Ipg Investment Advisors buys $12,821,809 stake in Micron Technology (MU)

Micron Technology (MU) : Ipg Investment Advisors scooped up 3,490 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 858,795 shares of Micron Technology which is valued at $12,821,809.Micron Technology makes up approximately 5.11% of Ipg Investment Advisors’s portfolio.

Other Hedge Funds, Including , Blackrock Investment Management boosted its stake in MU in the latest quarter, The investment management firm added 319,881 additional shares and now holds a total of 2,916,463 shares of Micron Technology which is valued at $43,542,793. Micron Technology makes up approx 0.05% of Blackrock Investment Management’s portfolio.Parnassus Investments Ca boosted its stake in MU in the latest quarter, The investment management firm added 2,281,433 additional shares and now holds a total of 27,924,543 shares of Micron Technology which is valued at $402,671,910. Micron Technology makes up approx 2.36% of Parnassus Investments Ca’s portfolio.Hgk Asset Management Inc reduced its stake in MU by selling 33,805 shares or 3.43% in the most recent quarter. The Hedge Fund company now holds 951,925 shares of MU which is valued at $13,821,951. Micron Technology makes up approx 1.99% of Hgk Asset Management Inc’s portfolio.

Micron Technology opened for trading at $16.16 and hit $16.45 on the upside on Friday, eventually ending the session at $16.25, with a gain of 3.04% or 0.48 points. The heightened volatility saw the trading volume jump to 3,50,59,370 shares. Company has a market cap of $16,874 M.

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 22, 2016 to “Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $16 .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 .

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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