Hilltop Park Associates adds Micron Technology (MU) to its portfolio

Micron Technology (MU) : Hilltop Park Associates added new position in Micron Technology during the most recent quarter end. The investment management firm now holds 50,000 shares of Micron Technology which is valued at $721,500 , the company said in a statement filed on Aug 8, 2016 with the SEC.Micron Technology makes up approximately 10.13% of Hilltop Park Associates’s portfolio.

Other Hedge Funds, Including , Compton Capital Management Inc Ri reduced its stake in MU by selling 800 shares or 6.76% in the most recent quarter. The Hedge Fund company now holds 11,030 shares of MU which is valued at $159,163. Micron Technology makes up approx 0.09% of Compton Capital Management Inc Ri’s portfolio. Dupont Capital Management Corp sold out all of its stake in MU during the most recent quarter. The investment firm sold 79,995 shares of MU which is valued $1,080,732. Quantitative Systematic Strategies added MU to its portfolio by purchasing 13,523 company shares during the most recent quarter which is valued at $185,806. Micron Technology makes up approx 0.08% of Quantitative Systematic Strategies’s portfolio.Partnerre Asset Management Corp reduced its stake in MU by selling 300 shares or 4.1% in the most recent quarter. The Hedge Fund company now holds 7,022 shares of MU which is valued at $93,673. Micron Technology makes up approx 0.05% of Partnerre Asset Management Corp’s portfolio.

Micron Technology opened for trading at $15.09 and hit $15.695 on the upside on Monday, eventually ending the session at $15.53, with a gain of 4.02% or 0.6 points. The heightened volatility saw the trading volume jump to 2,91,05,196 shares. Company has a market cap of $16,126 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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