Equitec Specialists adds Micron Technology (MU) to its portfolio

Micron Technology (MU) : Equitec Specialists added new position in Micron Technology during the most recent quarter end. The investment management firm now holds 15,123 shares of Micron Technology which is valued at $198,565 , the company said in a statement filed on Jul 21, 2016 with the SEC.Micron Technology makes up approximately 0.05% of Equitec Specialists’s portfolio.

Other Hedge Funds, Including , Eagle Asset Management Inc added MU to its portfolio by purchasing 795,309 company shares during the most recent quarter which is valued at $10,808,249. Micron Technology makes up approx 0.07% of Eagle Asset Management Inc’s portfolio.Eastern Bank reduced its stake in MU by selling 6,183 shares or 28.34% in the most recent quarter. The Hedge Fund company now holds 15,635 shares of MU which is valued at $208,571. Micron Technology makes up approx 0.02% of Eastern Bank’s portfolio.

Micron Technology closed down -0.38 points or -2.68% at $13.81 with 2,54,80,357 shares getting traded on Thursday. Post opening the session at $14.13, the shares hit an intraday low of $13.7 and an intraday high of $14.19 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. 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 was Upgraded by Susquehanna to ” Positive” on Jun 23, 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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