Stanley Shopkorn increased its stake in Micron Technology Inc (MU) by 400% based on its latest 2016Q3 regulatory filing with the SEC. Hilltop Park Associates Llc bought 200,000 shares as the company’s stock rose 42.24% with the market. The hedge fund run by Stanley Shopkorn held 250,000 shares of the technology company at the end of 2016Q3, valued at $4.45M, up from 50,000 at the end of the previous reported quarter. Hilltop Park Associates Llc who had been investing in Micron Technology Inc for a number of months, seems to be bullish on the $23.79B market cap company. The stock increased 0.63% or $0.14 during the last trading session, hitting $22.48. About 30 shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has risen 72.92% since June 7, 2016 and is uptrending. It has outperformed by 65.50% the S&P500.
Hilltop Park Associates Llc, which manages about $351.70M and $54.05 million US Long portfolio, decreased its stake in General Mls Inc (Call) (NYSE:GIS) by 100,000 shares to 25,000 shares, valued at $1.59M in 2016Q3, according to the filing.
Stanley Shopkorn and Douglas Day worked together at Douis Bacon’s Moore Capital Management until 2009, when they broke away to co-found a hedge fund focusing on long/short equity. They named their firm Hilltop Park Associates. Hilltop Park Associates Llc is a New York-based hedge fund that was founded by Stanley Shopkorn And Douglas Day. It had more than $351.70 million assets under management in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Hilltop Park Associates latest Adv, the fund reported to have 7 full and part-time employees. Among which 6 performing investment advisory and research functions. The hedge fund had between 1-10 clients.
Insitutional Activity: The institutional sentiment decreased to 0.98 in Q3 2016. Its down 0.18, from 1.16 in 2016Q2. The ratio is negative, as 68 funds sold all MU shares owned while 204 reduced positions. 88 funds bought stakes while 179 increased positions. They now own 839.25 million shares or 4.02% more from 806.79 million shares in 2016Q2. Creative Planning last reported 0.02% of its portfolio in the stock. Moreover, Joel Isaacson Limited Company has 0% invested in Micron Technology, Inc. (NASDAQ:MU) for 1,000 shares. Manufacturers Life Insurance Comm The accumulated 1.16 million shares or 0.03% of the stock. Fmr Limited Company reported 30.40 million shares or 0.07% of all its holdings. Majedie Asset Management Ltd holds 105,120 shares or 0.3% of its portfolio. Svcs holds 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 294 shares. Moreover, Frontier Cap Mgmt Communication Ltd Limited Liability Company has 0% invested in Micron Technology, Inc. (NASDAQ:MU) for 2,378 shares. Virtus Invest Advisers holds 0.05% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 40,521 shares. Dnb Asset As has invested 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Lord Abbett And Co Ltd Co has invested 0.04% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). State Treasurer State Of Michigan has 362,420 shares for 0.05% of their US portfolio. Cambridge Inv Research Advsrs holds 0.01% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 37,367 shares. Valley National Advisers owns 400 shares or 0% of their US portfolio. Amica Pension Fund Board Of Trustees has invested 0.12% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Greylin Mangement owns 70,480 shares or 0.31% of their US portfolio.
Insider Transactions: Since July 18, 2016, the stock had 0 insider purchases, and 9 sales for $8.16 million net activity. Deboer Scott J sold $1.12M worth of stock or 48,780 shares. Thorsen Steven L. JR sold $1.11M worth of stock or 63,000 shares. 90,014 shares were sold by Shirley Brian, worth $1.61M on Tuesday, October 4. On Thursday, October 6 the insider ARNZEN APRIL S sold $202,385. Another trade for 1,803 shares valued at $23,951 was sold by DURCAN DERMOT MARK.
More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Fool.com which released: “Why Micron Technology, Inc. Gained 55% in 2016” on January 03, 2017, also Fool.com with their article: “Will 2017 Be Micron Technology, Inc.’s Best Year Yet?” published on December 31, 2016, Fool.com published: “How Risky Is Micron Technology, Inc.?” on December 21, 2016. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Fool.com and their article: “Micron Technology, Inc. Executes Well in Graphics” published on December 27, 2016 as well as Investorplace.com‘s news article titled: “Why Micron Technology, Inc. (MU) Is a Good-Lookin’ Stock” with publication date: December 16, 2016.
According to Zacks Investment Research, “Micron Technology, Inc. has established itself as one of the leading worldwide providers of semiconductor memory solutions. The company’s quality memory solutions serve customers in a variety of industries including computer and computer-peripheral manufacturing, consumer electronics, CAD/CAM, telecommunications, office automation, network and data processing, and graphics display. The company’s mission is to be the most efficient and innovative global provider of semiconductor memory solutions.”
Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage
Out of 36 analysts covering Micron Technology Inc. (NASDAQ:MU), 28 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 78% are positive. Micron Technology Inc. has been the topic of 111 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Bernstein maintained the stock with “Market Perform” rating in Wednesday, May 18 report. The rating was maintained by JP Morgan on Thursday, March 31 with “Overweight”. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Wednesday, October 12 by Cowen & Co. The rating was downgraded by Standpoint Research to “Hold” on Monday, August 29. Morgan Stanley upgraded the shares of MU in a report on Thursday, December 17 to “Overweight” rating. The rating was upgraded by Needham to “Buy” on Thursday, December 22. Maxim Group maintained Micron Technology, Inc. (NASDAQ:MU) rating on Tuesday, December 15. Maxim Group has “Buy” rating and $15.0 price target. The firm earned “Neutral” rating on Monday, August 17 by Wedbush. The firm has “Outperform” rating by Credit Suisse given on Wednesday, October 5. The firm has “Market Perform” rating given on Monday, September 28 by Cowen & Co.
MU Company Profile
Micron Technology, Inc., incorporated on April 6, 1984, is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. The Company’s business divisions include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets. The Company’s memory solutions enable computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications. The Firm markets its products through internal sales force, independent sales representatives and distributors primarily to original equipment manufacturers (OEMs) and retailers located around the world.
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