Black Maple Capital Management Lp buys $2,141,813 stake in Micron Technology (MU)

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 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Micron Technology - Is it time to Sell?

Top Brokerage Firms are advising their investors on Micron Technology. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.