Micron Technology which is valued at $7,936,044.Micron Technology makes up approximately 1.06% of Spot Trading L.l.c’s portfolio.

Other Hedge Funds, Including , Ipswich Investment Management reduced its stake in MU by selling 2,600 shares or 16.51% in the most recent quarter. The Hedge Fund company now holds 13,150 shares of MU which is valued at $177,657. Micron Technology makes up approx 0.09% of Ipswich Investment Management’s portfolio.Signaturefd reduced its stake in MU by selling 7,412 shares or 91.66% in the most recent quarter. The Hedge Fund company now holds 674 shares of MU which is valued at $9,261. Cumberland Partners Ltd sold out all of its stake in MU during the most recent quarter. The investment firm sold 10,000 shares of MU which is valued $141,900.Strs Ohio reduced its stake in MU by selling 321,051 shares or 18.2% in the most recent quarter. The Hedge Fund company now holds 1,442,669 shares of MU which is valued at $20,471,473. Micron Technology makes up approx 0.09% of Strs Ohio’s portfolio.Chevy Chase Trust Holdings boosted its stake in MU in the latest quarter, The investment management firm added 351,710 additional shares and now holds a total of 2,535,676 shares of Micron Technology which is valued at $32,000,231. Micron Technology makes up approx 0.18% of Chevy Chase Trust Holdings’s portfolio.

Micron Technology closed down -0.1 points or -0.69% at $14.42 with 1,61,63,524 shares getting traded on Monday. Post opening the session at $14.53, the shares hit an intraday low of $14.38 and an intraday high of $14.72 and the price fluctuated in this range throughout the day.Shares ended Monday 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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