As Micron Technology INC (MU) Share Price Rose, Shellback Capital LP Increased Position by $16.40 Million

May 17, 2018 - By Catherine Nunes

Micron Technology, Inc. (NASDAQ:MU) LogoInvestors sentiment decreased to 1.24 in 2017 Q4. Its down 0.13, from 1.37 in 2017Q3. It worsened, as 49 investors sold MU shares while 245 reduced holdings. 126 funds opened positions while 239 raised stakes. 883.15 million shares or 0.40% less from 886.67 million shares in 2017Q3 were reported. Arizona State Retirement Systems stated it has 405,370 shares or 0.16% of all its holdings. Bbr Lc owns 5,073 shares. Verition Fund Mgmt Limited Co holds 0.07% or 19,217 shares in its portfolio. Andra Ap reported 79,200 shares. Ajo Ltd Partnership holds 0.41% or 2.29 million shares. Switzerland-based Pictet North America Advsr has invested 0.11% in Micron Technology, Inc. (NASDAQ:MU). Menora Mivtachim has invested 0.93% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Salem Counselors accumulated 2,900 shares or 0.01% of the stock. Price T Rowe Assocs Md owns 4.56 million shares. Thompson Davis & Com holds 1,100 shares. Nj State Employees Deferred Compensation Plan has 30,000 shares. Oppenheimer And holds 150,336 shares. Quantum Mgmt reported 1.85% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Vanguard Grp Inc stated it has 0.14% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Gam Ag reported 37,794 shares.

Since January 2, 2018, it had 0 insider buys, and 13 selling transactions for $7.65 million activity. Another trade for 28,089 shares valued at $1.36 million was made by Thorsen Steven L. JR on Tuesday, May 8. $1.26M worth of stock was sold by JOHNSON MERCEDES on Monday, April 2. The insider BAILEY ROBERT L sold $144,003. Shares for $768,439 were sold by Deboer Scott J on Monday, March 26. $2.17 million worth of stock was sold by Mondry Lawrence N on Wednesday, February 14. Shares for $53,487 were sold by ARNZEN APRIL S on Thursday, February 15.

Shellback Capital Lp increased its stake in Micron Technology Inc (MU) by 66.67% based on its latest 2017Q4 regulatory filing with the SEC. Shellback Capital Lp bought 400,000 shares as the company’s stock rose 18.77% while stock markets declined. The institutional investor held 1.00 million shares of the technology company at the end of 2017Q4, valued at $41.12 million, up from 600,000 at the end of the previous reported quarter. Shellback Capital Lp who had been investing in Micron Technology Inc for a number of months, seems to be bullish on the $64.27 billion market cap company. The stock decreased 1.91% or $1.08 during the last trading session, reaching $55.42. About 31.60M shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 82.20% since May 17, 2017 and is uptrending. It has outperformed by 70.65% the S&P500.

Shellback Capital Lp, which manages about $423.03 million and $1.34 billion US Long portfolio, decreased its stake in Mgm Resorts International (NYSE:MGM) by 340,000 shares to 558,989 shares, valued at $18.67 million in 2017Q4, according to the filing. It also reduced its holding in Pinnacle Entmt Inc New by 144,641 shares in the quarter, leaving it with 760,851 shares, and cut its stake in Dollar Tree Inc (NASDAQ:DLTR).

More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Seekingalpha.com which released: “Micron: Shorts Are Scared To Act” on May 16, 2018, also Nasdaq.com with their article: “Tuesday’s Vital Data: Micron Technology, Inc. (MU), Facebook Inc. (FB) and AT&T Inc. (T)” published on April 24, 2018, Investorplace.com published: “Wednesday’s Vital Data: Nvidia Corporation (NVDA), Micron Technology, Inc. (MU) and Tesla Inc. (TSLA)” on May 16, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Investorplace.com and their article: “Monday’s Vital Data: Apple Inc. (AAPL), Micron Technology, Inc. (MU) and Netflix, Inc. (NFLX)” published on April 30, 2018 as well as Seekingalpha.com‘s news article titled: “Micron: Reading The Tea Leaves” with publication date: May 14, 2018.

Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage

Among 25 analysts covering Micron (NASDAQ:MU), 20 have Buy rating, 1 Sell and 4 Hold. Therefore 80% are positive. Micron had 54 analyst reports since November 27, 2017 according to SRatingsIntel. The firm has “Hold” rating given on Tuesday, November 28 by Standpoint Research. The firm earned “Buy” rating on Thursday, May 10 by Morgan Stanley. The stock has “Buy” rating by M Partners on Thursday, December 14. The company was maintained on Tuesday, May 15 by Mizuho. The firm has “Hold” rating by Citigroup given on Friday, March 23. The rating was maintained by Nomura on Friday, December 15 with “Buy”. KeyBanc Capital Markets maintained the shares of MU in report on Monday, April 16 with “Buy” rating. Rosenblatt maintained Micron Technology, Inc. (NASDAQ:MU) on Monday, December 18 with “Buy” rating. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Tuesday, February 6 by Stifel Nicolaus. The rating was maintained by Citigroup on Wednesday, December 20 with “Buy”.

Micron Technology, Inc. (NASDAQ:MU) Institutional Positions Chart

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