Gibraltar Capital Management Lowers stake in Micron Technology (MU)

Micron Technology (MU) : Gibraltar Capital Management reduced its stake in Micron Technology by 1.75% during the most recent quarter end. The investment management company now holds a total of 217,520 shares of Micron Technology which is valued at $2,938,695 after selling 3,885 shares in Micron Technology , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Micron Technology makes up approximately 3.42% of Gibraltar Capital Management’s portfolio.

Other Hedge Funds, Including , Strs Ohio reduced its stake in MU by selling 321,051 shares or 18.2% in the most recent quarter. The Hedge Fund company now holds 1,442,669 shares of MU which is valued at $20,471,473. Micron Technology makes up approx 0.09% of Strs Ohio’s portfolio.Goelzer Investment Management boosted its stake in MU in the latest quarter, The investment management firm added 8,568 additional shares and now holds a total of 241,952 shares of Micron Technology which is valued at $3,176,830. Micron Technology makes up approx 0.42% of Goelzer Investment Management’s portfolio. Quantres Asset Management Ltd added MU to its portfolio by purchasing 31,300 company shares during the most recent quarter which is valued at $410,969. Micron Technology makes up approx 0.24% of Quantres Asset Management Ltd’s portfolio.

Micron Technology opened for trading at $13.61 and hit $14.195 on the upside on Thursday, eventually ending the session at $14.03, with a gain of 3.85% or 0.52 points. The heightened volatility saw the trading volume jump to 2,34,00,072 shares. Company has a market cap of $14,569 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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