Micron Technology (MU) : Black Maple Capital Management Lp scooped up 23,667 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 143,457 shares of Micron Technology which is valued at $2,141,813.Micron Technology makes up approximately 5.49% of Black Maple Capital Management Lp’s portfolio.
Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan reduced its stake in MU by selling 2,400 shares or 6.82% in the most recent quarter. The Hedge Fund company now holds 32,780 shares of MU which is valued at $489,405. Micron Technology makes up approx 0.03% of Municipal Employees’ Retirement System Of Michigan’s portfolio. Commerce Bank added MU to its portfolio by purchasing 10,622 company shares during the most recent quarter which is valued at $153,275.Norinchukin Bank The boosted its stake in MU in the latest quarter, The investment management firm added 1,152 additional shares and now holds a total of 54,395 shares of Micron Technology which is valued at $784,920. Micron Technology makes up approx 0.02% of Norinchukin Bank The’s portfolio. Hilltop Park Associates added MU to its portfolio by purchasing 50,000 company shares during the most recent quarter which is valued at $721,500. Micron Technology makes up approx 10.13% of Hilltop Park Associates’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 Companys 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.