Gibraltar Capital Management buys $3,970,313 stake in Micron Technology (MU)

Micron Technology (MU) : Gibraltar Capital Management scooped up 9,355 additional shares in Micron Technology during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 226,875 shares of Micron Technology which is valued at $3,970,313.Micron Technology makes up approximately 4.55% of Gibraltar Capital Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp boosted its stake in MU in the latest quarter, The investment management firm added 63,689 additional shares and now holds a total of 97,625 shares of Micron Technology which is valued at $1,708,438. Micron Technology makes up approx 0.11% of Cutler Group Lp’s portfolio.Advisory Services Network boosted its stake in MU in the latest quarter, The investment management firm added 402 additional shares and now holds a total of 1,967 shares of Micron Technology which is valued at $34,639. Micron Technology makes up approx 0.01% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MU by selling 94,530 shares or 2.0% in the most recent quarter. The Hedge Fund company now holds 4,638,690 shares of MU which is valued at $82,104,813. Micron Technology makes up approx 0.34% of Bnp Paribas Arbitrage Sa’s portfolio. First American Trust Fsb added MU to its portfolio by purchasing 110,535 company shares during the most recent quarter which is valued at $1,956,470. Micron Technology makes up approx 0.61% of First American Trust Fsb’s portfolio.Washington Trust Bank boosted its stake in MU in the latest quarter, The investment management firm added 289 additional shares and now holds a total of 8,744 shares of Micron Technology which is valued at $154,769. Micron Technology makes up approx 0.04% of Washington Trust Bank’s portfolio.

Micron Technology closed down -0.64 points or -3.66% at $16.86 with 3,80,70,237 shares getting traded on Tuesday. Post opening the session at $17.4, the shares hit an intraday low of $16.53 and an intraday high of $17.47 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Micron Technology reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 4, 2016. Analyst had a consensus of $-0.11. The company had revenue of $3217.00 million for the quarter, compared to analysts expectations of $3192.19 million. The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Micron Technology. Company shares were Reiterated by Mizuho on Oct 5, 2016 to “Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .Company shares were Reiterated by Stifel on Oct 5, 2016 to “Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .Company shares were Reiterated by Nomura on Sep 21, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $20 .

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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