Amerigo Asset Management buys $178,534,684 stake in Micron Technology (MU)

Micron Technology (MU) : Amerigo Asset Management scooped up 6,018,359 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 16,701,093 shares of Micron Technology which is valued at $178,534,684.Micron Technology makes up approximately 15.02% of Amerigo Asset Management’s portfolio.

Micron Technology opened for trading at $10.63 and hit $11.1 on the upside on Monday, eventually ending the session at $10.89, with a gain of 1.87% or 0.2 points. The heightened volatility saw the trading volume jump to 2,63,72,815 shares. Company has a market cap of $11,293 M.

Other Hedge Funds, Including , Oakbrook Investments boosted its stake in MU in the latest quarter, The investment management firm added 2,400 additional shares and now holds a total of 111,200 shares of Micron Technology which is valued at $1,188,728. Micron Technology makes up approx 0.08% of Oakbrook Investments’s portfolio. Kanaly Trust Co added MU to its portfolio by purchasing 129 company shares during the most recent quarter which is valued at $1,379.Benjamin F. Edwards Company boosted its stake in MU in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 1,210 shares of Micron Technology which is valued at $12,935.Proficio Capital Partners reduced its stake in MU by selling 155 shares or 84.24% in the most recent quarter. The Hedge Fund company now holds 29 shares of MU which is valued at $303.

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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