Credit Capital Investments buys $8.4 Million stake in Micron Technology (MU)

Micron Technology (MU) : Credit Capital Investments scooped up 25,000 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 875,700 shares of Micron Technology which is valued at $8.4 Million.Micron Technology makes up approximately 6.73% of Credit Capital Investments’s portfolio.

Other Hedge Funds, Including , Sumitomo Mitsui Asset Management Company Ltd boosted its stake in MU in the latest quarter, The investment management firm added 1,229 additional shares and now holds a total of 81,980 shares of Micron Technology which is valued at $783,729. Micron Technology makes up approx 0.02% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Norges Bank boosted its stake in MU in the latest quarter, The investment management firm added 1,522,473 additional shares and now holds a total of 10,358,330 shares of Micron Technology which is valued at $99 Million. Micron Technology makes up approx 0.05% of Norges Bank’s portfolio.Banque Pictet Cie Sa boosted its stake in MU in the latest quarter, The investment management firm added 28,800 additional shares and now holds a total of 516,805 shares of Micron Technology which is valued at $5.2 Million. Micron Technology makes up approx 0.14% of Banque Pictet Cie Sa’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in MU in the latest quarter, The investment management firm added 5,908 additional shares and now holds a total of 38,878 shares of Micron Technology which is valued at $388,391. Micron Technology makes up approx 0.04% of Tokio Marine Asset Management Co Ltd’s portfolio.Tarbox Group reduced its stake in MU by selling 70 shares or 42.94% in the most recent quarter. The Hedge Fund company now holds 93 shares of MU which is valued at $1,000.

Micron Technology opened for trading at $9.61 and hit $9.69 on the upside on Monday, eventually ending the session at $9.68, with a gain of 1.26% or 0.12 points. The heightened volatility saw the trading volume jump to 1,62,47,585 shares. Company has a market cap of $10,039 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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