Towle Co Exits Position in Micron Technology (MU)

Micron Technology (MU) : Towle Co has sold out all of its stake in Micron Technology during the most recent quarter, according to the disclosure filed by the company on Aug 3, 2016 with the SEC. The investment management company has sold out 310 shares of Micron Technology which is valued at $4,188.

Other Hedge Funds, Including , Capwealth Advisors reduced its stake in MU by selling 1,000 shares or 1.52% in the most recent quarter. The Hedge Fund company now holds 64,685 shares of MU which is valued at $873,894. Micron Technology makes up approx 0.21% of Capwealth Advisors’s portfolio.Huntington National Bank reduced its stake in MU by selling 2,045 shares or 47.5% in the most recent quarter. The Hedge Fund company now holds 2,260 shares of MU which is valued at $32,069.Parkwood reduced its stake in MU by selling 11,589 shares or 8.73% in the most recent quarter. The Hedge Fund company now holds 121,231 shares of MU which is valued at $1,591,763. Micron Technology makes up approx 0.26% of Parkwood’s portfolio.Ls Investment Advisors boosted its stake in MU in the latest quarter, The investment management firm added 2,790 additional shares and now holds a total of 31,141 shares of Micron Technology which is valued at $408,881. Micron Technology makes up approx 0.03% of Ls Investment Advisors’s portfolio. 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.

Micron Technology closed down -0.1 points or -0.69% at $14.42 with 1,61,63,524 shares getting traded on Monday. Post opening the session at $14.53, the shares hit an intraday low of $14.38 and an intraday high of $14.72 and the price fluctuated in this range throughout the day.Shares ended Monday 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. 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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