Credit Capital Investments buys $12,627,594 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 Aug 9, 2016. The investment management firm now holds a total of 875,700 shares of Micron Technology which is valued at $12,627,594.Micron Technology makes up approximately 9.45% of Credit Capital Investments’s portfolio.

Other Hedge Funds, Including , Brown Advisory Inc reduced its stake in MU by selling 608,821 shares or 75.66% in the most recent quarter. The Hedge Fund company now holds 195,854 shares of MU which is valued at $2,824,215. Micron Technology makes up approx 0.01% of Brown Advisory Inc’s portfolio.Sheaff Brock Investment Advisors reduced its stake in MU by selling 16,450 shares or 35.16% in the most recent quarter. The Hedge Fund company now holds 30,335 shares of MU which is valued at $440,464. Micron Technology makes up approx 0.05% of Sheaff Brock Investment Advisors’s portfolio. Calvert Investment Management added MU to its portfolio by purchasing 59,078 company shares during the most recent quarter which is valued at $857,813. Micron Technology makes up approx 0.04% of Calvert Investment Management’s portfolio. Palo Capital sold out all of its stake in MU during the most recent quarter. The investment firm sold 26,220 shares of MU which is valued $344,269.

Micron Technology opened for trading at $15.53 and hit $15.76 on the upside on Wednesday, eventually ending the session at $15.52, with a gain of 0.19% or 0.03 points. The heightened volatility saw the trading volume jump to 2,25,52,119 shares. Company has a market cap of $16,116 M.

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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