Arrowstreet Capital Limited Partnership Lowers stake in Micron Technology (MU)

Micron Technology (MU) : Arrowstreet Capital Limited Partnership reduced its stake in Micron Technology by 31.95% during the most recent quarter end. The investment management company now holds a total of 11,217,224 shares of Micron Technology which is valued at $167,473,154 after selling 5,265,796 shares in Micron Technology , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Micron Technology makes up approximately 0.66% of Arrowstreet Capital Limited Partnership’s portfolio.

Other Hedge Funds, Including , Arrowgrass Capital Partners (us) Lp reduced its stake in MU by selling 1,046,338 shares or 49.48% in the most recent quarter. The Hedge Fund company now holds 1,068,407 shares of MU which is valued at $15,951,317. Micron Technology makes up approx 0.38% of Arrowgrass Capital Partners (us) Lp’s portfolio.National Pension Service boosted its stake in MU in the latest quarter, The investment management firm added 62,242 additional shares and now holds a total of 843,092 shares of Micron Technology which is valued at $12,587,364. Micron Technology makes up approx 0.11% of National Pension Service’s portfolio. Calvert Investment Management added MU to its portfolio by purchasing 59,078 company shares during the most recent quarter which is valued at $857,813. Micron Technology makes up approx 0.04% of Calvert Investment Management’s portfolio.California Public Employees Retirement System boosted its stake in MU in the latest quarter, The investment management firm added 71,500 additional shares and now holds a total of 2,694,300 shares of Micron Technology which is valued at $36,399,993. Micron Technology makes up approx 0.06% of California Public Employees Retirement System’s portfolio.

Micron Technology opened for trading at $16.61 and hit $16.8 on the upside on Thursday, eventually ending the session at $16.64, with a gain of 0.91% or 0.15 points. The heightened volatility saw the trading volume jump to 1,57,19,453 shares. Company has a market cap of $17,279 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 Cowen on Sep 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 19 from a previous price target of $15 .Company shares were Reiterated by Stifel on Aug 29, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $15 .Micron Technology was Downgraded by Standpoint Research to ” Hold” on Aug 29, 2016.

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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