Keywise Capital Management Ltd Exits Position in Micron Technology (MU)

Micron Technology (MU) : Keywise Capital Management Ltd has sold out all of its stake in Micron Technology during the most recent quarter, according to the disclosure filed by the company on Apr 26, 2016 with the SEC. The investment management company has sold out 2,184,000 shares of Micron Technology which is valued at $23,478,000.

Micron Technology closed down -0.13 points or -1.21% at $10.62 with 2,37,94,773 shares getting traded on Monday. Post opening the session at $10.8, the shares hit an intraday low of $10.43 and an intraday high of $10.86 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Alpha Omega Wealth Management sold out all of its stake in MU during the most recent quarter. The investment firm sold 2,000 shares of MU which is valued $21,320. Atria Investments sold out all of its stake in MU during the most recent quarter. The investment firm sold 12,875 shares of MU which is valued $137,248. Deane Retirement Strategies added MU to its portfolio by purchasing 101,000 company shares during the most recent quarter which is valued at $1,076,660. Micron Technology makes up approx 1.01% of Deane Retirement Strategies’s portfolio.W.g. Shaheen Associates Dba Whitney Co reduced its stake in MU by selling 1,900 shares or 10.19% in the most recent quarter. The Hedge Fund company now holds 16,750 shares of MU which is valued at $179,058. Micron Technology makes up approx 0.08% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.

On the company’s financial health, Micron Technology reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Mar 30, 2016. Analyst had a consensus of $-0.09. The company had revenue of $2934.00 million for the quarter, compared to analysts expectations of $3047.12 million. The company’s revenue was down -29.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.81 EPS.

Many Wall Street Analysts have commented on Micron Technology. Micron Technology was Initiated by Brean Capital to “Buy” on Apr 15, 2016. Micron Technology was Upgraded by Raymond James to ” Strong Buy” on Apr 15, 2016. Micron Technology was Downgraded by Bernstein to ” Mkt Perform” on Mar 31, 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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