Dalton Investments Lowers stake in Micron Technology (MU)

Micron Technology (MU) : Dalton Investments reduced its stake in Micron Technology by 1.73% during the most recent quarter end. The investment management company now holds a total of 1,423,288 shares of Micron Technology which is valued at $19,228,621 after selling 25,000 shares in Micron Technology , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Micron Technology makes up approximately 7.51% of Dalton Investments’s portfolio.

Other Hedge Funds, Including , Spot Trading L.l.c boosted its stake in MU in the latest quarter, The investment management firm added 146,766 additional shares and now holds a total of 587,420 shares of Micron Technology which is valued at $7,936,044. Micron Technology makes up approx 1.06% of Spot Trading L.l.c’s portfolio.Retirement Systems Of Alabama boosted its stake in MU in the latest quarter, The investment management firm added 6,968 additional shares and now holds a total of 528,694 shares of Micron Technology which is valued at $7,502,168. Micron Technology makes up approx 0.04% of Retirement Systems Of Alabama’s portfolio.New York State Teachers Retirement System reduced its stake in MU by selling 82,239 shares or 4.17% in the most recent quarter. The Hedge Fund company now holds 1,889,173 shares of MU which is valued at $24,804,841. Micron Technology makes up approx 0.06% of New York State Teachers Retirement System’s portfolio.Lingohr Partner Asset Management Gmbh boosted its stake in MU in the latest quarter, The investment management firm added 20,800 additional shares and now holds a total of 89,000 shares of Micron Technology which is valued at $1,168,570. Micron Technology makes up approx 1.12% of Lingohr Partner Asset Management Gmbh’s portfolio.

Micron Technology closed down -0.1 points or -0.69% at $14.42 with 1,61,63,524 shares getting traded on Monday. Post opening the session at $14.53, the shares hit an intraday low of $14.38 and an intraday high of $14.72 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 Mizuho on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .Shares were Reiterated by Stifel on Jul 1, 2016 to “Buy” and Lowered the Price Target to $ 15 from a previous price target of $16 .Company shares were Upgraded by Nomura on Jun 23, 2016 to ” Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $8 .

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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