Hap Trading buys $16.6 Million stake in Micron Technology (MU)

Micron Technology (MU) : Hap Trading scooped up 444,137 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,737,694 shares of Micron Technology which is valued at $16.6 Million.Micron Technology makes up approximately 1.92% of Hap Trading’s portfolio.

Other Hedge Funds, Including , Alken Asset Management Ltd. reduced its stake in MU by selling 6,933,239 shares or 44.11% in the most recent quarter. The Hedge Fund company now holds 8,784,879 shares of MU which is valued at $84 Million. Micron Technology makes up approx 8.37% of Alken Asset Management Ltd.’s portfolio.High Pointe Capital Management boosted its stake in MU in the latest quarter, The investment management firm added 850 additional shares and now holds a total of 49,340 shares of Micron Technology which is valued at $492,907. Micron Technology makes up approx 0.72% of High Pointe Capital Management’s portfolio.Schwab Charles Investment Management Inc boosted its stake in MU in the latest quarter, The investment management firm added 106,163 additional shares and now holds a total of 2,994,480 shares of Micron Technology which is valued at $29.9 Million. Micron Technology makes up approx 0.04% of Schwab Charles Investment Management Inc’s portfolio.Compton Capital Management Inc Ri reduced its stake in MU by selling 100 shares or 0.84% in the most recent quarter. The Hedge Fund company now holds 11,830 shares of MU which is valued at $118,182. Micron Technology makes up approx 0.07% of Compton Capital Management Inc Ri’s portfolio.

Micron Technology opened for trading at $10.31 and hit $10.8125 on the upside on Friday, eventually ending the session at $10.8, with a gain of 7.25% or 0.73 points. The heightened volatility saw the trading volume jump to 3,11,89,686 shares. Company has a market cap of $11,200 M.

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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