Donald Smith buys $146,060,184 stake in Micron Technology (MU)

Micron Technology (MU) : Donald Smith scooped up 498,493 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 14,620,639 shares of Micron Technology which is valued at $146,060,184.Micron Technology makes up approximately 3.82% of Donald Smith’s portfolio.

Other Hedge Funds, Including , Scout Investments sold out all of its stake in MU during the most recent quarter. The investment firm sold 196,736 shares of MU which is valued $1,965,393. Flossbach Von Storch Ag sold out all of its stake in MU during the most recent quarter. The investment firm sold 667,500 shares of MU which is valued $6,668,325.Regentatlantic Capital reduced its stake in MU by selling 2,865 shares or 17.01% in the most recent quarter. The Hedge Fund company now holds 13,980 shares of MU which is valued at $149,027. Micron Technology makes up approx 0.01% of Regentatlantic Capital’s portfolio. Highstreet Asset Management sold out all of its stake in MU during the most recent quarter. The investment firm sold 98,707 shares of MU which is valued $1,052,217.Next Financial Group Inc boosted its stake in MU in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 1,264 shares of Micron Technology which is valued at $13,474.

Micron Technology opened for trading at $9.94 and hit $10.11 on the upside on Tuesday, eventually ending the session at $10.09, with a gain of 2.23% or 0.22 points. The heightened volatility saw the trading volume jump to 1,96,08,163 shares. Company has a market cap of $10,464 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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